The agreement between National Bank of the Republic of Belarus and the Central bank of the Republic of Armenia on cooperation in the field of supervision of activities of credit institutions

of July 19, 2000

The National Bank of the Republic of Belarus and the Central bank of the Republic of Armenia which are hereinafter referred to as "Party", expressing mutual interest in establishment and development of bilateral ties in the field of banking supervision, agreed as follows:

1. The parties express readiness at least once a half-year to communicate about condition and development of bank system of each of the Parties.

2. The parties provide on mutual basis information on existing rules and standard rates, requirements of banking supervision, and also on their basic changes by the operational direction each other of the relevant documents.

3. In case of need of the Party hold meetings at the level of heads of bodies (divisions) of banking supervision and (or) at the level of experts for discussion of the questions which are of mutual interest.

For the purposes of this agreement credit institutions are understood as banks, non-bank credit institutions (the organizations performing separate types of banking activities) which activities are subject to licensing and banking supervision of the Parties.

Credit institutions are recognized affiliated (joint), with equity according to requirements of the national legal system of the Parties.

The list of the credit institutions which are already operating at the time of agreement signature on which the Parties perform provided by subitems 5. 2, 5.3, 5.4 of the Agreement supervising actions, it is approved by the Parties taking into account requirements of the national legal system and serves as appendix to the Agreement.

On the newly created credit institutions falling under operation of the Agreement, the Parties make agreed decision on inclusion them in the above-stated list in a month.

4. The centers of preparation and advanced training of personnel of the Parties when planning seminars on banking supervision provide exchange of teachers and listeners.

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