Ukraine’s Verkhovna Rada Committee on Financial Policy and Banking supported the compromise bill on the management of state-owned banks (No. 7180) that incorporated propositions of the working group that involved representatives of National Bank of Ukraine, Ministry of Finance, international financial institutions, European Commission and experts. Serhii Rybalka, MP, head of the working group and former chairman of the parliamentary financial committee mentioned this after the meeting on Tuesday, 19 December 2017. "This law is of critical importance for stabilizing our financial system, so the Committee approved it thus demonstrating its openness for collaboration and constructive compromise” he said after the meeting. "I personally believe that we must continue moving forward and pushing the reform process. So, I propose to reach the compromise as soon as possible, producing a single bill with the improvements incorporated” Serhii Rybalka said during the discussion of the bill. "We need effective supervisory boards that would have mostly independent members. At the same time, the rights of the citizens as proprietors of the state-owned banks must be properly protected", - he added. Taking this into account, the representatives of the Ministry of Finance and the Committee agreed upon the necessity to have each state-owned bank’ supervisory board comprised of 9 members (6 independent members plus 3 from the state: one appointed by the President, one - by the Cabinet of Ministers, and one - by the Parliament). "Nevertheless, we insist that two state-owned banks must stay in their roles of institutions for growth and development. One of them should be Export and Import Bank that will support high technology exports. The other should be Development Bank that will provide cheap loans to small and medium businesses and funding to important infrastructure projects at various levels. They might have a small share of private capital. But their primary objective must remain realizing the state policy on economic growth", - Serhii Rybalka said. Oksana Markarova, first deputy minister of finance who represented the Ministry of Finance at the meeting, thanked Rybalka for his initiatives and expressed willingness to take them into account while working on the bills in the future.