Criminal liability introduced for interference in state banks work

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The Verkhovna Rada Law «On improving the functioning of the financial sector in Ukraine» provides for criminal liability for unlawful interference with activities of public bank officials.

As reported on the website of the National Bank of Ukraine, new law will also guarantee the implementation of the strategy for the development of state-owned banks and, at the same time, ensure the compliance of corporate management in state banks to international standards.

Now every state bank will have a supervisory board consisting of nine members, including six independent and one representative of the president, the Cabinet of Ministers and the parliament.

In addition, the law determines the list of criteria to be met by independent members of the Supervisory Board and representatives of the state. Applicants to the Supervisory Board will be determined on a competitive basis for a period of three years.

As «Journalist» reported the National Bank explained why the hryvnia devaluated 14 times.