AUB News

On March 26, 2025, in Kyiv, as part of the "All-Ukrainian Forum on Financial Technologies: Trends and Prospects" organized by the Association of Ukrainian Banks (AUB), leading non-bank financial participants of Ukraine and AUB signed a Memorandum on Ensuring Appropriate Lending. The document enshrines the key principles of ethical and transparent provision of financial services aimed at protecting consumer rights and developing the non-bank lending market.

The conclusion of the Memorandum is the first step towards creating a sustainable financial ecosystem based on transparency, honesty and trust. This will help to increase the financial literacy of citizens by providing clear and truthful information about credit products, reduce the risk of credit overload, which, in turn, will contribute to the financial stability of citizens and the economy as a whole. In addition, the Memorandum will contribute to the formation of healthy competition among financial companies, which will ensure an increase in the quality of credit services and more favorable conditions for borrowers.

The Memorandum provides for a number of principles that the signatories must support in their activities, including:

• Transparency of lending conditions: Providing consumers with complete and understandable information about lending conditions, the real cost of the loan and possible commissions.
  
• Responsible creditworthiness assessment: Implementing practical assessments of borrowers' financial capabilities to prevent hot debt burden.
  
• Ethical standards of foreclosure collection: Ensuring interaction with debtors based on ethical principles, without using aggressive methods of foreclosure collection.
  
• Open communication with borrowers: Creating conditions for dialogue between lenders and borrowers, which allows for quick and effective resolution of clients' financial difficulties.
  
• Self-regulation and interaction between market participants: Implementing mechanisms for self-regulation and interaction between participants to ensure the market's increase in non-bank lending.

The Memorandum also provides for:

• Maintaining a limit of 1% of the daily rate for lending to individuals.
  
• Using a risk-based approach when assessing the solvency of borrowers.
  
• Restricting the issuance of loans at night to prevent consumers from making rash financial decisions.
  
• Transparency and responsibility in cooperation with collection companies, adherence to ethical standards of work with debtors.
  
• Inadmissibility of ownership or management of financial institutions by citizens of aggressor countries or persons associated with them.

In conditions of martial law, consumer lending plays a significant, important role in meeting the urgent financial needs of the population. It provides prompt access to most funds for citizens who have encountered temporary financial difficulties, allowing them to quickly resolve major issues.
free of charge, the Memorandum is aimed at the development of non-bank lending for small businesses, social entrepreneurship. Access to non-bank lending by entrepreneurs will contribute to economic development, job creation, attraction and increase of economic activity in the country. The development of entrepreneurship in Ukraine is one of the key elements of economic recovery. Thanks to the principles of appropriate non-bank lending, entrepreneurs will be able to obtain more opportunities for development.
The Memorandum remains open to all financial institutions that share its principles and are ready to implement appropriate lending practices. The document is based on the provisions of the Concept of Appropriate Lending and the Strategy for Lending Development, developed by the National Bank of Ukraine, which ensures its compliance with national regulatory requirements. The Association of Ukrainian Banks invites other financial companies operating in the non-bank lending market to join the initiatives and work together to create a fair and transparent lending environment in Ukraine.

Sign the Memorandum:

• Association of Ukrainian Banks
  
• LLC "MANIVEO URGENT FINANCIAL ASSISTANCE"
  
• LLC "AVENTUS UKRAINE"
  
• LLC "1 SECURE AGENCY OF NECESSARY LOANS"
  
• LLC "FINANCIAL COMPANY "NOVI CREDITS"
  
• LLC "VISIONFUND UKRAINE"
  
• LLC "Multicredit"
  
• LLC "CONSUMER CENTER"

MEMORANDUM CAN BE VIEWED ТУТ