The cancellation by the National Bank of Ukraine (NBU) of the registration of the Ukrainian Financial Group (UFG) as a participant in international payment systems does not create problems for transfers through Western Union and MoneyGram (both from the USA) due to the presence of a sufficient number of other players, NBU Deputy Governor Dmytro Oliynyk has said.

"We do not expect a reduction in the volume of transfers through Western Union and MoneyGram, since users can contact any other partner of these systems," he said in an interview with Interfax-Ukraine.

Oliynik clarified that the direct participants of Western Union in Ukraine are eight banks and one non-banking institution, MoneyGram is 15 banks and one non-banking institution, in addition to which there are dozens more indirect participants.

Commenting on the reason for canceling the registration of UFG as a participant in international payment systems, the deputy governor of the National Bank noted that during the review of the documents submitted by the company, the existence of grounds for such a decision was confirmed, without going into other details.

According to information on the company's website, PrJSC UFG was founded in 1991, the company's charter capital is UAH 115 million. The company claims to be the first to cooperate with Western Union in Ukraine.

According to OpenDataBot, the final beneficiaries of UFG are: Liudmyla Babych with a share of 50.0001%, Vladyslav Babych (24.9678%) and Heorhiy Babych (24.9678%).