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Financial Sector Development

Strategy of Ukrainian Financial Sector Development

The National Bank of Ukraine (NBU), the National Securities and Stock Market Commission (NSSMC), the Ministry of Finance of Ukraine (MoF), Ministry of Economy of Ukraine (MoEс) and the Deposit Guarantee Fund (DGF) implement Strategy of Ukrainian Financial Sector Development, focused on countering russian aggression and restoring the country, which was developed in 2023 (to replace the pre-war strategy).

The Strategy was updated it in 2025. The changes to the Strategy were approved by the Financial Stability Council on June 26, 2025.

The strategy of financial sector development is based on the current context, takes into account high risks and uncertainty, and factors in the effects of the russian invasion on the environment in which the financial system operates.

The Strategy sets common priorities for regulators of the financial system that will enable the coordination of actions for ensuring the country’s financial resilience and the development of financial inclusion and accessible and barrier-free financial services. 

The implementation of the Strategy will lay the groundwork for the sustainable and dynamic development of Ukraine’s financial sector and its competitiveness amid progress towards EU accession and integration into the global financial space. It will create conditions for reinforcing Ukraine’s potential on its way to victory and will contribute to the start of transformations needed for the reconstruction and growth in the national economy both during and after the full-scale war.

Vision of the ukrainian financial sector: The financial sector of Ukraine is stable, efficient, competitive, integrated into the global environment, and capable of meeting challenges, developing, and contributing to the recovery of the Ukrainian economy.

Mission of the financial sector of Ukraine: The regulation of the financial sector ensures the accumulation, distribution, and circulation of financial resources on the basis of financial stability, inclusion, cybersecurity, and the spread of cutting-edge technology to promote the recovery of Ukraine's economy and support the well-being of its people.

Regulators of the Ukrainian financial sector and the DGF presented the Strategy on 29 August 2023. The Strategy has been developed within the framework of the Financial Stability Council since May 2023. The Strategy was approved by regulations of institutions that developed it, in line with the established procedure. At the NBU, the Strategy was approved by NBU Board Decision No.299 dated 29 August 2023 (as amended on July 31, 2025, approved by the decision of the Board of the National Bank of Ukraine No. 264-рш).

The Strategy is based on and takes account of relevant measures of the Strategy of Ukrainian Financial Sector Development until 2025 (terminated in 2023). The results of the latter can be found by going to the link. 

The NBU is open to discussions and continues to gather proposals for the next revision of the Strategy at its e-mail address: [email protected]

Strategic directions of development

The Strategy aims to implement five strategic goals: macroeconomic stability, financial stability, the financial system operates for the country’s recovery and integrating into the EU, modern financial services, and the institutional capacity of regulators and the DGF.

Strategic directions of financial sector development
Infographic description: financial sector strategy structure

This infographic illustrates the strategic framework for developing the financial sector of Ukraine. The structure is designed in the shape of a pyramid and hexagonal blocks, highlighting logical connections among core components:

  • At the top: VISION – the long-term desired state of the financial sector.
  • Beneath it: MISSION – defines the financial sector's purpose and role.
  • Then: STRATEGIC GOALS, shown as five interlinked hexagons:
  1. Macroeconomic stability
  2. Financial stability
  3. Financial system operates for the country's recovery
  4. Modern financial services
  5. Institutional capacity of regulators and the Deposit Guarantee Fund

Each hexagon represents one strategic goal. These blocks are visually linked to the mission and vision above and the action level below.

At the bottom is the foundation: STRATEGIC INITIATIVES – which represent the practical actions and reforms planned to achieve the above goals.

The entire diagram emphasizes alignment between vision, mission, strategic priorities, and implementation instruments within Ukraine’s financial sector strategy.

GOAL I. Macroeconomic stability
  • Sustainable hryvnia
  • Sustainable public finances
  • Enhancing long-term sustainability of the pension system
GOAL II. Financial stability
  • Harmonization of regulatory approaches
  • Balanced regulation and supervision aimed at development of financial institutions
  • Balanced regulation and supervision aimed at development of capital markets
  • Sustainable and capable capital markets
  • Development of state-owned financial institutions
  • Creation of a comprehensive system for rehabilitation and resolution of failed participants
  • Enhancing sustainability and efficiency of guarantee  schemes for deposits and investments
GOAL III. Financial system operates for the country’s recovery and integrating into the EU
  • Supporting and developing the economy
  • Development of sustainable finance
  • Developed capital markets infrastructure
  • Introducing new financial instruments and improvement of existing ones
  • A responsible and inclusive financial market
  • Recovery of the financial sector
  • European integration of the financial sector
GOAL IV. Modern financial services
  • Development of infrastructure for digital financial services
  • Automation and paperless technologies in provision of financial services
  • Regulation of virtual assets
  • Digital defense of the financial sector
  • Financial infrastructure recovery
GOAL V. Institutional capacity of regulators and the Deposit Guarantee Fund
  • Ensuring uninterrupted operation of regulators and the DGF
  • International cooperation
  • Improving the operational efficiency of regulators and the DGF
  • Integral and comprehensive IT infrastructure for public authorities
  • Increasing the institutional capacity and financial independence of regulators and the DGF

 

 

The Working Group on Financial Development under the Financial Stability Council is the monitoring and controlling body for the Strategy implementation. Deputy heads of the financial sector regulators and the DGF participate in the Committee. The unified center for monitoring and control over the implementation of the Strategy allows coordinating the activity of members, determining joint areas of implementation of projects, and applying a transparent decision-making mechanism and uniform standards of project management. The report on the implementation of the Strategy as of the end of 2024 can be found in the list of Useful Materials.