The representatives of the Action Group formed to protect the interests of consumers of banking services have had a meeting focused on setting up the Public Council at the National Bank of Ukraine. The selection of the would-be members of the Public Council and the adoption of the decision to schedule its first working meeting for June were on the agenda of the meeting.

At the same time, the National Bank of Ukraine Board has passed a Resolution establishing the legal grounding for the establishment and terms of reference of the Public Council.

Welcoming the news that the Public Council has achieved the necessary quorum to pass legally valid resolutions, Governor of the National Bank of Ukraine Stepan Kubiv said the Public Council had a great responsibility to defend the interests of citizens and promote an effective dialogue between the public and the National Bank of Ukraine aimed at finding solutions to the financial problems, including deposits, the operation of debt recovery firms and other important issues.

It should be noted the Public Council will be composed of representatives from public organizations, banking and professional associations, the Deposit Guarantee Fund and the Bureau of Credit Histories.

The Public Council in cooperation with the National Bank of Ukraine will ensure the ability of citizens to exercise their constitutional rights by getting them involved in public administration, in particular, through preparing and conducting public consultations on the protection of the rights of consumers of banking services and submitting proposals to address the issues raised. The Public Council will provide an opportunity for go-aheads that have an educational and professional background to be directly involved in the drafting of legislative proposals and devising effective and efficient mechanisms to protect the legal rights and interests of depositors and clients of banks.