Draft Bill on the Omnibus Law for the Financial Sector: Integrated Banking Supervision and Follow-ups to Banking Supervision

In an effort to establish an organized, fair, transparent and accountable financial services sector,  the government is currently preparing a Draft Bill on the Handling of Banking Issues, the Strengthening of Coordination Between Financial-Sector Institutions and the Restructuring of the Authorities of Financial-Sector Institutions (“Draft Bill”), which is dubbed as the Omnibus Law for the Financial Sector.[1] In essence, the Draft Bill aims to update and synchronize existing regulatory frameworks in relation to the following matters:[2]