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2018 04 23
Increased Protection of Insurance Service Customers

The Seimas adopted the new recast Law on Insurance. The law aims at supplying honest, fair and professional services by insurance distributors to insurance service customers under optimum conditions and serving their interests. A consumer will be granted a possibility of getting more comprehensible information and consultations of a better quality. “We are seeking to improve...

2018 04 23
Promoted More Innovative and Safer Financial Services

The Seimas adopted the package of the Law on Payments and related draft laws. They aim at promoting innovation in the payments area, competition of the payments market, Fintech development, as well as enhancing the payment security and strengthening the protection of payment service users. “The amendments aim at exploiting possibilities of financial innovations,...

2018 04 09
Lithuania Will Issue Green Bonds

The Government supported the decision on granting a loan to the Public Investment Development Agency (hereinafter - VIPA) by issuing Government securities – green bonds. The generated funds will be invested in modernisation of multi-apartment buildings as well as in enhancing energy efficiency. The Government of the Republic of Lithuania will be the first public authority issuing green bonds in the...

2018 03 29
Green Bonds for Modernisation of Multi-Apartment Buildings

The Government of the Republic of Lithuania, the first in the Baltic states, intends to issue Government securities – green bonds and to use the generated funds for modernisation of multi-apartment buildings as well as for enhancing energy efficiency. “The main objective of green bonds is financing of green projects. They have to solve the major environmental...

2018 02 23
One of the Most Favourable Environment for the Investment Funds’ Activities is being Created in Lithuania

Today the Ministry of Finance submitted for public consultation the draft laws the purpose of which is to improve conditions for the Investment Funds’ activities in Lithuania. “A new package of draft laws has been developed, which will abolish current excess restrictions for the Investment Funds. When drafting...

2018 02 09
Baltic and Nordic countries to cooperate on strengthening cross-border financial stability

The heads of relevant ministries, central banks, financial supervisory authorities and resolution authorities in the Nordic and Baltic countries have signed a Memorandum of Understanding (MoU) on cooperation and coordination on cross-border financial stability. ‘I believe that the memorandum signed by the Baltic and Nordic countries...

2018 01 25
Lithuania is a Member of the World-Class High-Tech Blockchain Community

Lithuania together with other technology giants joined Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies. Project representatives welcomed our country becoming a part of the innovative breakthrough. Lithuania has a good shot in this area, as for the time being there is no one exceptional locality or...

2018 01 11
Fintech Development – for the Leadership in the Region

The financial technology sector in Lithuania is growing fast, innovations are not only used, but also created, new companies and jobs are established in the country – this is how the report on the Fintech sector development in Lithuania was presented to the Government. “The year was really incredible – starting with a bold statement that we will become the leaders of...

2017 12 13
Seimas Adopted Historical Budget for Upcoming Year

Poverty reduction, ensuring of national security, promotion of entrepreneurship and productive investments as well as increasing financial self-sufficiency of municipal budgets – ways forward for the growing country viewed by both the Government and the Seimas. Today, 84 members of the Seimas voted for the Law on the Approval of Financial Indicators of the State Budget and...

2017 11 29
At the Largest Fintech Conference – Discussions on Future Technologies

More than 800 financial market policy makers, academics and business representatives from Lithuania, USA, Sweden and other countries, guests from all over the world and Lithuania will gather at the international Fintech Conference in Vilnius. On 30 November the largest ever event on financial technologies will take place, which is organised by the...

2017 11 22
Independent Payments Council will strengthen dialogue within payments market in search for benefits for users and service providers

An independent Payments Council, which is to help develop Lithuania’s payments market, commenced work on 21 November this year. During their first meeting, representatives of payment service providers, enterprises and residents, state authorities and the academic community,...

2017 11 08
Lithuania takes advantage of the low interest rate environment to borrow EUR 550 million at favourable terms

Lithuania reopened two Eurobonds issues of 10 years and 30 years, both issued initially on May, 2017, and issued EUR 350 million and EUR 200 million tranches respectively in the international capital markets today. „This transaction completes our borrowing programme in the international capital markets. We...

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