The Justice Ministry of Ukraine has returned as requiring improvement Resolution #538 of the National Bank on the procedure of currency exchange transactions, the ministry's press release says.
The Justice Ministry of Ukraine has returned as requiring improvement Resolution #538 of the National Bank on the procedure of currency exchange transactions, the ministry’s press release says.
«The justice ministry returned for improvement to the National Bank of Ukraine without state registration Resolution #538 of the NBU board dated September 9, 2009 on endorsement of amendments to the Instruction on the Order of Organization and Conduct of Currency Exchange Operations in the Territory of Ukraine,» the press release reads.
Justice Minister Mykola Onyschuk says the resolution was returned at the National Bank’s request for revision in order to bring it in line with the current laws.
The resolution provided for introduction of certain restrictions concerning currency exchange transactions in this country.
Particularly, it was envisaged to introduce the demand that exchange of more than UAH 15,000 must proceed only through cash offices of financial institutions, with obligatory identification of the client.
Beside that, it was planned to prohibit financial institutions from selling foreign currency to one person in the amount exceeding an equivalent of UAH 80,000 during one trading day.
As Ukrainian News reported, the Ukrainian Credit Bank Union believes that NBU’s demand for identification of people conducting currency exchange operations with over UAH 15,000 is unlawful.
