Viktor Babariko thought about creating a bank for emigrants — but here's why he abandoned the idea

Viktor Babariko. Photo: LookByMedia

At the meeting, the former political prisoner and banker was asked if he wanted to develop a program for Belarus's economic development or even create something akin to a cabinet of ministers in exile.

Viktor Babariko admitted that he sees no point in this. He said that, while it might be a noble cause, he himself doesn't engage in projects with a very distant outlook.

What he plans to do sounds like a simple slogan: "If you can't save the country, save the people. If you can't help the country, help the people." This approach is closer to him.

Currently, Babariko is looking for a job because he believes that to work in the political field, one needs to have some income — and only then will a person work without thoughts of personal gain.

"When I got out, I said that the banking sector is closed to me. Because I am convinced: you cannot integrate into a system that is alien to you. I was a manager in the Belarusian banking system, probably would have been interesting in the Russian one. But I would hardly have been interesting in the German one. Because I simply don't know it — there are completely different principles there. Therefore, I simply crossed the banking sector off the list of my professional interests."

But once the conversation turned to the fact that Belarusians have enough problems with banks: from opening accounts to financing small and medium-sized businesses. The idea was floated that Babariko, with his knowledge, could try to create an emigrant bank.

"I somehow smiled, but thought that, probably, the topic could be interesting. But then they told me the magic word — EBRD (European Bank for Reconstruction and Development). And we, as Belgazprombank, were its largest partner. And suddenly a thought occurred to me: almost all major programs appealed to the EBRD. An emigrant bank for the development of small and medium-sized businesses could be interesting to them."

Viktor Babariko called there and asked where the EBRD is currently working. It turned out that the bank does not operate in Eastern Europe — it moved to Africa.

"I said: 'Can funding be done in Poland?' They replied: 'In Poland — we can. In Germany, we won't, but in Poland, we can.' And suddenly I thought: if a European bank becomes a partner, the idea has a right to exist. I was revived: so, we need to pursue it."

But then he met people involved in fintech, and when he started telling them how he envisioned the new bank, it turned out that there was still no point.

"At the end of the 2010s, Belgazprombank announced the slogan: 'We will kill all banks and shoot ourselves last.' It turns out it was right. Therefore, creating a bank that definitely needs to be shot immediately — there's no point. And right now, a system for building other principles of forming a financial institution and solving problems within financial institutions outside of traditional banking business is being discussed. And therefore, the very idea of a bank is wrong — I have a feeling that within 5 years all banks will be shot."

Therefore, to those who spoke to Babariko about creating a bank for emigrants, he advised creating a mutual aid fund.

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