pc
nid 94232
Jul 24, 2026
arahman@vixio.com
Bulgaria
Official Gazette
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1586 charsBulgaria's National Assembly Amends Law on Credit Institutions
On July 24, 2026, Bulgaria's National Assembly published amendments to the Law on Credit Institutions in the Official Gazette (issue 67). The amendments represent legislative modifications to the existing framework governing credit institutions operating within Bulgaria's financial system.
The Law on Credit Institutions establishes the regulatory requirements and operational standards for credit institutions in Bulgaria. The specific nature of the amendments published in the Official Gazette has not been detailed in the source material; however, such legislative modifications typically address regulatory updates, operational requirements, supervisory procedures, or institutional governance matters affecting credit institutions. These amendments may impact credit institutions' compliance obligations, licensing requirements, or operational procedures.
The amendments have been formally published in the Official Gazette, which serves as Bulgaria's official publication vehicle for legislative acts. This publication in the Official Gazette represents the formal notification of the legislative changes to the public and relevant stakeholders. Credit institutions and their compliance teams should review the amendments to understand any changes to their regulatory obligations or operational requirements under Bulgarian law. The effective date of these amendments, if different from the publication date, should be confirmed by reviewing the full text of the legislative act in the Official Gazette.
REFERENCES:
Държавен вестник (Official Gazette), Issue 67, July 24, 2026
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1953 charsBulgaria's National Assembly Amends Law on Credit Institutions
On July 24, 2026, Bulgaria's National Assembly published amendments to the Law on Credit Institutions in the Official Gazette (Issue 67). The Law on Credit Institutions establishes the regulatory requirements and operational standards for credit institutions in Bulgaria.
Key amendments include:
A bank and a branch from a third country shall be managed and represented jointly by at least two persons, at least one of whom is fluent in Bulgarian. They may not assign the overall management and representation of the bank or the branch to one of them, but may authorise third parties to perform individual actions.
The conditions under which the members of the management board, respectively of the board of directors, the members of the supervisory board and the procurators may participate in the composition of the management or control bodies of other legal entities, as well as the additional requirements that they must comply with in the exercise of their functions, shall be determined by a regulation of the Bulgaria National Bank (BNB).
At least one of the members of the supervisory board or of the non-executive members of the board of directors of a bank must be independent.
A member of a management board, a board of directors, as well as a procurator, with the exception of one whose authorisation is only for the activities of a branch of a bank licensed in the Republic of Bulgaria, may be a person who: Has higher education with an acquired educational and qualification degree not lower than a masters. Has a good reputation. Is capable of working with honesty, integrity and independence to effectively assess and challenge the decisions of the management board.
Has higher education with an acquired educational and qualification degree not lower than a masters.
Has a good reputation.
Is capable of working with honesty, integrity and independence to effectively assess and challenge the decisions of the management board.