President approved development of digital banking technologies

The Edict of the President of the Republic of Belarus of 1 December 2015 No. 478 provides for creation of an interbank identification system as a part of the automated information system of the single settlement and information space, aimed to perform identification of legal persons, natural persons, including individual entrepreneurs, notaries, advocates, without their personal attendance. According to the Edict functioning of the automated information system of the single settlement and information space shall be maintained by the open joint stock company “Non-bank credit and financing organization 'Single settlement and information space’” to be founded by the National Bank of the Republic of Belarus and other organizations till 1 February 2016.

The Edict was officially published in Russian on the National Legal Internet Portal of the Republic of Belarus on 3 December 2015 and its provisions enter into force in stages beginning from 4 December 2015 till 1 January 2017.