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Banks must increase their authorized capital to 300mln soms - central bank.

To preserve the stability and integrity of the banking system in 2015, the government will continue to change the requirements for the minimum authorized capital of banks towards its gradual increase to 300 million som ($4.7 million), the joint statement of the government and the National Bank on the main directions of the economic policy for 2015 says.

Universal requirements for existing and newly opened banks will be introduced by 2017.

Currently, the authorized capital of commercial banks has to be not less than 200 million som ($3.1 million).

The development of this sector will contribute to strengthening the protection of consumers of banking, microfinance and payment services, the introduction of risk-oriented supervision, providing risk assessment in commercial banks, the statement said.

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Publication:AKIpress News Agency
Date:Apr 1, 2015
Words:136
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