AUB News

The Association of Banks of Ukraine continues to work actively to develop the country's financial system, introduce innovations and strengthen international cooperation. In July 2023, significant results were achieved in addressing issues of the banking and non-banking sectors.

Banking sector issues

The Association of Banks of Ukraine continues to work actively to develop the country's financial system, introduce innovations and strengthen international cooperation. In July 2023, significant results were achieved in addressing issues of the banking and non-banking sectors.

Banking sector issues
The Association established a working group to discuss the Central Bank Digital Currency (CBDC).

The Association's Information and Analytical Department has collected and consolidated issues to obtain clarifications from the National Bank of Ukraine on the formation and storage of mandatory reserves for documentary operations in accordance with Decision No. 752 of 23.11.2017.

Issues of non-bank financial institutions

Issues of non-bank financial institutions

• The Association sent a request to the NBU to amend Resolution No. 18 dated February 24, 2022 to facilitate the provision of payment services related to the purchase of goods from abroad for consumers who do not use payment cards.

• A response was received to a request to the NBU regarding the practical application of the provisions of the Regulation on Licensing and Registration of Financial Service Providers. The NBU noted that financial service providers independently determine the frequency and grounds for conducting inspections of compliance of managers with the requirements of professional suitability and business reputation. Amendments to Regulation No. 153 are also being developed.

• The Association reviewed the NBU's letter on the proper organization of corporate governance, efficiency and adequacy of the AML/CFT management system and internal control of the bank.

Participation in thematic events

• On July 10, 2023, a meeting was organized between representatives of banks, non-bank financial institutions and the NBU and representatives of the Verkhovna Rada of Ukraine to discuss the draft Law of Ukraine “On Personal Data Protection”. The parliamentary representatives were Taras Tarasenko, People's Deputy of Ukraine, Yulia Derkachenko, Information Rights Representative of the Ukrainian Parliament Commissioner, and Lilia Oleksiuk, member of the Committee's working group. They discussed the issues of synchronization with the GDPR and organizational changes in the work with personal data.
• On July 15, the Association of Ukrainian Banks gathers more than 50 heads of banks and financial companies for shooting, self-defense, and firefighting training.
• On July 21, representatives of Ukrainian banks meet to discuss the NBU's urgent requirements for the functioning of the AML/CFT risk management and internal control system. Proposals and problematic issues were discussed in accordance with the current legislation.
• The first meeting of the working group was held to discuss the benefits of using CBDC and the challenges to the introduction of the digital hryvnia.

Sincerely yours,
Team of the Association of Ukrainian Banks

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