Representatives of the Association of Ukrainian Banks have discussed with members of the National Bank the need to simplify procedures for currency exchange transactions in small volumes, AUB President Oleksandr Suhoniako says.

The parties agreed that the fight against criminalization of the market is a common task. They discussed different options for removal of operational risks that have arisen in connection with the introduction of new rules for foreign exchange transactions. "The passport does not solve the problem of demand for the currency," Suhoniako said, according to UKRINFORM.

He also said that the decision to simplify the procedure of exchange operations has already been found and prepared. The NBU has the legislative right of initiative, that is, the decision can be taken through the introduction of new legislation, the AUB president said. The document contains the rule that currency exchange transactions in small amounts will be conducted without a passport.

Suhoniako also reported that few banks would buy ATMs for currency exchange, because it is very expensive.

"The purchase of ATMs, which could exchange currency without documents, is very expensive: very few banks will purchase them. Most probably, the information (on foreign exchange ATMs - Ed.) is a fresh newsbreak and nothing more," he said.

When asked about a possible size of the fee for using the services of such ATMs, the banker found it difficult to answer: "This is a market mechanism, and talk about figures is not possible currently. Moreover, there is an option that they will never appear."

As previously reported, the Director General of the National Bank's Monetary Policy Department, Olena Shcherbakova said that the capital city's banks will buy and install about 50 ATMs for currency exchange.

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