NBU will introduce mandatory insurance of loan collateral in 2025

11:10, 16.07.2024 1 min read

The National Bank of Ukraine (NBU) intends to introduce mandatory insurance of loan collateral in 2025, Director of the NBU Financial Stability Department Pervin Dadashova said in an interview with Interfax-Ukraine.

According to her, several years ago the central bank, as an exclusively banking regulator, planned to introduce requirements for mandatory insurance of loan collateral.

However, the question of trust in insurers arose, because at that time, there were no transparent indicators of their level of stability, and borrowers could take into account the quality of insurers.

“We then went towards the banks and are still postponing this regulation as a regulator of the insurance market, because its transformation is still ongoing. In 2025, we will finally do this, confirming that both the regulator and the banks trust this segment,” she said.