Banks, Estonia, Financial Services, Legislation

Riho Unt heads the Estonian Banking Association till the general meeting in the spring of 2015, when the association's head for the next two years will be decided.

Unt said the association will continue to represent the interests of member banks in preparing legislation, coordination of cooperation in the development of payment systems, fighting money laundering and in the security sphere.

Estonian Banking Association (EBA) was founded on July 3, 1992 by 21 commercial banks. EBA is a full member of European Banking Federation (FBE) and European Payments Council (EPC). EBA has currently 11 member banks who represent approximately 98% of Estonian banking sector's assets (all together 16 commercial banks operating in Estonia). The mission and the primary objective of EBA is to promote the development of banking activities, to improve the banking operations of our member banks and to institute good business practices and ethics.