By KYIV. Dec 5 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) has developed and submitted for market discussion a draft model charter of a credit union, on the basis of which market participants will also be able to carry out activities from the moment the law on credit unions comes into force (January 1, 2024), according to the website of the regulator.
The model charter defines the core provisions and will contain both recommended default provisions for credit unions and provisions that credit unions can choose based on the specifics of their own business model.
The NBU emphasizes that the draft is not a regulatory act and does not provide for the obligation of credit unions to operate in accordance with the model charter or to bring their activities into compliance with it.
Carrying out activities on the basis of the model charter is the right of the credit union. Each credit union will independently decide on the basis of which constituent document to continue its activities.
Comments and suggestions on the draft resolution of the NBU board on approval of the model charter of a credit union will be accepted until December 15, 2023.
