February 26 (SeeNews) - North Macedonia's central bank decided to ban local lenders and savings banks from distributing dividend to their shareholders by the end of 2021, it said on Friday.
The measure aims to make the banking system more resilient and maintain its stability amid ongoing uncertainty about the further direction of the health crisis, the central bank said in a statement.
The central bank added it will reassess the circumstances that led to the decision by September 30 and, depending on the outcome of the assessment, it may lift the ban on dividend distribution before the end of the year.
"Banks are expected to continue carefully planning their capital needs while giving priority to the preservation and further strengthening of capital resources," the central bank said.