The President of Ukraine Vladimir Zelensky has signed a law prohibiting the return to former owners of PrivatBank.

This was reported on the website of the President. Note that this document was the last requirement of the IMF for the loan to Ukraine.

“The implementation of the provisions of the law will help to improve the quality and efficiency of implementation of the National Bank (NBU) of its functions in the sphere of banking regulation and supervision, to complete the procedure of withdrawal of banks from the market/liquidation of banks, the decisions of the abolished courts”, – stated in the message.

In addition, the law introduces updated arrangements of the withdrawal of banks from the market, aimed at improving liquidation procedures and meet the requirements of an increasing number of creditors of the liquidated Bank, as well as improving the mechanisms of possible participation of the state in removing the Bank from the market.

“This step will contribute to the reliability and stability of the banking system, restore confidence by depositors and creditors”, – stressed in the President’s Office.

Zelensky also signed the law on amendments to the Tax code, necessary for cooperation with the IMF.

It involves improvement and simplification of the tax administration according to international standards.

Recall that the enactment of law No. 2571-d, which regulates banking activities, was one of the conditions of cooperation with the International monetary Fund and Ukraine’s receiving a loan.

As reported by OBOZREVATEL, on 21 may, the document was sent for signature Zelensky. The Verkhovna Rada adopted the law on may 13 on second reading and in General.

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