Weekly Review of Slovene economy from 24 through 29 June
Ljubljana, 29 June - REVEIW/WEEK/ECONOMY
Slovene government paid most attention at its Thursday session to the bill on banking, which it will pass to the Parliament for first reading. Unless problems occur during the parliamentary procedure, the bill could be passed next year, expects Finance Minister Mitja Gaspari. Intended to settle operations of banks and savings banks in a way similar to that in EU, the banking bill regulates conditions for establishing, operating, supervision and termination of banks and savings banks.*** The proposed legislation is to introduce a number of changes to the field. A foreign bank may perform financial operations in Slovenia via its subsidiary, provided it submits all required documentation together with its application. In regulating operations of foreign subsidiaries, the bill differs from comparable EU legislation guidelines, as the proponent believes the Slovene banking system and the amount of competition in it has not reached a level, where uncontrolled entry of foreign subsidiaries may be allowed in a way set in EU guidelines.
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