Changes in the law also provide minimum requirements for a client of a credit institution to be able to withdraw money from his account.
On September 19, the Seimas of Latvia adopted amendments in the final reading to the Law on Credit Institutions, providing for a ban on the use of the Russian language at ATMs of Latvian commercial banks. Delfi reported it.
ATMs must be configured in Latvian. They can also be configured in the official languages of the EU and Organization for Economic Co-operation and Development (OECD) member countries or candidate countries.
Changes in the law also provide minimum requirements for a client of a credit institution to be able to withdraw money from his account.
According to the Bank of Latvia’s Payment Radar survey, in February 2024, cash payments accounted for an average of 23% of daily payments.
As the Ministry of Finance said, the importance of having cash increases in situations where payment systems are not available, but at the same time the infrastructure for cash withdrawals is significantly reduced. In recent years, the country has significantly reduced the number of branches of credit institutions and settlement centers where you can get money.
Let’s recall that in Latvia, the government coalition agreed to adopt a law that will limit the ability of Russian citizens to buy land in Latvia.
Latvia has also reportedly tightened border controls on goods from the Russian Federation and Belarus.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.