The National Bank’s competence in the issues of regulating leasing activities

In accordance with Edict of the President of the Republic of Belarus No. 99 “On Regulation of Leasing Activities” dated February 25, 2014 (hereinafter - the “Edict”), the National Bank shall have the following powers to regulate leasing activities.

The National Bank shall regulate leasing activities by dint of:

  1. adopting in accordance with the Edict and other legislative acts regulatory legal acts that determine the procedures and conditions for the implementation of leasing activities;
  2. maintaining the register of leasing organizations (hereinafter – the “Register”), entering leasing organizations in the Register in the order established by the National Bank, and excluding such organizations from the Register (in the cases established by the Edict);
  3. accepting notices on the intention to carry out leasing activities with residential properties;
  4. monitoring the compliance with legislation on leasing activities, including leasing activities with residential properties, leasing organizations and other lessors;
  5. collecting and analyzing the reporting of leasing organizations included in the Register of leasing organizations;
  6. submitting written instructions on eliminating the violations of legislation on leasing activities, revealed during inspections on the basis of examination of reporting, other documents and information, as well as requirements for removal from the work of the head and (or) chief accountant and (or) deputies thereof of the leasing organization, included in the Register (in the cases established by the Edict);
  7. submitting written orders to prohibit the implementation of leasing activities with residential properties in the event of a non-compliance of the leasing organization with at least one of the requirements established by legislation for leasing organizations that carry out leasing activities with residential properties;
  8. initiating the audit of the accounting (financial) reporting of the leasing organization included in the Register; and
  9. filing a suit with the court to liquidate a leasing organization on the grounds of and in accordance with the procedure established by legislative acts.

The National Bank in accordance with the Edict shall be entitled to adopt regulatory legal acts on the issues of:

  1. establishing and maintaining the Register of leasing organizations, determining the application forms and a certificate on entering the leasing organization in the Register;
  2. rules for the implementation of leasing activities;
  3. the forms, scope and content of the reporting and other information of the leasing organization, as well as the foreign organization that carries out leasing activities in the Republic of Belarus through a permanent representative office;
  4. the volume of and procedures for disclosing information by leasing organizations included in the Register.

The National Bank shall regulate the leasing activities of Belarusian banks and non-bank financial institutions both within the framework of the Edict and banking legislation, since banks and non-bank financial institutions when carrying out leasing activities are guided by the Banking Code, other legislation, as well as the Edict and regulatory legal acts of the National Bank regulating leasing activities.

As part of the regulation of leasing activities in accordance with the Edict and other legislation, the National Bank shall not be authorized to:

  1. determine the order and peculiarities of accounting in leasing organizations and in the process of performing operations as part of leasing activities (these issues are regulated by the Ministry of Finance);
  2. determine the procedures for calculating depreciation of property transferred as a subject of leasing (issues are regulated by the Ministry of Economy in concert with the interested parties);
  3. define special aspects of imposing taxes on operations on the transfer of property under financial lease (leasing) agreements (these issues are within the competence of the Ministry of Finance and the Ministry of Taxes and Duties);
  4. specify the procedures for and terms of payment for managers and other employees of leasing organizations (these issues are regulated by the Council of Ministers of the Republic of Belarus and explained by the Ministry of Labor and Social Protection);
  5. identify solvency criteria and other indicators of economic and financial activities and the stability of leasing organizations (such criteria are determined by the Council of Ministers of the Republic of Belarus);
  6. establish standards and requirements for the activities of leasing organizations (by analogy with the standards specified in the framework of banking supervision);
  7. interfere in the current activities of leasing organizations, including by determining the conditions for concluding separate financial lease (leasing) agreements, choosing or assessing the reliability of the lessee, limiting the maximum amount of the lessor’s (remuneration) fee on a specific transaction.

Contact details:

Non-credit Financial Organizations Regulation Directorate

  • Aleksandr Dedkov
    (Deputy Head, Non-bank Transactions Methodology Department), tel.: +375 17 218 38 61
  • issues regarding regulation of leasing activities:
    • Yulia Gerasimchik, tel.: +375 17 218 38 67
    • Olga Kovaleva, tel.: +375 17 218 39 12
    • Irina Okuney, tel: +375 17 218 39 31
    • Fax: +375 17 218 39 07
  • issues concerning the methodology of compiling reports and information provided to the National Bank:
    • Yulia Gerasimchik, tel.: +375 17 218 38 67
  • issues concerning inclusion into the Register of Leasing Companies:
    • Natalia Poznyak, tel.: +375 17 218 38 11
  • issues regarding submission of reports and information to the National Bank:
    • Olga Stanyuk, tel.: +375 17 218 38 36
    • Dmitry Kryshtapovich, tel.: +375 17 218 38 34

Balance of Payments and Banking Statistics Directorate:

  • issues concerning the methodology of compilation and presentation of report on the state of assets and liabilities, which is submitted to the National Bank:
    • tel.: +375 17 327 36 63

Information Systems Support Service of the Information Technologies Directorate:

  • issues concerning organization of acceptance of reports and information submitted to the National Bank:
    • tel.: +375 17 215 44 91