Regulator authorizes Alfa-Bank to exercise trust management of bank management fund
<p> MINSK, June 8 - PrimePress. The National Bank of Belarus (NBB) expanded the rights of Alfa-Bank (Belarus) by adding a special permit (license) to carry out banking activities with the operation of trust management of bank management funds on the basis of the contract for trust management of bank management funds. </p> <p> </p> <p> This decision is based on NBB resolution #156 of June 7, 2021, adopted on the basis of Article 95 of the Banking Code of Belarus, the NBB press-service reports. </p> <p> </p> <p> A bank management fund is one of the investment tools, the essence of which is that the bank invests money of the fund participants in securities, interbank deposits, precious metals, foreign currency, etc. The fund’s income is derived from interest and dividends, the growth of prices of precious metals and securities. </p> <p> </p> <p> Alfa-Bank (Belarus) was established in 1999 (referred to as “International Trade and Investment Bank” until November 2008). Alfa-Bank holds 55.07% of the shares and ABH Belarus Limited holds 44.81%. The Bank offers its services through its central office in Minsk and 42 branches and remote workplaces in all regions of the country. End </p> <p> </p> <p> </p>
2021-06-09
Primepress
Regulator authorizes Alfa-Bank to exercise trust management of bank management fund
MINSK, June 8 - PrimePress. The National Bank of Belarus (NBB) expanded the rights of Alfa-Bank (Belarus) by adding a special permit (license) to carry out banking activities with the operation of trust management of bank management funds on the basis of the contract for trust management of bank management funds.
This decision is based on NBB resolution #156 of June 7, 2021, adopted on the basis of Article 95 of the Banking Code of Belarus, the NBB press-service reports.
A bank management fund is one of the investment tools, the essence of which is that the bank invests money of the fund participants in securities, interbank deposits, precious metals, foreign currency, etc. The fund’s income is derived from interest and dividends, the growth of prices of precious metals and securities.
Alfa-Bank (Belarus) was established in 1999 (referred to as “International Trade and Investment Bank” until November 2008). Alfa-Bank holds 55.07% of the shares and ABH Belarus Limited holds 44.81%. The Bank offers its services through its central office in Minsk and 42 branches and remote workplaces in all regions of the country. End