On 22 June 2016 a concluding meeting of the Public Council at the National Bank of Ukraine (first convocation) took place due to termination of its powers.

As Mr Yakiv Smolii, the NBU Deputy Governor, stressed, for two years the Public Council has really become a platform, which meets the needs of the age and, particularly, its first composition has completed hardest tasks in times of crisis for country, its citizens and banking community.

“At times when society was in need of an appropriate dialogue with public authorities, the Public Council established a framework for such professional and democratic dialogue”, he said.

According to him, the NBU systematically works on transparency and clarity of its decisions as well as real accountability of the central bank to public.

“I hope that the hardest crisis is over now but Ukrainian financial system is still highly vulnerable to external shocks and internal risks. In addition, we have ambitious plans for the future. We should finalize the clean-up of the banking sector and reset it, promote restoration of bank lending, improve financial legislation and increase of the cashless payments share in the country”, mentioned the Deputy Governor of the National Bank of Ukraine.

Mr Yakiv Smolii expressed gratitude to the Public Council for the fruitful cooperation during 2014-2015 and wished them further efficient and responsible activity for the common future of Ukraine.

For reference

The Public Council included 11 representatives of the public organizations, representative of the Deposit Guarantee Fund and 3 representatives of banks associations, in particular:

• Mr Stanislav Arzhevitin, Association of Ukrainian Banks;
• Ms Yaroslava Avramenko, non-governmental organization Pravdyva Kraiina;
• Mr Volodymyr Buzmakov, all-Ukrainian non-governmental organization Society of Directors for information technologies of Ukraine;
• Mr Oleksandr Karpov, Ukrainian Interbank Payment Systems Members Association;
• Ms Yuliia Kyrpa, public organization Ukrainian Bar Association;
• Mr Andrii Kyiak, Deposit Guarantee Fund;
• Mr Pavlo Kurakin, Kharkiv region public organization Soyuz Zemliany;
• Ms Myroslava Muliar, public organization Centre for Financial Services Consumers Protection “Fininfo”;
• Ms Halyna Olifer, Ukrainian Credit and Banking Union;
• Ms Antonina Palamarchuk, Credit reference agency search Association;
• Mr Vitalii Riznyk, all-Ukrainian public association “Nash Zakhyst (Our Protection)”;
• Mr Ivan Storozhuk, public organization All-Ukrainian Association “Veterans for Ukraine”;
• Mr Mykhaylo Strelnikov, all-Ukrainian community organization Financial Awareness of Ukraine;
• Mr Bohdan Tsimeyko, Kyiv Independent Labor Union of Entrepreneurs;
• Mr Roman Shpek, Independent Association of the Banks of Ukraine.

In 2014-2015, the Public Council held 26 meetings, considered and adopted over 100 decisions on all current issues of banking sector activity.

Representatives of the Public Council actively participated law making and work of the Verkhovan Rada committees; worked within 8 issue-related committees and expert groups; collaborated with 16 institutions for scientific research and universities of the country, which have banking or financial law departments.