The National Bank of the Republic of Belarus (NBRB) is the central bank of Belarus, located in the capital city, Minsk. The bank was created in 1922.
The main objectives of NBRB includes: protecting the Belarusian ruble and ensuring its stability, including its purchasing power and the rate of exchange relative to foreign currencies; maintaining the stability of the banking system of the Republic of Belarus; and ensuring efficient, reliable, and secure functioning of the payment system.
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1. Safety of Client Funds：
Separate accounts are required, and no less than 50% of the customer funds should paid into such accounts.
2. Requirement on Forex Brokers' Reports：
Transaction Reports; Annual Financial Statement (audited); Anti-laundering Reports; Net Capital Report.
Generally speaking, NBRB-regulated broker profile will be found at the Over-the-counter Forex market page on NBRB website. Try to find it and check if it will match the info from the broker website.
The detailed steps are as below:
1. Find the TIN or name of the forex broker, which you can get from the broker's website;
2. Enter the TIN or name into the search bar on http://www.nbrb.by/engl/finsector/forex/register ;
3. If you can't find the broker's profile on NBRB wesbite, it's probably an unauthorised broker and please keep away of it. If yes, the broker can provide forex trading service;
4. If all the above steps have been done, don't forget to check the most important information: check if the broker details in the NBRB list matches the ones you'll go to trade with, especially the website and email etc.
If no, please keep away the broker because it's probably an unauthorized firm and your money will fall in danger.
When you have disputes with a NBRB-regulated broker, you can proceed the following ways:
1st way: The recommended way is to contact the broker directly and discuss with them to find a solution.
2nd way: If you're not satisfied with the broker's solution, try to contact NBRB in Belarus, which helps to solve the disputes between the forex broker and the investor.
To submit a complaint you can:
1. Send the complaint to the email: email@example.com
2. Submit the complaint by post: The Chief Executive Officer, Policy (Information & Communication Unit), Financial Services Authority, Bois De Rose Avenue, P.O Box 991, Victoria, Mahé, Seychelles.
Complaint Form: https://fsaseychelles.sc/complaint-handling
3rd way: If the first 2 ways above can't solve the dispute, the last way is to issue a case to the court in Belarus.
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