amendments to the law on payment services and payment systems have been prepared which are due to be adopted by the end of 2019. 1 commission delegated regulation ( eu ) 2018 / 389 supplementing directive ( eu ) 2015 / 2366 of the european parliament and of the council with regard to regulatory technical standards for strong customer authentication and common and secure open standards of communication 2 directive ( eu ) 2015 / 2366 of the european parliament and of the council on payment services in the internal market 3 regulation ( eu ) 2019 / 518 of the european parliament and of the council of 19 march 2019 amending regulation ( ec ) no 924 / 2009 as regards certain charges on cross - border payments in the union and currency conversion charges 3 / 3 bis central bankers'speeches

, around 1 / 6 of the country ’ s gdp growth was contributed by this sector, which is largely dominated and represented by the banks. besides being a factor of economic growth, the banking system has played a significant role for attracting foreign direct investments to bulgaria. a total of bgn 76. 6 billion in foreign bis central bankers ’ speeches direct investments inflow was registered over the period from 1998 to 2011, of which over 1 / 6 ( bgn 11. 9 billion ) were direct investments in the banking sector in particular. not lastly, the banking sector accounts for a large part of the “ brightest ” share in bulgaria ’ s economy. the role of banks in bulgaria should not be considered in isolation from the fact that they are among the biggest and most immaculate employers. in 2011 the number of full - time employees in the banking system reached 33 677 at year - end. with the bgn 77. 6 million in tax costs and bgn 722. 8 million in personnel costs paid in 2011 only, for example, the banking sector ranks among the largest taxpayers and contributors to the social security system in bulgaria. please note that these numbers do not even take into account the contribution by the central bank. therefore, all that is good for the banking system and allows it to perform its traditional functions, is also good for the bulgarian economy. our country can ill afford to do without the banks ’ considerable positive contribution to economic growth – which will be the effect, unfortunately, if the policymakers succumbed to certain populist sentiments that have been promoted recently by some figures who would use every occasion to come onto the media stage. there is no reason for the banks in bulgaria to be additionally burdened by ill - considered administrative regulations and the related costs. quite the contrary, the weight of such additional burden would turn back as a boomerang against the interests of our society and the bulgarian economy in general. the nihilistic attitudes to our own achievements in the past hold back enterprise and the ability to plan for the future. that slows down the economy. simply not knowing one ’ s own economic history, however, could lead to making decisions with very adverse implications. therefore, the best we could wish ourselves for the future with regard to the sector and the economy as a whole is that in the future the public interference in the banking area in bulgaria continues mainly within the confines of prudential and conservative regulations and supervisory practices. undermining the good name of the sector is a no