The National Bank of Ukraine has allowed the nonbank financial institutions (NBFIs) and the national postal operator to re-register general licenses for currency transactions before the expiration of their current general licenses if they have an expiration date. This was done to ensure the continuity of their foreign exchange operations.
From now on, NBFIs and the national postal operator have the right to apply to the NBU for reissuing of the licenses no later than two months before the expiration of their current general licenses. Then, the NBU will be able to decide whether to reissue the license before its expiration.
Also, the NBU clarified the right to perform transactions and changed the procedure for issuing of licenses for currency transactions to NBFIs and postal operators:
- First, postal operators are allowed to perform FX operations and provide financial services related to buying or selling cash currency valuables, under Article 9 of the Law of Ukraine On Currency and Currency Operations solely under the license for currency transactions.
- Second, the NBU will not apply to postal operators the requirement to have at least three-year-long history of hryvnia transfer services when issuing a license for trading in cash currency valuables.
The aforementioned amendments were approved by NBU Board Resolution No.28 On Amendments to Certain Regulatory Documents of the National Bank of Ukraine dated 5 February 2019. The aforementioned document amends NBU Board Resolution No. 9 On Approval of Amendments to Certain Regulatory Documents of the National Bank of Ukraine dated 2 January 2019. It enters into force on 7 February 2019, except for novelties in the procedure for issuing of licenses for currency transactions to NBFIs and postal operators.