The Council Committee approved the bill for the nationalization of Senks Bank (Alfa-Bank) for the second reading

The Parliamentary Committee on Tax and Customs Policy approved the second reading of draft law 9107−1, which amends some legislative acts of Ukraine to improve the procedure for withdrawing a bank from the market under martial law. This was reported by Yaroslav Zheleznyak, the first deputy head of the Committee.

Photo: sensebank.com.ua 1

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In particular, the bill allows the National Bank to nationalize banks under sanctioned ownership.

“The content of the law and the text have hardly changed. Accepted only technical corrections. Although there was a long discussion at the Committee about the need for an additional approval link through VAKS,” Zheleznyak said.

Let’s remind

The Ministry of Finance wrote that on March 30, the Verkhovna Rada registered draft law No. 9107−1, obliging the NBU to withdraw the bank from the market during the war if there are sanctioned persons among its shareholders.

Thanks to this law, the NBU will gain leverage over banks that, or the owners of significant participation in them, are recognized as persons to whom sanctions are applied. Sanctioned persons will be prohibited from acquiring and/or increasing significant participation in banks.

The NBU will be able to apply measures of influence to the bank if sanctions are applied to it or the owner of a significant participation in it (provided that such circumstances pose a threat to the interests of depositors or other creditors of the bank and/or the stability of the banking system due to the deprivation/restriction of a person’s right to to which blocking sanctions have been applied, assets will be disposed of).

Source: Ministry of Finance

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