Proposed NBU regulations allow commercial agents to partner with financial inclusion banks – key changes ahead.

How the new NBU rules reshape financial inclusion banking

According to Мінфін — Крипто/Фінанси: Ukraine's central bank, the National Bank of Ukraine (NBU), has unveiled a draft resolution that would let financial inclusion banks hire commercial agents to deliver a range of banking services. Financial inclusion banks are a specialized category of institution aimed at extending banking to underserved segments of the population. The proposal is now open for public consultation.

Under the planned framework, commercial agents would be able to advise customers and sign contracts on behalf of financial inclusion banks. These changes stem from the activation of specific provisions in the law on financial inclusion development. The law on financial inclusion banks itself took effect on December 26, 2022, paving the way for new service delivery models.

Beyond banks, the same law permits other companies with an annual net revenue of at least €5 million to offer financial services. This reflects the NBU's goal of broadening access to finance and fostering greater market competition.

Expected impact on financial inclusion

By enabling commercial agents, the NBU initiative has the potential to transform Ukraine's financial inclusion landscape, welcoming new players and raising the standard of client service.

Improved access to financial resources is anticipated, especially in areas where traditional bank branches are scarce. The involvement of commercial agents could not only expand the customer base but also enhance service quality through competitive pressure. These developments are crucial for advancing financial inclusion in Ukraine and may have a positive effect on the country's economy.