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25 Jan 2018

Belarus president, central bank head discuss optimization of cash logistics services

MINSK, 25 January (BelTA) – Plans for optimizing cash logistics services were discussed as Belarus President Alexander Lukashenko met with Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Pavel Kallaur on 25 January, BelTA has learned.

Creating a company to take care of cash logistics services of the central bank, Belarusbank, and Belagroprombank in order to better use the available resources and allow the central bank to drop non-core functions is the idea. Shares in the charter capital of the future company will be distributed in accordance with the monetary and non-monetary contributions the three banks will make.

According to the central bank, the new company will rule out parallel functions of the banks in the area of cash collection, secure cash transportation, processing and storage of items of value. The money spent on physical infrastructure and personnel will be reduced. The number of armored trucks and weapons will be decreased as well.

Yet the central bank will still play the key role in managing the cash in circulation. 

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