During a two-day official visit to the Kingdom of Saudi Arabia, Governor of the National Bank of Ukraine Sergiy Arbuzov held a working meeting with the senior managers of commercial banks and large investment companies in the Kingdom.
In the course of the meetings, Sergiy Arbuzov gave a presentation on “Priorities Set by the National Bank of Ukraine with regard to Stabilizing the Financial Market and Overcoming Crisis Developments in the Economy” and informed the participants about investments initiatives undertaken by the National Bank of Ukraine.
Sergiy Arbuzov emphasized that the National Bank of Ukraine is making efforts to implement the standards of the Basel Committee on Banking Supervision and best international practices. “Ukraine follows 30 Basel Core Principles in full and follows 25 principles partly,” added the Governor of the National Bank of Ukraine.
In addition to this, the sides reached an agreement on establishing direct trade relations between Ukraine and the Kingdom of Saudi Arabia, which would accelerate, simplify and make cheaper settlements betweens enterprises in both countries.