Zelensky signed a law expanding the powers of the National Bank.
The President of Ukraine, Volodymyr Zelensky, signed a law expanding the powers of the National Bank in the regulation of financial services. The law allows financial companies, pawnshops, and credit unions to provide payment services based on a primary license without obtaining an additional one. In addition, it establishes the possibility for the NBU to conduct inspections online with remote access to the necessary documentation and information. Responsibility for violations in the field of payment services is also increased, with fines increased.
On October 1, the National Bank set a temporary limit for money transfers by individuals from card to card. The limit of 150 thousand UAH per month will be in effect for six months. This restriction applies only to transfers to cards of other individuals within the same bank. Ukraine will also establish a financial inclusion bank, which will operate under a specially limited license.
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