The NBU has enabled Ukrposhta to follow a simplified license renewal procedure to renew its general license to make currency transactions.
The national operator of postal services has a general license to conduct foreign currency remittances (postal money orders), which it received before changes to currency regulation went into effect and which expires in May next year.
The amended currency regulation empowers Ukrposhta to make foreign currency remittances based on the license for currency transactions. The NBU Board has simplified the license renewal procedure. The amended procedure requires applicants to file fewer documents.
The NBU Board’s decision will enable Ukrposhta to meet the requirements of the new currency regulation without disrupting its ability to provide foreign currency remittance services to the public.
Respective changes were approved by NBU Board Resolution No. 110 On Amendments to NBU Board Resolution No. 9 Dated 2 January 2019 dated 22 August 2019, and are to go into effect on 24 August 2019.