Belarus’ central bank to launch updated foreign currency regulation system

Belarus’ central bank intends to launch an updated foreign currency regulation system in the country as from 2021, Chairman of the Board of the National Bank of the Republic of Belarus Pavel Kallaur said. A bill on forex regulation and exchange control had been drafted. It reflects liberal approaches to exchange regulation. Instead of a system based on prohibitions Belarus will embrace a foreign currency monitoring system, based on permissions. «The bill is to be passed some time next year so that as from 1 January 2021 we would have a modern forex regulation system in place in compliance with the best international practices», Pavel Kallaur said.