19 April 2018
In Q1 2018, the
National Bank of Ukraine (NBU) inspected 264 units of non-bank financial
institutions (NBFI) on compliance with organizing and transacting FX
Inspections were held in Kyiv city, as well as in Odesa, Kharkiv, Ivano-Frankivsk, Zakarpattia,
Lviv, Volyn, Khmelnytskyi, Rivne, Chernivtsi, Vinnytsia,
Kherson and Poltava oblasts of Ukraine.
violations found during inspections of non-bank financial institutions’ units,
letters were addressed to CEOs of respective financial
institutions requesting to explain and correct discovered violations.
of legal foreign exchange bureaus in Q1 this year the
NBU identified 11 foreign exchange bureaus that were operating illegally in
Kyiv city, Zakarpattia, Kharkiv,
Lviv and Rivne oblasts.
The NBU has passed
on the information on illegal FX bureaus to the law enforcement agencies.
In Q1 2018, the
NBU cooperation with economy protection units of the National Police of Ukraine
in Kyiv city, Kyiv oblast, Lviv oblast, and Zakarpattia oblast proved to be most effective, that
reported to the NBU on efforts taken to shut down operations of illegal FX
on illegal FX bureaus with respective photographs have been published on the
official web-site of the National Bank of Ukraine in
the section Illegal Foreign Exchange Bureaus
details on NBU general licenses issued to non-bank financial institutions can
be found on the official NBU web-site in the search engine Information on Licenses
Issued to Non-Bank Financial Institutions and Other Legal Entities (except
banks) (Ukrainian version).
of the NBU Board No. 962 dated 1 July 2016 prescribes the operating of the
Register of Premises licensed to transact
foreign exchange operations or render other financial services using domestic
and foreign currency cash.
Please be reminded, in 2017, the NBU inspected 1018 units (foreign exchange bureaus) of non-banking financial