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The National Bank of Ukraine Proposes to Enhance the Transparency of Transactions Involving Cash Acceptance for Its Further Transfer

11 August 2017

 

 

The National Bank of Ukraine seeks public opinion on a draft resolution of the NBU Board On Amendments to NBU Board Resolution No 42 of 12 February 2013  (hereinafter – Draft Resolution).

 

This document is intended to impose a requirement nonbanking financial institutions and commercial agents to open a separate account to be credited with hryvnia cash accepted for its further transfer.

 

The Draft Resolution aims to tighten control over operations involving acceptance of hryvnia cash for its further transfer that are performed by financial institutions and commercial agents.

 

If adopted, this resolution will help enhance the transparency of these transactions and prevent risks arising from the use of accepted cash in corrupt schemes.

 

The Draft resolution has been posted on the NBU’s  official website for public consultation as in accordance with the Law of Ukraine On Fundamentals of the State Regulatory Policy in the Field of Economical Activities this regulation shall be subject to promulgation in order to  receive   comments and proposals from legal entities, individuals and  their associations.

 

 

 

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Last modification   11.08.2017