The Rada supported the creation of a "postal bank" based on "Ukrposhta": the draft law was adopted in the second reading

The Verkhovna Rada adopted in the second reading the draft law on the creation of a financial inclusion bank on the basis of "Ukrposhta". This is reported by UNN with reference to MP Yaroslav Zheleznyak and the draft law card №13018-d.

13018-d - introduces Financial Inclusion Banks (FIBs) with a limited license to provide financial services in areas with low access // in general (260) 

According to the draft law, it is planned to introduce a new type of bank - a financial inclusion bank, which operates on the basis of a limited banking license, the main purpose of which is to ensure financial inclusion.

The draft law introduces the concept of "limited banking license" - a banking license issued to a financial inclusion bank for carrying out banking activities in accordance with the requirements and subject to the restrictions established by law, as well as regulatory legal acts of the National Bank of Ukraine.

The concept of "financial inclusion" is also introduced – creating conditions for clients that ensure equal access to banking, payment and other financial and related services, taking into account the principle of non-discrimination, regardless of the level of personal income of an individual and other factors that prevent clients from using such services.

"The activities and strategy of the financial inclusion bank should be aimed at ensuring clients' access to banking, payment, other financial and related services, including in territories with special conditions for development and recovery territories," the document says.

The NBU is empowered to establish requirements for the activities of a financial inclusion bank and the specifics of regulation and supervision of its activities.

The financial inclusion bank has the right to provide services exclusively to individuals, business entities, public and charitable organizations, the amount of annual income from any activity does not exceed the amount equivalent to 5 million euros, as well as public authorities and local governments.

The financial inclusion bank is prohibited from:

• making investments in securities, with the exception of domestic government bonds and deposit certificates of the National Bank of Ukraine;

• providing financial services within the professional activity in the capital markets.

The financial inclusion bank, in accordance with the requirements established by the National Bank of Ukraine, has the right to provide financial payment services in the national currency outside the bank premises (bank branch), except for accepting cash for crediting to a deposit (deposit); to offer, prepare and conclude agreements on banking, payment, other financial and related services, as well as to provide relevant advice.

To obtain a limited banking license for a legal entity to operate as a financial inclusion bank, it submits the relevant documents to the National Bank of Ukraine:

• copies of the bank's internal regulations governing the provision of banking and other financial services as a financial inclusion bank;

• the financial inclusion bank's strategy and business plan for three years, drawn up in accordance with the requirements of the National Bank of Ukraine.

Such documents must contain a detailed description of measures to develop financial inclusion, including:

• planned structure of the client base by client segments;

• description of the planned service areas with a clear definition of the areas in which access to financial services, as of the date of submission of documents, was absent or severely limited, including areas with special conditions for development and recovery areas;

• plans for the development of service delivery channels that would promote financial inclusion.

Let us remind you

Strengthening the limits on transfers from card to card to UAH 100,000 from UAH 150,000, which will take place in June, will affect those who carry out entrepreneurial activities without paying taxes. This will not affect officially registered entrepreneurs.