Drafting Regulations to Support Financial Inclusion
The National Bank of Ukraine (NBU) is moving forward with the creation of legal frameworks needed to implement the country's financial inclusion law. All proposed secondary legislation has been drafted, with a statutory deadline of June 26, 2026. The bank is currently conducting legal reviews and internal coordination before final approval.
On April 30, 2026, the NBU sent an update on the status of these regulations to the Ukrainian Parliament's Committee on Finance, Tax, and Customs Policy. The effort involves amendments to ten existing regulatory acts. Some of these have already gone through initial public consultations. Once all internal procedures are complete, the NBU Board will formally adopt the changes.
Strategy for Advancing Financial Inclusion
Separately, the central bank held its first working meeting with NovaPay to discuss the creation of a dedicated financial inclusion bank. A broader Financial Inclusion Development Strategy is expected to be unveiled later this year. Key areas under regulatory review include instructions on banking activity oversight, bank licensing procedures, risk management and internal control systems, as well as the NBU's enforcement measures.
Other amendments will address rules for cash collection and payment operations, along with provisions for using commercial agents to deliver financial payment services and conduct financial monitoring. This initiative is a critical step toward building a more inclusive financial system in Ukraine and fostering a supportive financial environment.
The financial inclusion law aims to expand access to banking products for all segments of the population, especially those historically excluded from traditional financial services. This could significantly boost the country's economic development by improving financial literacy and increasing economic participation. The new regulations will help create a more transparent and well-regulated financial system, which is essential for the stability of Ukraine's financial market.
In addition to the ongoing efforts for financial inclusion, the recent introduction of a new factoring law is set to reshape the business landscape in Ukraine. This legislation aims to provide businesses with more flexible financing options, enhancing liquidity and operational efficiency. Understanding these developments is crucial for stakeholders looking to navigate the evolving financial environment.