The NBU has approved regulatory changes to establish financial inclusion banks

The National Bank of Ukraine has adopted amendments to a number of regulatory acts governing the regulation and supervision of a new type of financial institution—financial inclusion banks (FIBs). These innovations are designed to expand access to secure financial services in frontline and de-occupied territories, where standard branches are absent or internet banking is unavailable due to security risks and connectivity issues.

The approved package of documents regulates the procedure for issuing limited banking licenses to newly established FIBs or for reissuing licenses to existing banks. 

It also establishes rules for developing a strategy and business plan, the procedure for engaging commercial agents for payment services, and the specifics of integrating these processes into internal control and risk management systems. Thanks to these changes, standard requirements applicable to newly established and specialized banks will not apply to financial institutions.

This is stated in a notice on the website of the National Bank of Ukraine.

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