The reform matrix, prepared by the Cabinet of Ministers in cooperation with the World Bank and presented by the Ministry of Finance, provides for the creation of a Register of owners and beneficial owners of bank and payment accounts, as well as safe deposit boxes, according to a document published by the Ministry of Finance on Tuesday.

According to the Reform Matrix regarding financial services, there are also plans to update legislation to sell state-owned banks and reduce non-performing loans by allowing market valuation and subsequent trading of NPLs.

Other tasks include connecting Ukraine to the Single Euro Payments Area (SEPA), assessing the quality of assets of the banking sector, adopting a law to strengthen the powers of the National Securities and Stock Market Commission (NSMC) and bringing legislation and regulations in line with the FATF standards and European Union regulations.