OREANDA-NEWS. The National Bank of Belarus (NBB) has introduced new restrictions on foreign currency credits for entities. The central bank adopted a resolution to this effect on January 4, 2014.

The document says that all kinds of FX credits, including short-term and long-term loans shall be provided in a cashless form, with banks directly transferring FX payments to settle invoiced submitted by the borrower.

Before the latest resolution the same practice was used exclusively regarding short-term credits.

The only exception from the rule shall be FX credits to pay for gas supplies by Gazprom transgaz Belarus (formerly known as Beltransgaz).

In late 2010 the NBB introduced a ban on FX credits for individuals.