NBU hopes for support of banking bill

"The Verkhovna Rada committee on finance, tax and customs policy has just recommended supporting banking bill No. 2571-e at second reading and as a whole. [...] We hope for speedy consideration of the bill in the Verkhovna Rada," the report reads.

The NBU said that this law is one of the preconditions for a new program of cooperation between Ukraine and the IMF. It will make the process of withdrawing banks from the market inevitable. The NBU's decision to withdraw banks will not be revoked. The liquidation of the bank will continue under any circumstances, and the courts will not be able to replace the NBU.

The owners of bankrupt banks will be given an opportunity to defend their rights. The law clearly sets out the prerequisites and procedure for obtaining compensation. The bank owner will be able to go to court and prove the case if the NBU unlawfully made a decision to withdraw a bank from the market and then prove that damage was done.

"The adoption of this bill depends not only on the health of the banking sector, but also on the financial system of Ukraine as a whole," the NBU said.

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