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NBU Clarifies Procedure for Inspections of CIT Companies and Approves 2019 Inspection Schedule

10 January 2019


The NBU has clarified the procedure for inspecting the legal entities licensed by the NBU to provide cash collection services to banks (the CIT companies).


In particular, the NBU has:

      clarified the requirements for organization of planning and conduct of inspections of such legal entities

      established the procedure for preventing an actual or potential conflict of interest of the leader and members of an inspection group that may arise due to the inspection

      set the deadline for the NBU to provide a legal entity with the list of documents and other materials required for the inspection

      resolved other issues that had occurred in the course of implementation of the procedure for inspection of the CIT companies.


Respective changes are stipulated in NBU Board Resolution No. 151 On Approval of Amendments to Regulation on the Procedure for Inspection of Legal Entities Licensed by the NBU to Provide Cash Collection Services to Banks dated 22 December 2018.


This document comes into effect on 11 January 2019.


The NBU has also approved the 2019 schedule of inspections of such legal entities.


For the purpose of enhancing the transparency of supervision of the CIT companies’ activities, the NBU will publish such schedules annually.


In 2019, the NBU will inspect six CIT companies. As of now, nine legal entities have been licensed by the NBU to provide cash collection services to banks.

Last modification   10.01.2019