Lukashenko: The Leadership of National Bank Must Have Significant Influence on Commercial Banks

Commercial banks should not operate as a "country within a country." This was stated by Belarusian President Alexander Lukashenko during the appointment of Alexander Yegorov as the First Deputy Chairman of the National Bank, as reported by BELTA.

"Why were Golovchenko and Yegorov appointed to the leadership of the National Bank? We need to establish order in this matter. Commercial banks should not function as a nation unto themselves," emphasized the Belarusian leader.

Lukashenko explained that the leadership of the National Bank must exert significant influence over commercial banks. "They need to be clear. If they completely refuse to comply with the central bank's directives across all areas, because we have the appropriate legislation... By the way, this also needs to be aligned with our reality, so you need to address that," the head of state instructed.