In November 2019, there were a number of changes across
different industries. The most notable changes affected the banking
sector, where several major laws were revised, including the Law on
Banks and the Banking Activity and the Law on the Central Bank. It
is also of significance that the government is seriously determined
to reform the utilities sectors and after the electrify sector has
been transformed, it is now water supply services that are subject
to the revision.
1. DEVELOPMENTS IN THE BANKING INDUSTRY
Several legal acts affecting the banking sector were adopted in
November. The following changes were introduced, among other
things, in respect of: (i) the imposition of certain limitations on
the Central Bank and banks, (ii) bank-customer relationship
matters.
