For the first time in the country’s history. Ukraine has taken a step to launch a postal bank

“For the first time in the country’s history. Ukraine took a step to launch a postal bank September 20, 10:29 Share: Ihor Smilyanskyi, Director General of Ukrposhta (Photo: Natalya Kravchuk / NV) Thanks to the joint work of the National Bank of Ukraine, the Verkhovna Rada, the Office of the President and Ukrposhta, Law 12044 was prepared and submitted to the VRU on solving the issue of financial inclusion, which opens the way to the start of the postal bank. About it on Facebook”, — write on: ua.news

General Director of Ukrposhta Ihor Smilyanskyi announced this on Facebook. “This law is a joint position and the result of the work of all parties, so it must be passed. The project is also supported by the Ministry of Development of Communities, Territories and Infrastructure of Ukraine, the Ministry of Economy of Ukraine and the Ministry of Finance of Ukraine. As they say, we have a powerful coalition,” Smilyanskyi said.

“What just recently seemed impossible has become a reality.

This is very important news in the run-up to winter, when enemy attacks on energy infrastructure may cause problems with financial services, especially in frontline and rural areas. They can, but now I’m sure they won’t,” Smilyansky emphasized.

He also noted: “Many thanks to the NBU team, the head of the NBU Andriy Pishnyi and Deputy Chairman Dmytro Oliynyk, who conducted difficult but productive negotiations with the IMF, and the issue of financial inclusion was reflected in the IMF memorandum. So we do not violate anything, we found a compromise solution for all parties.

Of course, I thank the specialized committee of the Verkhovna Rada and its chairman, Danyla Hetmantsev, for the prompt processing (during the week) and preparation of the text of the draft law. I would like to note that since 2019, the Committee on Finance, Tax and Customs Policy, as well as the Committee on Transport and Infrastructure Yuri Kysel, have always paid attention to this issue and supported it. Well, I hope that many deputies will join in the rapid adoption of the law, and the issue of providing banking services will be resolved in their regions.”

“And for those who do not really like to read the texts of laws, briefly about him:

• For the first time in the history of Ukraine, banking services will be available on 100% of the country’s territory (today, banks and ATMs are present in only 4% of settlements).
• Every company or bank ((not only Ukrposhta) can become a financial inclusion operator (so no betrayal of the law “under someone”).
• A financial inclusion operator is a bank limited in lending to large companies and some foreign exchange operations. Everything else is like a regular bank, so no privileges and 100% fair competition.
• The financial inclusion operator must comply with all NBU regulations, and all its deposits are insured by the Deposit Guarantee Fund.

The regulatory documents of the NBU will provide for the possibility of providing banking services at home (which is important, considering the number of people with disabilities) and in the absence of light and communication,” Smilyansky emphasized.

It was previously reported that Ukraine undertook to develop a draft law on a new limited specialized banking activity — a postal bank — by the end of July 2024.

The purpose of the draft law is to develop and issue a license that will help to quickly solve the growing problems of financial availability through the use of existing infrastructure, such as the postal network, especially in territories affected by hostilities. This is stated in the agreement signed by the IMF and Ukraine as part of the fourth revision of the EFF extended financing program.