The Union of Ukrainian Entrepreneurs, as the largest united force of independent Ukrainian entrepreneurs, is always focused on maximum protection of business interests and liberalization of the domestic regulatory environment for its development. Especially in times of war like now. We always work with priority values in mind – freedom of entrepreneurship, inviolability of private property, and rule of law.
On May 1, the old licenses of companies in the non-bank financial market that provide payment services such as money transfers and acquiring under the Ukrainian Law on Payment Services have expired. Currently, the National Bank of Ukraine is carrying out the re-licensing of participants in this segment of the market. The updated licenses have already been obtained by the majority of market participants.
We are pleased to welcome the implementation of new opportunities, in particular, the opening of accounts and issuance of cards. This is a crucial liberalization for entrepreneurs and, at the same time, the entry of non-bank companies into this market is competition and savings for consumers.
It is essential not to allow dishonest companies associated with the legalization of income obtained through criminal means, tax evasion, prohibited operations, or an aggressor country to take advantage of the new opportunities. However, we hope that such companies will not be allowed in this area.
We hope that the current and future steps of the regulator will lead to stability in the market, liberalization of the legislative field, movement towards European standards, and the development of a favorable business climate in Ukraine.
