The head of the National Bank of Belarus will be introduced to the Bank of Lithuania’s experience in reforming financial market supervision
On 13 July the Bank of Lithuania will be visited by Pavel V. Kallaur, Chairman of the Board of the National Bank of Belarus. During the meetings it is planned to share the experience of the Bank of Lithuania in consolidating financial market supervision, discuss the development of the economy and finances in Belarus and Lithuania, consider issues of mutual cooperation.
The head of the National Bank of Belarus will be presented with the financial market supervision model that was implemented in Lithuania several years ago, when the commercial bank and other credit and payment institution, securities and insurance market supervision, as well as settling disputes between consumers and financial institutions was concentrated at the Bank of Lithuania. This allows to increase the efficiency of supervision and to decrease budget expenditure. Prior to that, the aforementioned functions were performed by four different institutions.
The guest will also visit the Bank of Lithuania Money Museum and UAB Lithuanian Mint, where he will be introduced to the coin and medal creation and production processes. Lithuania’s Mint as of 2011 has been cooperating with the National Bank of Belarus in the field of the provision of services for the production of collector (commemorative) coins.