The adoption of a bill introducing a ban on the issuance of foreign currency loans will have a positive effect on stimulating lending to the Ukrainian economy, President of the Association of Ukrainian Banks (AUB) Oleksandr Suhoniako has said.

He said that the state and the budget had paid a heavy price for the permission to issue foreign currency loans.

"The decision on the ban is the right one. The next step is to ban lending in foreign currency to legal entities that have foreign exchange earnings," the expert said, UKRINFORM reported.

Suhoniako noted that the adoption of this bill was the result of long-lasting work by the Association of Ukrainian Banks in order to ensure the legal protection of creditors' rights.

As reported, the Verkhovna Rada adopted a bill of amendments to some legislative acts of Ukraine regarding the settlement of legal relations between creditors and consumers of financial services on July 8. The document has yet to be signed by the president.

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