Article 11 of the Law of Ukraine “On Protection of Consumers’ rights” provides for prohibition on extending (taking) consumer loans denominated in foreign currency in the territory of Ukraine. Therefore, this prohibition applies to all categories of consumers, including non-resident individuals.

In addition, pursuant to item 1.1 of Chapter 1 of Section ІІ of the Regulation on the Procedure of Obtaining Loans in Foreign Currency by Residents from Non-residents and Granting Loans in Foreign Currency to Non-residents approved by NBU Board Resolution No. 270 of 17 June 2004, registered with the Ministry of Justice of Ukraine on 15 July 2004 under No. 885/9484, the authorized banks are entitled to transfer foreign currency outside Ukraine in order grant loans exclusively to non-resident banks.

In view of the above, the National Bank of Ukraine points out that banks have no legal grounds to grant consumer loans in foreign currency to non-resident individuals.