OREANDA-NEWS. September 20, 2011. At the governmental meeting it has been decided to establish a remedial bank based on the Rodovid Bank JSC.

The bank’s primary function will be professional work aimed at cost refund to public sector banks for earlier credits and other liabilities. Also, the remedial bank will not disburse loans or engage contributions.

Rodovid Bank is capitalized enough to perform as a remedial bank without extra public expenditure.

This decision of the Government came up out of the National Bank’s application supported by the members of parliament at the meeting of the Parliamentary Committee for Finance and Banking, Tax and Customs Policy.

The Government’s decision to establish a remedial bank is also supported by the World Bank and IMF.