KyivPost

Yanukovych vetoes bill on ban on consumer loans in foreign currency

Print version
Aug. 1, 2011, 8:44 p.m. | Ukraine — by Interfax-Ukraine

Viktor Yanukovych has vetoed a bill passed by lawmakers in July 2011 regulating relations between lenders and consumers of financial services.

Ukrainian President Viktor Yanukovych has vetoed a bill passed by lawmakers in July 2011 regulating relations between lenders and consumers of financial services (bill No. 7351). The bill, which foresaw, among other things, a ban on consumer loans being made in foreign currency, was returned to parliament for repeat consideration, along with proposals from the president.

Detailed information about the presidential proposals has not been disclosed yet.

The bill contained a number of provisions aimed at safeguarding lenders' rights - it contained measures to improve the bankruptcy procedure, the execution of claims to recover a debtor's property, and on the sale of rights of claim on loan agreements.

The Association of Ukrainian Banks said that once adopted, the legislation would be an important measure to boost lending in Ukraine.
comments powered by Disqus

KyivPost

© 1995–2014 Public Media

Web links to Kyiv Post material are allowed provided that they contain a URL hyperlink to the www.kyivpost.com material and a maximum 500-character extract of the story. Otherwise, all materials contained on this site are protected by copyright law and may not be reproduced without the prior written permission of Public Media at news@kyivpost.com
All information of the Interfax-Ukraine news agency placed on this web site is designed for internal use only. Its reproduction or distribution in any form is prohibited without a written permission of Interfax-Ukraine.