Banking & Financial Services Committee Meeting

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Agenda:

On January 19, the Chamber Banking & Financial Services Committee meeting took place with the agenda focused on the following issues:

1.    Draft Position Paper on FX proposals, by Mr. Igor Tykhonov, Deputy General Manager, Creditwest Bank and Mr. Kostyantyn Radchenko, ProCredit Bank.

Action: After discussion on current situation at the U.S. Dollar market, the Committee Leadership agreed to support and address the NBU  with the proposal of Creditwest Bank regarding opportunity for individuals to buy legally foreign currency at the interbank market and decrease the demand on cash Dollar by general decrease of cash in circulation - lowering the limit for cash transactions.

Mr. Radchenko presented Procreditbank’s proposal on creation of the currency exchange, but as such solution was very debatable, the Committee Leadership decided not to address it to the NBU, waiting for possible solution of organized currency market for exporter-importer based on NBU itself.

2Draft Action Plan 2015 for the establishment of economic and legal foundations for introduction of the health insurance in Ukraine, by Mr. Oleksandr Zaletov, League of Insurance Organizations of Ukraine.

 Action: After the presentation of Mr. Oleksandr Zaletov and comments provided by Mr. Andriy Peretyazko, Vice-President of AXA-Insurance, Committee Co-Chair it was decided to support and address responsible authorities with the Action Plan in the part of reformation of the health insurance in Ukraine. Also it was agreed to continue discussion on proposals regarding reformation of the tourism insurance at the next Committee meeting.

3. Proposal on publishing KyivPrime rate on the NBU’s website, by Mr. Pavlo Kazimirov, Citibank.

Special guests: Mr. Pavlo Kozak, Head of the Board and Mr. Dmytro Lazarev, Board Member of the ACI Ukraine.

Action: It was decided to find the owner of the KyivPrime Rate (as the Reuters is just administrator) and discuss the opportunity to publish the KyivPrime Rate, and in the meantime to prepare the Position Paper to the NBU with a request to influence the transparency and quality of the funding indexes.

4Banking & Financial Committee Priorities in 2015 and issues related to EU-Ukraine Association Agreement for monthly discussions, by Mr. Taras Kyrychenko, Pravex-Bank, Committee Co-Chair.

Action: Priorities for 2015 were supported by the Committee Leadership and it was decided to ask representatives of banking, insurance, leasing and other sectors to highlight the priorities of EU Directives implementation, as well as identify Chamber Member companies who might be involved into presentation and preparation of proposals regarding each EU Directive in the list.