A public session of the International Business Council (IBC) is being held today, on November 9. The main issues discussed at the meeting encompass the situation in the financial sector related to non-performing borrowers, as well as the initiatives of certain deputies on the alteration of legislation. In particular, the discussion will refer to the draft of the law “On security”.

This law draft, among others, implies the removal of extra-judicial enforcement of security from the law, if security property is the only housing owned by an individual by virtue of ownership title.

The IBC holds this meeting with a view to build a constructive dialog among all the interested parties, as well as to develop recommendations pertaining to the settlement of the listed issues.

The session will be attended by the representatives of commercial banks, microlending institutions, relevant state authorities, civil society, Jogorku Kenesh deputies, as well as other interested individuals.

“FINCA” provides funding to holding of the IBC open session.