NBB revises approaches to ownership transparency
<p> MINSK, Jan 6 - PrimePress. The National Bank of Belarus (NBB) has updated approaches to assessing transparency of bank and non-bank financial institution ownership, particularly in relation to beneficiaries, according to NBB resolution No.403 of December 17, 2020, the main provisions of which come into force on January 7, 2021, the NBB Information and PR Department reports. </p> <p> </p> <p> The criteria for transparency of the ownership structure are supplemented with a number of new indicators related to the availability of reliable and complete information about the beneficial owners of the bank, which hold five or more percent of the bank’s shares, allowing to assess the compliance of such owners with the requirements established by the National Bank, reads the statement. </p> <p> </p> <p> Also, the resolution updates the list of beneficiary owners of the bank, who hold large stakes in the ownership structure, which may adversely affect their transparency, taking into account their possible influence on the decisions made by the bank. End </p>
2021-01-07
Primepress
MINSK, Jan 6 - PrimePress. The National Bank of Belarus (NBB) has updated approaches to assessing transparency of bank and non-bank financial institution ownership, particularly in relation to beneficiaries, according to NBB resolution No.403 of December 17, 2020, the main provisions of which come into force on January 7, 2021, the NBB Information and PR Department reports.
The criteria for transparency of the ownership structure are supplemented with a number of new indicators related to the availability of reliable and complete information about the beneficial owners of the bank, which hold five or more percent of the bank’s shares, allowing to assess the compliance of such owners with the requirements established by the National Bank, reads the statement.
Also, the resolution updates the list of beneficiary owners of the bank, who hold large stakes in the ownership structure, which may adversely affect their transparency, taking into account their possible influence on the decisions made by the bank. End