The Ministry of Finance plans to move away from rates in euro on compulsory insurance contracts for civil liability of vehicle owners services and foreign medical insurance.

The Ministry of Finance plans to withdraw from setting insurance premiums under compulsory insurance contracts for civil liability of vehicle owners and compulsory health insurance for foreign citizens arriving in Belarus in euros, Sergei Osenko, Head of the Insurance Supervision Department of the Ministry of Finance, told reporters at the press center of BelTA. “This is the next stage in dedollarization, and the Ministry of Finance is working on it,” said Sergey Osenko. When making changes to the legislation, the interests of policyholders will be taken into account as much as possible. The draft regulatory legal act will be presented for public discussion. Speaking about deadlines, Sergey Osenko noted that the ministry expects to prepare documents in the shortest possible period, but it is unlikely that they will be approved this year. New changes can not be made to the legislation during the year from the date of entry into force of the previous innovations, so that they show the effectiveness of the application in practice.

The representative of the Ministry of Finance reminded that Belarus has already left the euro in matters of establishing the minimum size of the authorized fund of insurance companies and brokers. Now they amount to 11 million BYN and 55 thousand BYN, respectively. At the same time, insurance organizations, insurance brokers have the right not to recalculate foreign currency in Belarusian rubles, which is included in the statutory fund before the decree comes into force.

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