Be­larus to set up Fi­nan­cial Mar­ket As­so­ci­a­tion

Economy of Belarus - - BANKS AND FINANCE -

The idea to es­tab­lish the as­so­ci­a­tion was put for­ward by the Be­laru­sian of­fices of such in­ter­na­tional com­pa­nies as Forex Club, Tele­trade, Al­pari and Ad­mi­ral Umis.

The Na­tional Bank wel­comes the idea to set up the Fi­nan­cial Mar­ket As­so­ci­a­tion, ac­cord­ing to Dmitry Nabz­dorov, the head of reg­u­la­tion of non­bank­ing op­er­a­tions at the Na­tional Bank of Be­larus.

It is planned that the as­so­ci­a­tion will, in close co­op­er­a­tion with the Na­tional Bank, fa­cil­i­tate the devel­op­ment of the ef­fi­cient and sus­tain­able reg­u­la­tory en­vi­ron­ment, ex­pe­dite the emer­gence and devel­op­ment of new fi­nan­cial prod­ucts and ser­vices for all mar­ket par­tic­i­pants, and pro­mote high stan­dards of cor­po­rate gov­er­nance and pro­tec­tion of the rights and in­ter­ests of in­vestors. The as­so­ci­a­tion will draw on the ex­pe­ri­ence the fi­nan­cial com­pa­nies have ac­cu­mu­lated in Be­larus and co­op­er­ate closely with or­ga­ni­za­tions from other CIS coun­tries, Rus­sia in par­tic­u­lar.

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