BAKU, Azerbaijan, Apr. 15
By Nargiz Sadikhova - Trend:
Advisory Board on Monetary Policy of Central (National) Banks of Member States of the Eurasian Economic Union (EAEU) a draft of a standardized license agreement that will define coordinated approaches to the mutual recognition of licenses in the banking and insurance sectors in the EAEU member states, Trend reports citing Kazakhstan’s National Bank.
The Chairman of Kazakhstan’s National Bank Erbolat Dossayev took part in the meeting of the Advisory Board, held Apr. 15, 2021.
The meeting participants discussed the current economic situation, the monetary policy of the EAEU countries, the effectiveness of measures to stabilize the financial system and reduce the negative consequences of the coronavirus-related crisis on the economies of states, as well as plans for further recovery of economic activity.
The parties also touched upon the creation of a supranational body for regulating the EAEU financial market, its possible responsibilities, as well as its status in the system of EAEU bodies.
The creation of a supranational body is provided for by the ‘Treaty on the EAEU’ dated May 29, 2014, as well as the ‘Concept for the formation of a common financial market of the EAEU’ dated October 1, 2019.
The main tasks of the Advisory Board are to develop and deepen cooperation between the central banks of the EAEU member states on the coordination of monetary policy, including the development of policy measures to minimize the negative impact of external shocks on inflationary processes and macroeconomic stability.