The Cabinet of Ministers approved a decree allowing the supervisory board of the state-owned Ukreximbank to begin work with an incomplete composition. The government made the corresponding decision at a meeting on January 12.
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Appointment of members
In May 2023, the government appointed six independent members of the supervisory board, but one of them was not approved by the National Bank.
Since Akcakoca did not receive approval, the supervisory board was never able to start work, because at the time of appointment in May, the Cabinet of Ministers decided that “the term of office of members of the supervisory board is three years from the date of entry into office of all members of the supervisory board.”
At the last meeting on January 12, the Cabinet of Ministers abolished this requirement, and the new term of office of the supervisory board of the joint stock company “State Export-Import Bank of Ukraine” is three years from the date of entry into force (i.e. until January 2027).
What does this mean
This will allow the supervisory board to begin work with a partial composition of eight people (five independent members, three state representatives), while one more member is being checked NBU.
