April 16 (SeeNews) - The central banks of Ukraine and Montenegro have signed a memorandum of understanding (MoU) for cooperation in banking supervision, the Ukrainian central bank, NBU, said.
This agreement will facilitate the fulfilment of the two central banks' functions in banking supervision and will support the proper operation of the banking sector in both countries, NBU said in a statement on Monday.
The two central bank will join forces in the supervision of the activities of parent banks and their cross-border subsidiaries, in particular on licensing and effective supervision as well as prevention of money laundering of the proceeds from crime, terrorism and proliferation of weapons of mass destruction, the Ukrainian central bank said.
The MoU was signed during the Spring Meetings of the International Monetary Fund and the World Bank in Washington on April 12-14.