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

of December 26, 2001

The National Bank of the Republic of Belarus and National Bank of Moldova 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. The cooperation within this agreement is performed based on requests of contracting parties about rendering assistance when implementing supervision or at the initiative of one of the Parties assuming that such assistance is of interest to other Party.

The inquiry is sent for rendering assistance in writing. For transfer of request modern means of telecommunication can be used.

4. 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, the non-bank credit (credit and financial) 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 of the foreign investor the authorized capital according to requirements of the national legal system of the Parties.

5. 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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