Ambassador visits the Luxembourg Bankers’ Association

Ambassador Mark Entin met with the leadership of the Luxembourg Bankers’ Association – ABBL.

The Luxembourg Bankers’ Association is the professional organisation representing the majority of banks and other financial intermediaries established in Luxembourg. Its purpose lies in defending and fostering the professional interests of its members. The ABBL, via its technical committees and its working groups, provides technical and strategic input for the benefit of its members and the Luxembourg financial industry as a whole. As such, it acts as a centre of competence and as a platform for the exchange of ideas. The ABBL also develops professional recommendations and guidelines for its members, including a code of conduct.

During the meeting such questions were discussed as the advantages of Luxembourg as a solid, promising and showing good dynamics financial centre. The ABBL representatives told about the Association’s tasks. One of them is the active participation of the association’s president in elaborating the EU legal framework in the respective field.

As the efficient functioning of the banking and financial system is of interest in the context of EU – Russia relations, it was agreed to stay in contact.

The questions of the future Russian presidency in G20 were also discussed.