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Parl't votes to phase out savings coops integration framework

Parl't votes to phase out savings coops integration framework

Lawmakers on Tuesday approved amendments that will gradually phase out the legal framework for an integration of the country's savings cooperatives codified in 2013, according to a report by state news wire MTI.
The amendments were passed in an expedited procedure with a vote of 117 for and 49 against.

The integration of the more than 100 savings cooperatives culminated in the establishment of a universal commercial bank with nationwide coverage, dubbed Takarekbank, to meet the banking needs of the country's smaller settlements.
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