Cabinet trying to build new corruption schemes via implementing single electronic platform for sale of banks' assets - experts
KYIV. Feb 26 (Interfax-Ukraine) - The decision of the Cabinet of Ministers of Ukraine to sell the assets of problem banks through the Justice Ministry's system of electronic trading in seized property (CETAM) will contribute to corruption, complicate the process of returning money to depositors, while the system won't cope with the existing volume of trading, according to representatives of the exchange market.
"The government, which has not resigned, is trying to build new corruption schemes, subjugating the market, which is measured in hundreds of billions of hryvnias," the director of the Stock and Electronic Platforms association, Oleh Padalka, said at a press conference at Interfax Ukraine.
He noted that the Ministry of Justice using the CETAM system has not been opening the market of seized property to private market players for almost a year, and is now creating a new monopoly.
In addition, according to the director of the Ubiz.ua portal, Dmytro Boiko, CETAM objectively will not cope with the current trading volume, as now problems in the work of the platform often occur. Thus, according to the Individuals' Deposit Guarantee Fund, being within the structure of the Information Center state enterprise of the Justice Ministry, CETAM in 2015 received immovable property for sale only from the fund for a total of UAH 270 million and sold property worth UAH 10 million. That is, its efficiency was 2.7%, while the efficiency of private platforms is 10% and higher.