The National Bank of Ukraine has tightened requirements for the premises of non-banking institutions. The regulator has established unified rules for the organization of protection of the premises of institutions operating on the currency market.

This is reported by the press service of the NBU.

In particular, the National Bank provided for:

the obligation to equip the premises of a non-banking institution with video surveillance systems;

the mandatory use of security, technical and physical, depending on the volume of cash handled by nonbank institutions;

the obligation to equip the workplace of a cashier of a non-banking institution, depending on the volume of cash, either with cash registers or with structural elements of fencing constructions;

compulsory storage of valuables in a vault or safe used as a vault.

"This decision is a continuation of the NBU's measures to tighten requirements for the premises of non-bank institutions licensed by the NBU to conduct foreign exchange transactions to improve security under martial law," the report says.

It is also caused by the need to balance the requirements for the activities of banks and non-bank institutions in the market of financial services, in particular, foreign exchange transactions, as well as enhanced security and protection of cash employees and clients of non-banking institutions, the press service noted.

The decree #166 will take effect from November 1, 2022. This will give non-bank institutions enough time to bring their premises in line with the updated requirements of the regulator, the NBU informed.

We shall remind you that starting from 29 July, the NBU banned exchange bureaus (except for banks) from informing about exchange rates outside cash desks, including by drawing attention with any numerical values or symbols (boards).