National Bank of Ukraine, Central Bank of Montenegro to cooperate in banking supervision

National Bank of Ukraine, Central Bank of Montenegro to cooperate in banking supervision

Ukrinform
The National Bank of Ukraine (NBU) and the Central Bank of Montenegro (CBCG) signed a memorandum of cooperation in the field of banking supervision.

"The National Bank of Ukraine and the Central Bank of Montenegro signed a Memorandum of Cooperation in the field of banking supervision. The memorandum was signed in Washington, D.C., April 12, 2019 during the Spring Meeting of the International Monetary Fund (IMF) and the World Bank Group (WBG)," the press service of the NBU reported.

This document will contribute to the implementation of the functions of banking supervision and the normal functioning of the banking sector in both countries.

In particular, the document provides for cooperation in the field of supervision of the activities of parent organizations and their cross-border structures in accordance with the national legislation of both countries, namely the exchange of information regarding cross-border divisions and their parent banks, licensing issues and effective supervision, counteraction and prevention of money laundering, terrorism financing and the spread of weapons of mass destruction.

The memorandum enters into force on the date of its signing and is valid for an unlimited period of time.

As known, in the autumn of 2018, the National Bank of Ukraine and the National Bank of the Republic of Kazakhstan signed an agreement on similar issues.

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