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Yushchenko said NBU is experiencing the best time in terms of sovereignty

Viktor Yushchenko: We have a great school and the world's highest intensity of development, so the knowledge of this school can be applied
Viktor Yushchenko: We have a great school and the world's highest intensity of development, so the knowledge of this school can be applied
Photo: obozrevatel.com

Today, no one in Ukraine can afford to publicly tell the head of the National Bank Kyrylo Shevchenko or the NBU board how to act in matters of mortgages, lines of credit, money value and other affairs, said the third president of Ukraine and former head of the National Bank, Viktor Yushchenko. He made this statement in Vienna at a press conference "Ukrainian Fintech provides payment services for foreign trade and for investors", wrote Obozrevatel on September 27.

"Now, the National Bank is experiencing the best times ever in terms of sovereignty. When I carried out the reforms of the bank, the challenges of political influence were not regulated in any way. Now, attitude towards the autonomy of the National Bank has radically changed. Now no one will publicly tell the head of the National Bank or the board how to act in matters of mortgages, lines of credit, money value, etc. It has not happened for a long time," Yushchenko said.

He added that the efficiency and independence of the NBU decisions are confirmed by the intensive growth of the Fintech market in Ukraine.

"Today, we have seven dozen commercial banks, and 150 financial institutions, which in various parts are mastering the financial market. They have good liquidity, mathematics. This all gives an answer to why we should have better dynamics of this market development than anyone else in Europe or among our neighbors. This suggests that we have a great school and the world's highest intensity of development, so the knowledge of this school can be applied", said the speaker.

At the same time, the leadership of the NBU still faces difficult tasks in regulating the financial industry, the third president emphasized.

"In my opinion, the digital payment market has complications ahead. For the National Bank, in the next five years, one of the main tasks will be to learn how to control financial institutions. This is an intellectual challenge that all financial systems and institutions will master in five years. They will have to come out of their comfort zone," Viktor Yushchenko said.

Context:

On July 16, 2020, the Verkhovna Rada appointed Kyrylo Shevchenko, the chairman of the board of the state-owned Ukrgasbank, as the head of the National Bank of Ukraine. His candidacy was supported by 332 people's deputies.

On July 14, during a telephone conversation with IMF Managing Director Kristalina Georgieva, Ukrainian President Volodymyr Zelensky said that the new head of the National Bank would be an "independent technocrat."

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Запрещены нецензурная лексика, оскорбления, разжигание межнациональной и религиозной розни и призывы к насилию.
 
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