Bulgarian nat bank to tighten bank system control

BULGARIA - The Bulgarian National Bank (BNB) will closely monitor the small shareholders in Bulgarian banks, which acquire stakes of over 3.0 pct, according to Banking Act amendments, reports Bulgarian News Digest.

The amendments have been tabled in parliament by the chairmen of the parliamentary budget and economic committees Ivan Iskrov and Valeri Dimitrov. Each buyer which acquires a stake of more than 3.0 pct in a Bulgarian bank will have to inform the BNB about the origin of its funds

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