NBU governor Valeria Gontareva has informed on the planned reshuffle of the board that would take place in the near future.
Gontareva said that Vladyslav Rashkovan was set to complete his duties as NBU deputy governor on August 1, 2016. She underlined that Rashkovan had actively participated in reforming the banking system and implementing the internal transformation of the NBU in an extremely critical period for the country.
“We have already passed through the most challenging stage of the reform process, laid the groundwork for a modern European central bank, stabilized the banking system and moved from resolving the problems of the past to the development of a fully-fledged banking system. The reform process is now well underway and irreversible. Over this period, the NBU has become a reform leader in the country, while Rashkovan has emerged as a genuine agent of change in the financial sector restructuring process. On this reform path, the Ukrainian parliament has approved of over twenty draft laws required for further development of the financial sector and the country’s economic recovery, in which Rashkovan was actively involved. At the same time, internal transformation of the NBU as a regulator and an organization has become a role model and a benchmark not only for other Ukrainian public authorities, but also for other central banks across the world. I highly value Rashkovan’s commitment to the banking system reform process, our principles and values”, said Gontareva, commenting on Rashkovan’s decision to resign.
“The financial sector reform and the NBU’s transformation project were launched after the Revolution of Dignity in March-April 2014. I am grateful to Stepan Kubiv, who invited me to work at the NBU, and Valeria Gontareva, who believed in reforms and spearheaded them. To build a brand new financial system, we focused our efforts on four main components: ensuring macroeconomic and financial stability, strengthening the institutional capacity of regulators, as well as consumer and investor rights protection. Major work has already been done, yet much needs to be done. However, I believe that I have completed my mission to set the stage for reforms. Presently, I have plans to get to the next level in my career and address new challenges facing me. First, I see the potential and have the capacity to contribute to accelerating the development of the real economy. Second, I have always stressed that the NBU is a modern institution, which is independent of individual personalities, and have always underlined that the statutory mandate, functions, processes and values have overriding priority for the Ukrainian central bank. Therefore, I feel confident that the NBU has a strong team of professionals capable of moving reforms forward. I hope that going forward I can be of service to the NBU’s team – we will continue our cooperation as like-minded allies and drivers of change and reforms”, said Vladyslav Rashkovan.
In April 2014, Rashkovan took charge of the NBU department of banking system strategy and reforming and became a member of the NBU board. Since November 2014, he has served as NBU deputy governor. (Bank.gov.ua/Business World Magazine)
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