President of Belarus Alexander Lukashenko signed Decree No. 435 "On Regulating Banking Activities" on December 16. BELTA was informed about this by the press service of the Belarusian leader.
The document amends the composition of sources for banks' financing of expenses for the acquisition (modernisation) of fixed assets. Such sources include funds formed from profits remaining at the disposal of banks after payment of taxes, duties, and other mandatory payments to the republican and local budgets. At the same time, foreign loans are excluded from the sources for the acquisition (modernisation) of fixed assets.
The document also establishes that the creation and use by banks of funds formed from profits shall be carried out in the manner determined by the National Bank.
With the adoption of this decree, Decree No. 271 of May 15, 2008, is recognised as having lost its force.