The National Bank of Ukraine

The National Bank of Ukraine is the primary financial institution of the country, legally organized to ensure the stability of the currency and the national economy.  The legal status, principles of organization and activities of the National Bank of Ukraine are determined by the Constitution of Ukraine and the Law of Ukraine "On the National Bank of Ukraine."  According to the Constitution, the main function of the National Bank is to ensure the stability of Ukrainian currency – hryvnia (UAH).  Its authorized capital amounts to UAH 10 million and is state-owned property, fully entrusted to the National Bank for its wellbeing.

The National Bank of Ukraine carries out the following functions:

1.    Determines and pursues the monetary policy in accordance with the General Principles of the Monetary Policy developed by the Council of the National Bank of Ukraine.
2.    Issues the national currency of Ukraine on a monopoly basis and organizes its circulation.
3.    Establishes the rules for conducting banking transactions, accounting and reporting, and for protecting information, funds and property for the banks and other financial and credit institutions.
4.    Organizes and provides the methodology to support Ukraine’s system of monetary, credit and banking statistical information and the statistics of balance of payments.
5.   Determines the areas for the development of modern electronic banking technologies; establishes, coordinates and controls the creation of electronic means of payment; and controls payment systems, automated banking, and banking information protection facilities.
6.    Regulates and supervises all banking activities in Ukraine.
7.    Keeps a register of banks, their branch and representative offices, currency exchanges and financial and credit institutions; licenses banking business and transactions if provided for by the laws.
8.    Compiles, analyzes and forecasts balance of payments.
9.    Represents Ukraine's interests in central banks of other states, international banks and other crediting institutions where cooperation takes place at the level of central banks.
10.   Regulates currency as defined by special law, determines the procedures for effecting payments in foreign currencies, organizes and exercises currency control over the commercial banks and other credit institutions that are in possession of a National Bank's license for transactions with currency values.
11.    Ensures the accumulation and custody of gold and currency reserves and conducts appropriate transactions of currency and banking metals.
12.    Analyzes the status of monetary, crediting, financial, price forming and currency relations.
13.    Organizes the collection and transportation of bank notes, coins and other items of value.
14.    Implements the national policy for protecting confidential information within the system of the National Bank.
15.    Takes part in training of personnel for Ukraine s banking system.
16.    Exercises other functions in the monetary and crediting sphere within its responsibilities as defined by the law.

Nova Mova Worldwide Business Communication LLC
+1-303-495-3116
 

Ukrainian Time

Time Difference between Ukraine and U.S. to be Shorter in March [More]
 

Foreign Investments in Ukraine

Azerbaijani Company to Build Food Factory in Rivne Oblast [More]

New Flights from Ukraine

Wizz Air Adds Flights from Ukraine to Germany and the U.K. [More]

Winery in Ukraine

Italian Winemaker Buys Odessa Winery of Ukraine [More]

Foreign Affairs

Ukraine and USA Sign Strategic Partnership Agreement [More]

Industry in Ukraine

Ukrainian Industrial Production Falls [More]

Real Estate

Ukrainian Cities with the Most Expensive Real Estate Prices [More]