REUTERS
The memorandum with the IMF provides for the appointment of independent supervisory boards in Ukraine's state-owned banks.
The Cabinet of Ministers of Ukraine has begun a competitive selection of candidates as independent members of the major state-owned banks in Ukraine, including PrivatBank, Oschadbank and Ukreximbank.
Read alsoIndependent members should form majority in state banks' supervisory boards – Poroshenko
The competition will run from April 5 to May 10 inclusive, according to the Government portal.
To participate in the competition, the applicants must submit documents to the relevant companies: Oschadbank to Pedersen & Partners, Ukreximbank to Ward Howell Ukraine, and PrivatBank to Telent Editors.
UNIAN memo. According to the new law on corporate governance in state banks, the Supervisory Board of each financial institution will consist of nine members, of whom six should be independent, and three will be state representatives from the Cabinet of Ministers, the Presidential Administration, and the Verkhovna Rada.
The memorandum with the International Monetary Fund on the new program for Ukraine in the amount of $3.9 billion provides for the appointment of independent supervisory boards in state-owned banks until the end of March 2019.