NBB lifts restrictions on opening accounts in precious metals outside Belarus starting Jan 1, 2020
<p> MINSK, Dec 22 - PrimePress. The National Bank of Belarus (NBB) will lift on January 1, 2021 the restrictions on the opening of accounts in precious metals by banks and individuals outside the country. The National Bank of Belarus sets a notification procedure for legal persons (except banks) to open accounts in precious metals with banks and other credit institutions outside Belarus, as per NBB resolution No.352 of November 10, 2020 posted on the National Legal Internet Portal. </p> <p> </p> <p> Currently, to open accounts in precious metals abroad, Belarusian legal entities and individuals are to obtain the National Bank’s permission. Belarusian commercial banks may open such accounts upon duly notification. </p> <p> </p> <p> Resolution No.352 approves the instruction on banking operations with precious metals, which will take effect on January 1, 2021. It contains a number of innovations, including the expanded use by banks and non-bank financial institutions of remote banking systems in operations with precious metals. </p> <p> </p> <p> The instruction follows up banks’ proposals on a reduction in the required paperwork for dealing with precious metals. </p> <p> </p> <p> “The amendments will contribute to the unification and simplification of the legislation that regulates banking operations with precious metals and give an impetus to development of this banking segment,” says the National Bank. End </p>
2020-12-23
Primepress
MINSK, Dec 22 - PrimePress. The National Bank of Belarus (NBB) will lift on January 1, 2021 the restrictions on the opening of accounts in precious metals by banks and individuals outside the country. The National Bank of Belarus sets a notification procedure for legal persons (except banks) to open accounts in precious metals with banks and other credit institutions outside Belarus, as per NBB resolution No.352 of November 10, 2020 posted on the National Legal Internet Portal.
Currently, to open accounts in precious metals abroad, Belarusian legal entities and individuals are to obtain the National Bank’s permission. Belarusian commercial banks may open such accounts upon duly notification.
Resolution No.352 approves the instruction on banking operations with precious metals, which will take effect on January 1, 2021. It contains a number of innovations, including the expanded use by banks and non-bank financial institutions of remote banking systems in operations with precious metals.
The instruction follows up banks’ proposals on a reduction in the required paperwork for dealing with precious metals.
“The amendments will contribute to the unification and simplification of the legislation that regulates banking operations with precious metals and give an impetus to development of this banking segment,” says the National Bank. End