Verkhovna Rada supports creation of "postal bank" based on Ukrposhta in 1st reading

The Verkhovna Rada has supported the creation of a "postal bank" based on "Ukrposhta" in the 1st reading.

Danylo Hetmantsev, a member of the Verkhovna Rada from the Servant of the People faction, head of the parliamentary committee on finance, tax and customs policy, announced this on his Telegram channel, the Ukrainian News agency reports.

The Parliament voted for draft law N13018-d on amendments to certain legislative acts of Ukraine on the development of financial inclusion in Ukraine as a basis.

The draft law provides for:

1) to introduce a new type of bank - a financial inclusion bank, which will operate on the basis of a limited banking license, the main task of which is to serve clients who currently do not have sustainable access to financial services (citizens of Ukraine and micro-enterprises in areas close to the combat zone, in liberated territories, as well as socially vulnerable groups of the population);

2) to define at the legislative level the terms "financial inclusion", "limited banking license", "financial inclusion bank", and also to empower the National Bank of Ukraine with the authority to promote the development of financial inclusion;

3) to provide that the financial inclusion bank will be able to provide banking and other financial services exclusively to individuals, business entities, public and charitable organizations, the volume of annual income from any activity of which for the previous reporting calendar year does not exceed the amount equivalent to EUR 5 million, determined at the official exchange rate of the hryvnia against foreign currencies established by the National Bank of Ukraine, as well as to state authorities and local governments;

4) to ensure a focus on the relevant target groups of clients, to limit financial inclusion banks in conducting operations on capital markets, as well as to establish restrictions on the total amount of credit funds that can be provided to one borrower, etc.

The main purpose of the draft law is to create legal foundations for the emergence of a new type of financial service providers on the Ukrainian financial services market - financial inclusion banks.

As the Ukrainian News agency earlier reported, in September 2024, Ukrposhta announced that it plans to obtain a limited banking license.

The parliamentarians propose that the Verkhovna Rada allow the creation of financial inclusion banks with limited licenses.

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