Financial sector news

The National Bank of Ukraine has announced further amendments to currency restrictions aimed at: 

• Increase the investment attractiveness of Ukraine:
  • Allowing domestic companies to reimburse non-residents for participating in the provision of an external loan to a Ukrainian borrower
  • under guarantees of foreign export credit agencies, foreign states or IFIs.
  • Allowing transfers of funds in favor of foreign companies with a state shareholding to pay for insurance against military risks in Ukraine.
  • Allowing residents to transfer funds under guarantees and sureties provided for external loans and borrowings (with the permission of the resident borrower).
  • Allowing resident borrowers to purchase foreign currency for reserve purposes under a loan agreement with an IFI.
  • Unification of approaches to the payment of scheduled interest (coupons) on external corporate debt.

"This will enable Ukrainian companies to raise new funds, stimulate investment, and ultimately have a positive impact on our economy. This is one of the steps aimed at making Ukraine more attractive to foreign investors," - NBU Governor Andriy Pyshnyi said on Facebook.

• Enhancing Ukraine's defense capabilities and supporting the volunteer community:
  • Expanding the list of defense goods that individuals-volunteers can purchase abroad (UAV components, thermal blankets and thermal heaters were added).
  • Enabling non-residents to make charitable contributions in hryvnia to the accounts of government agencies and charitable foundations to support defense capabilities and the needs of the population.

"Supporting volunteers and strengthening the country's defense capabilities remain priorities for the NBU. We are constantly looking for ways to optimize our tools to make our assistance more effective," the NBU Governor emphasized.

• Support for the population and business:
  • Allowing individuals to return social benefits received in a foreign country.
  • The possibility for businesses to pay fees for actions related to the protection of intellectual property rights (including services of patent offices and attorneys abroad).

"We understand that the war has had a significant impact on people's lives and business operations. That is why we will continue to take measures to minimize the negative consequences and support Ukrainians," assured Andriy Pyshnyi.

• Clarification of certain regulations:
  • Specifying the limit of UAH 100 thousand per day for the purchase and sale of cash foreign currency for non-cash funds in hryvnia (corresponds to the limit for cash withdrawals from current accounts).
  • Clarification of the list of transactions on the accounts of foreign companies.

The amendments will come into force on July 11, 2024.