The Parliament has granted the National Bank of Ukraine the right to set maximum amounts of cash settlements.

The relevant draft law was approved by 270 votes; only 226 votes were required for its approval, ForUm correspondent reports.

"To grant the National Bank the right to establish maximum amounts of cash settlements for individuals and businesses, as well as for individual entrepreneurs," the explanatory note to the document states.

The parliament also granted payment systems the right to operate in Ukraine only after they are registered by the National Bank of Ukraine.

The document also granted the National Bank of Ukraine the right to determine the direction of development of modern electronic banking technologies; control the creation of electronic payment instruments, payment systems, and facilities for protecting banking information; establish the maximum amounts of cash settlements for individuals and businesses, as well as for individual entrepreneurs.

In addition, the draft law provides for establishment of a fine of 8.500 UAH (500 nontaxable minimum incomes of citizens) for restriction or prevention of exercise of the right of consumers to pay for purchases in shops with electronic means of payment.
ForUm

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