Bajuk Stresses Need for Changes in Banking Sector Legislation
Slovenia will continue to strive for an efficient regulatory framework for the financial sector at the national and EU levels, Finance Minister Andrej Bajuk said as he addressed the Days of Slovenian Bankers at Brdo pri Kranju on Friday. The Finance Ministry is aware of its role in providing a stimulative legislative framework, he said.
Bajuk told the meeting that the ministry was drafting a bill on payment services and preparing changes to the rules for the acquisition of qualifying stakes in banks and insurance companies. The new law and changes are needed to bring legislation in line with relevant EU directives, which provide for an efficient payment market and strengthen the legal security and transparency in the financial sector.
"This opens up new possibilities in the Slovenian financial sector, and at the same time presents a new challenge for supervisory institutions, which will have to better coordinate their operations," said Bajuk.
The minister also mentioned plans for the establishment of a state-owned development bank, which would cover market loopholes and risks other banks do not want or cannot take. Such a bank would boost competitiveness and growth, said Bajuk.
Bajuk also touched on Slovenia's high inflation rate and the reasons behind it. According to him, inflation has been caused by pressures from suppliers, while the state is taking counter-cyclical and restrictive measures.
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