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Belarus, Russia complete three joint banking programs — Belarusian central bank

"The parties noted the similarity of monetary instruments and the comparability of banking regulation in line with international standards during the effort to implement Union [State] programs," Pavel Kallaur said

MINSK, April 19. /TASS/. Belarus and Russia have completed three joint banking programs under the framework of the Russia-Belarus Union State, while another four programs are now at the final stage, National Bank of the Republic of Belarus Governor Pavel Kallaur said on Wednesday.

"Seven Union [State] programs pertaining to the field of banking have been put under the auspices of the National Bank. Three programs have been completed at this phase; they concern currency regulation, information security and anti-money laundering," the central bank chief said, as cited by the SB. Belarus Today news outlet. Four other projects are now in the final stages, he added.

"The parties noted the similarity of monetary instruments and the comparability of banking regulation in line with international standards during the effort to implement Union [State] programs," Kallaur said. The integration of the Belkart and Mir payment systems, as well as national systems of financial information transmission and fast payment systems was supported in the payment sphere, the official noted. "A successful pilot [program] of rapid cross-border payments between individuals was carried out in December 2022. National fast payment systems are being enhanced at present to provide for proper security of payments made by individuals," the governor added.

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