According to the law “On Currency and Currency Operations,” Ukrainian banks have received additional powers as currency supervision entities. The relevant law was adopted on September 22 and came into effect on November 10, 2021.
For currency operation supervision purposes, banking institutions will now have the right to obtain information about client accounts opened by non-residents.
Extended powers are granted to banks for supervising currency operations conducted through these banks. The National Bank of Ukraine establishes the procedure for maintaining and using the registry records by banks.
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