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NBU and CBCG Agree to Cooperate in the Area of Banking Supervision

15 April 2019

Press Release

 

The National Bank of Ukraine (NBU) and Centralna banka Crne Gore (CBCG) have signed a Memorandum of Understanding on banking supervision.

 

The document has been signed by CBCG Governor Radoje Žugić and NBU Governor Yakiv Smolii at the Spring Meetings of the World Bank Group and the International Monetary Fund in Washington D.C. on 12 April 2019.

 

 

This document will facilitate the fulfillment of the two central banks` functions in banking supervision and favor the proper operation of the banking sector in both countries.

 

In particular, the agreement envisages cooperation regarding supervision over the activities of parent organizations and their cross-border organizations, in compliance with the requirements of the national laws of the countries, in particular on:

 

  • cross-border units and their parent banks
  • licensing and effective supervision
  • prevention of laundering of the proceeds from crime, terrorism financing and financing proliferation of weapons of mass destruction.

 

The Memorandum of Understanding shall come into effect on the signature date will remain in force indefinitely.

Please, be reminded, that in the fall of 2018 the NBU and the National Bank of the Republic of Kazakhstan signed a similar Agreement.

 

 


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Last modification   15.04.2019