NBU reveals details of microcredit reform: what borrowers can expect

A meeting took place at the National Bank of Ukraine with Deputy Chairman Dmytro Oliinyk and representatives of microfinance organizations and non-bank associations. Important issues such as sector consolidation, self-regulation, combating unlicensed activities, and legalizing virtual assets were discussed.

Also on the agenda were practical cases that concern the regulator and joint efforts with the market to combat negative phenomena. The necessity to strengthen cooperation to enhance financial security and market stability was agreed upon.

“One of the important areas of joint work with the market is combating the black market, where companies provide financial services without the necessary licenses, violating consumer rights and posing a threat to their financial security,” emphasized Dmytro Oliinyk.

The meeting also addressed issues related to lead generation, creating healthy advertising tools, and requirements for microfinance organizations in the context of Eurointegration. Plans were made to strengthen monitoring and information exchange to prevent financial crimes.

Work on the mentioned issues is ongoing, as they are crucial for the financial security of consumers and the stability of the financial market as a whole.