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Eurasian council of central banks’ heads set up on base of EurAsEC council

The new council will mainly be responsible for taking non-regulatory decisions regarding issues falling under the competence of the countries’ central banks

Almaty, Kazakhstan EPA/IGOR KOVALENKO

Almaty, Kazakhstan

© EPA/IGOR KOVALENKO

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ASTANA, November 23. /TASS/. Eurasian council of heads of central (national) banks has been set up on the base of the Council of heads of financial regulators of the EurAsEC (Eurasian Economic Community) member-states, press service of Kazakhstan’s National Bank reported on Monday after 33th meeting of Council of EurAsEC national banks’ heads in Almaty. The meeting was attended by representatives of the Russian, Kazakhstani, Belarusian, Kyrgyz and Tadjik central banks.

"Despite abolition of EurAsEC bodies from January 1, 2015 and given high efficiency of work and extreme urgency of issues considered within this platform, the Council continued its operations as an advisory and consultative body of heads of EurAsEC member-states’ central banks," Kazakhstan’s National Bank said.

The new council will mainly be responsible for "taking non-regulatory decisions regarding issues falling under the competence of the countries’ central banks," the report said.

Also, the participants of the meeting discussed issues related to deepening of integration in the financial and banking sphere, coordination of actions regarding issues of development of national currency, financial and banking systems, improvement of multilateral and bilateral payments.

The next meeting of the Council will take place in Minsk in the first half of 2016.

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