Cabinet expedites Sense Bank privatization
Ukraine’s Finance Ministry has been ordered to accelerate the sale of state-owned Sense Bank, with proceeds to be channeled into the military budget, PM Sergii Koretskyi announced on Aug. 20.
Ukraine’s Finance Ministry has been instructed to expedite the privatization of state-owned Sense Bank, with the intention of directing the funds into the military budget, announced Prime Minister Sergii Koretskyi on August 20. Koretskyi further revealed that the involvement of an international investment adviser would enhance the transparency, competitiveness, and effectiveness of the sale process.
He emphasized the need for the Finance Ministry and the National Bank of Ukraine to rectify the bank's existing issues and establish transparent, top-notch corporate governance. In a Telegram post, Koretskyi highlighted the symbolic significance of utilizing funds from the sale of nationalized Russian assets like Sense Bank to support the Defense Forces and fulfill their requirements.
The statement came just a day after the National Anti-Corruption Bureau of Ukraine (NABU) released an investigation implicating Sense Bank in a money laundering scheme linked to former energy ministry official Herman Halushchenko. On August 19, the government suspended Mykola Hladyshenko, chairman of Sense Bank’s supervisory board, and initiated the suspension of the bank's CEO, Oleksii Stupak.
Later, a committee of the National Bank of Ukraine ruled that Hladyshenko failed to meet legal criteria for independence.
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