In 2016, the National Bank of Ukraine of Ukraine issued licenses for foreign exchange operations to 17 non-banking financial institutions.  In 2015, 11 non-banking financial obtained licenses to perform such operations.

“The National Bank of Ukraine is interested in the development of the legal foreign exchange markets while tightening control over its participants' operations. In particular, prior to issuing licenses, the NBU verifies the ownership structure of applicants, their financial standing and the sources of the funds used as equity contributions by companies intending to engage in FX operations. Our task is to create conditions necessary for the operation of a transparent, well-ordered, and competitive cash FX market. In 2017, the NBU intends to further streamline licensing terms and conditions and tighten control over license holders that have already been granted permits,” said Head of the NBU Office for Registration and Licensing Mr Oleksandr Bevz.

As of 1 January 2017, 30 non-banking financial institutions and the national postal operator Ukrposhta  held  general licenses for currency exchange operations issued by the NBU.

As of 16 March 2016, non-banking financial institutions  had 3,205 structural subdivisions, which was by 53% more than at the beginning of 2016, and 2,101 units.

As a side note, in accordance with NBU Board Resolution No. 962, the Register of premises  used by non-banking financial institutions  to conduct currency exchange operations or render other financial services involving the use of domestic currency  and FX cash became fully operational from 1 July 2016.