Rada refuses to repeal banking bill

The Verkhovna Rada, Ukraine’s parliament, has rejected draft resolutions proposing to repeal the decision to pass a law on the non-return of insolvent banks to their former owners.

Respective draft resolutions, No. 2571-d-P and 2571-d-P1, regarding the cancellation of the results of the Verkhovna Rada vote of May 13, 2020 on the adoption at second reading and as a whole of a bill on the introduction of amendments to some legislative acts of Ukraine to improve some mechanisms for banking regulation were rejected at a parliamentary meeting on Tuesday, May 19, according to an Ukrinform correspondent.

Only 78 lawmakers voted for draft resolution No. 2571-d-P, authored by independent MP Anton Poliakov.

Draft resolution No. 2571-d-P1 proposed by Servant of the People MP Oleksandr Dubinsky collected only 84 votes in support.

According to the parliament’s rules of procedure, after the rejection of these documents, the chairman of the Verkhovna Rada may sign the banking bill and submit it to the president for signature.

The Verkhovna Rada approved the banking bill at an extraordinary meeting on May 13.

In particular, the document will make it impossible to cancel the NBU’s decision to nationalize/liquidate banks and return unfair compensation from the state budget to their previous owners.

The adoption of the banking bill is one of the IMF’s two main requirements for providing financial assistance to Ukraine (the second requirement was the bill on the land market, which was adopted on March 31).

(c) Ukrinform

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