NBU approves rules for launching financial inclusion banks
The National Bank of Ukraine (NBU) has approved a package of regulatory changes that defines the procedure for licensing, regulation, and supervision of financial inclusion banks (FIBs) and will come into force on June 26, the regulator reported on its website on Tuesday.
"A financial inclusion bank is intended to solve the issue of full access of the population, in particular socially vulnerable groups, and small businesses to financial services in remote, sparsely populated areas close to hostilities, and in liberated territories," Governor of the NBU Andriy Pyshny noted.
According to the regulator, such banks must ensure access to financial services in frontline and de-occupied territories, where banking branches are absent due to security risks or where remote service channels do not function fully due to communication disruptions.
The regulatory package defines the procedure for issuing a limited banking license to a newly created FIB and reissuing an existing banking license, requirements for internal control and risk management, as well as rules for attracting commercial agents.
An FIB must compile a strategy and a business plan for three years, and its supervisory board must review them at least once a year. The documents, in particular, must define the planned structure of the client base, service territories, development plans for service delivery channels and products, needs for human and operational-technological resources, and methods for achieving the planned results.
Reissuing the license of an operating bank involves termination of its banking license and the issuance of a limited FIB license. The NBU must make a decision on reissuing within no more than 45 business days after receiving the application.
After reissuing the license, the bank will acquire the status of an FIB and the right to carry out relevant activities from the day the limited license is issued. Within 20 business days, it must submit to the National Bank internal documents regarding financial inclusion, risk management, control, and provision of services outside branches.
A newly created bank will also acquire the status of an FIB from the day the limited license is issued, and the NBU will enter the relevant record into the State Register of Banks within two business days after making the decision.
Commercial agents of an FIB will be able to accept cash outside points of financial service delivery, unless otherwise provided by law or internal documents of the bank. The bank will bear responsibility to clients for the activities of the attracted agents.
Failure of an FIB to implement its strategy and business plan or violation of the requirements and restrictions established for it may become grounds for an unscheduled inspection. For non-compliance with special requirements, the NBU will be able to impose a fine on the bank in the amount of up to 1% of its registered authorized capital.
The changes were approved by resolutions of the NBU Board No. 61, No. 64, and No. 65 dated June 12, 2026. They will come into force simultaneously with the enactment of the law on the development of financial inclusion on June 26, after which applicants will be able to apply to the regulator for the relevant license.
The law on FIBs was developed to implement the memorandum with the International Monetary Fund, according to which the regulator was to prepare comprehensive legislative changes to solve financial inclusion problems using the existing infrastructure.
According to the World Bank estimate, the level of financial services coverage of the population of Ukraine in 2021 was 84% against the target of 95%. The full-scale invasion worsened access to such services due to the destruction and termination of operations of part of banking branches and ATMs.
As reported, the central bank considers owners of large retail chains, gas station networks, pharmacies, and postal companies, which have an extensive network of points of presence and experience in serving a significant number of clients, as potential candidates for obtaining a limited banking license.