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Politics 2020-09-29T04:02:00+03:00
Ukrainian news
Cabinet Cancels Salary Limit For Board Members Of PrivatBank, Oschadbank, And Ukreximbank

Cabinet Cancels Salary Limit For Board Members Of PrivatBank, Oschadbank, And Ukreximbank

Cabinet, Cabinet of Ministers, PrivatBank, salary, Oschadbank, Ukreximbank, salary limit

The Cabinet of Ministers has canceled the salary limit for board members of PrivatBank, the State Savings Bank (Oschadbank), and the State Export-Import Bank (Ukreximbank).

The relevant decision was made at a government meeting on September 16, the Ukrainian News Agency reports.

"In addition, this draft act proposes amending the Cabinet of Ministers directive at the recommendation of the Ministry of Finance... This is an issue that regulates the salaries of members of the boards of PrivatBank, Oschadbank, and Ukreximbank," Health Minister Maksym Stepanov said.

According to him, the limit on the salaries of board members of the above-mentioned banks creates the risks of loss of qualified personnel and non-implementation of the banks' strategies and business plans.

As Ukrainian News Agency earlier reported, the Constitutional Court ruled on August 28 that the decision to limit the salaries of officials to UAH 47,000 for the duration of the anti-coronavirus quarantine was unconstitutional.

In April, the parliament adopted a law limiting the salaries of government officials, parliamentarians, prosecutors, judges, the management and board of state companies, and members of supervisory boards of state companies to 10 minimum wages (UAH 47,200) until the end of the quarantine.


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