The National Bank weakened the verification of some funds – who was affected by the changes

During martial law in Ukraine, the National Bank is forced to introduce some changes in the system in order for the Ukrainian economy to survive in unstable times.

Since March 11, banks have simplified the transfer of cash for the purchase of military bonds, the press service of the NBU reports.

What does it mean

During the period of martial law, the procedure for checking certain funds is simplified. Now it is weaker requirements for verification of the origin of cash, which Ukrainian banks will carry out for the purchase of domestic government bonds “War bonds”.

War bonds are securities, and the state directs the money from their placement exclusively to finance the needs of the Armed Forces of Ukraine and the needs of the country in a war.

The decree comes into force on March 11, 2022 and is valid for the entire period of martial law.

The National Bank emphasizes that The simplification applies to this particular operation. Banks are still required to take other measures to prevent and counter the legalization (laundering) of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction.

What other simplifications from the National Bank

The press service reminds that earlier, for the period of martial law in Ukraine, the requirements for verifying the origin of those going to:

• support of the Armed Forces;
• charitable assistance to support the most vulnerable categories of the population.

The National Bank introduced restrictions on foreign exchange transactions

Ukrainians are allowed to withdraw foreign currency equivalent from a foreign currency account 30 thousand UAH per day without commissions, and in national currency – 100 UAH in a day.

Abroad, you can use your payment cards for both cash withdrawals and non-cash payments. It is noted that there is no exchange for cashless payments abroad.

But any operations with Russian or Belarusian rubles strictly prohibited.

Also, “Today” talked about credit holidays from banks and who were exempted from taxes during the war.