The National Bank of Ukraine (NBU) plans to amend the rules governing the opening and closing of bank accounts by allowing future financial inclusion banks to use commercial agents to open accounts and accept deposits, according to a statement published on the NBU's website. The move is intended to align banking regulations with legislation on expanding financial inclusion.
Commercial agents will be able not only to provide consultations or offer banking services but also to prepare and conclude bank account, deposit, or escrow account agreements on behalf of a financial inclusion bank. Their activities will be governed by a separate agreement between the agent and the financial inclusion bank.
Under the current rules, bank account and deposit agreements are concluded directly between the bank and the customer. Existing regulations do not provide for commercial agents to act as intermediaries in this process. Commercial banks may open accounts without requiring customers to visit a branch in person, but only by using their own remote communication systems and electronic documents.
A limited financial inclusion banking license will be available both to companies that are not currently engaged in banking activities and to existing banks that choose to convert their standard banking licenses.
The charter of a financial inclusion bank must explicitly state its status as such, and applicants will be required to provide detailed information about their ownership structure and capital.
Financial inclusion banks will not be subject to certain enhanced capital adequacy requirements that apply to newly established or specialized banks, as their activities are already restricted by law.
