The Verkhovna Rada Committee approved the draft law on the introduction of financial inclusion banks
The Committee on Finance, Tax and Customs Policy to approve draft law No. 13018-d, which proposes the creation of a new type of financial institution — financial inclusion banks. About this reported Chairman of the Committee Danylo Hetmantsev.
The purpose of this decision is to expand access to banking services for the population and businesses in front-line areas, liberated territories and sparsely populated areas.
“Banks should ensure proper access to financial services for both citizens of Ukraine (especially socially vulnerable population groups) and micro-enterprises (entities whose net annual income from any activity does not exceed an amount equivalent to 5 million euros) in areas close to the combat zone, in liberated territories, as well as in hard-to-reach and sparsely populated territories.” – the message says.
The draft law provides for the establishment of restrictions for new financial institutions in order to concentrate their work on defined target groups.
“In particular, they will not be able to conduct operations on the capital markets, and will also have limits on the amount of credit funds that can be provided to one borrower.” Hetmantsev explained.
The draft law also expands the powers of the National Bank of Ukraine, giving it the opportunity to promote the development of financial inclusion and supervise the activities of newly established banks. In addition, it is proposed to enshrine the terms “financial inclusion”, “limited banking license” and “financial inclusion bank” at the legislative level.
Currently, Ukrposhta plans to become the first financial inclusion bank in Ukraine. It is known that the government has already decided to transfer the controlling stake in Pinbank, which was previously charged to state income, to the authorized capital of Ukrposhta. Soon, more than 6,000 branches and 25,000 points of presence of Ukrposhta will start providing banking services.
