On December 16, President of Belarus Alexander Lukashenko signed Decree No. 435 "On the Regulation of Banking Activities". BELTA was informed about this by the press service of the Belarusian leader.

The document amends the composition of sources for banks' expenses on acquiring (modernizing) fixed assets. Such sources will include funds formed from profits remaining at the disposal of banks after paying taxes, duties (levies), and other mandatory payments to the republican and local budgets. At the same time, foreign loans are excluded from the sources for acquiring (modernizing) fixed assets.

The document also stipulates that the creation and use of funds formed from profits by banks shall be carried out in the manner determined by the National Bank.

Upon the adoption of this decree, Decree No. 271 of May 15, 2008, shall be deemed invalid.

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