The National Bank of Ukraine has  issued  License No. 3 of 24 May 2017 to First Cash-in-Transit Company LLC for the provision of cash collection services.

This is the third legal entity to  have been granted a license to provide cash collection services.

The NBU has already  issued a license to CIT Security LLC and Ukrainian Service Collection for the provision of cash collection and cash-in-transit services to banks.

The NBU seeks to contribute to the  development of a competitive market of cash-in-transit services and granting access to the cash-in-transit services market  to CIT companies is an integral part of the new Policy on Cash Circulation. 

Under a delegated model of cash handling, the NBU contracts out part of its functions that are performed in the regions  to other market participants, including Cash-in-Transit companies (CIT-companies).