Several experts have argued that the new bank tax – the Solidarity Tax – will discourage foreign investment. However, the result has been different, with the promise that we will soon see a new bank […]
Several months have passed since the Bank of Lithuania’s last forecasts. The latest one, presented by the steward of the financial markets, shows both promising and not-so-good developments. The Bank of Lithuania projections that this […]
Lithuania’s gross domestic product (GDP) has been declining for two consecutive quarters. When this happens, the country is considered to be in a recession or economic contraction. So far, relatively few people are experiencing this […]
As industry and government come together to determine a new regulatory framework for Lithuanian fintech, Airidas Puodziunas, General Manager, Contis Lithuania, looks at the issues at stake and makes the case for maintaining an open, […]
ArcaPay UAB, the subsidiary of ArcaPay Ltd, a UK-based and FCA regulated cross-border payments platform, has been granted a Payment Institution licence by the Bank of Lithuania. The company, founded in London in 2011, is […]
What are the global FinTech trends in 2021 since the sector has faced multiple challenges in the last year. Like many other industries worldwide, the finance sector lost its workforce, and many businesses had to […]
On the proposal of the Bank of Lithuania, the European Central Bank (ECB) has issued a specialised bank licence to a neobank, SME Bank, to be established by SME Finance. As previously planned, SME Bank […]
A few weeks ago, some of the participants at the new cabinet’s meeting must have been overtaken by a sense of déjà vu. It was a similarly urgent meeting in the weekend that the previous […]
In 2008, with the onset of the financial crisis and tightening of lending rules by conventional banks, access to funding, in particular for entrepreneurs of small businesses and start-ups had become more difficult. It was […]
On the News radio (“Žinių radijas”) show, Lithuania‘s bank board‘s director Vitas Vasiliauskas said that whilst the world economic scenario is being portrayed dramatically in Lithuania, the visible signs of ambiguity are preventing from making […]
In recent years, not only employee wages but also business owners’ profits have been rising. And increasing profits do not always reach the employees’ wallets. Bank of Lithuania economists, who made such conclusions, explain that […]
The ruling majority and Seimas Budget and Finance Committee (BFK) chairman Stasys Jakeliūnas, who is leading them into battle against the head of the Bank of Lithuania (BL), were unable to pass a no-confidence motion […]
The Swedish Chamber of Commerce in Lithuania in partnership with law firm TGS Baltic and the Embassy of Sweden in Vilnius for the 6th time brought together about 100 banking and finance experts, regulators and […]
Sonect, the location-based matchmaking platform that connects people who have cash with people who need cash, has obtained its Electronic Money Institution licence from the Bank of Lithuania. This enables the company to operate in […]
As Lithuanians are getting ready to vote for their next President on May 12, the race is intensifying between the three leading candidates Ingrida Šimonytė, Gitanas Nausėda, and Saulius Skvernelis. Ms. Šimonytė has taken the […]
Political investigations in Lithuania […]
The Bank of Lithuania reports that Swedbank clients are receiving false text messages about how Swedbank will supposedly cease operations on March 2, that their accounts will be transferred to another bank and an account number is presented to transfer funds. […]
The Bank of Lithuania will provide assistance to the Swedish and Estonian financial supervisory authorities in the investigation of recent information regarding alleged money laundering transactions linked with the Swedbank group. […]
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