The FINANCIAL — The National Bank of Ukraine insists on lawfulness of foreign currency credit agreements commercial banks concluded earlier, reads a statement made by the NBU.
"If a bank has a licence issued by the National Bank of Ukraine and a written permission to perform exchange transactions… provision of foreign currency credits on the territory of Ukraine is lawful," reads the statement.
The National Bank of Ukraine notes, there is no necessity for a bank to obtain an individual licence for performing one-time exchange transaction during the provision of a credit in foreign currency.
The National Bank expresses concern over a ruling dated February 24, 2010, produced by the Nikopol city district court of Dnipropetrovsk region to void an agreement on provision of a consumer credit in foreign currency within a case on a lawsuit from a borrower against UkrSibbank.
The National Bank takes this court award as a dangerous precedent posing a threat to the stability of the banking system.
According to the National Bank of Ukraine, the Dnipropetrovsk regional court of appeals on August 4 sent this case for a fresh appeal consideration.
The court sitting took place on August 18.
The NBU in its letter No.18-311/4539-15626 of September 10 says the Dnipropetrovsk regional court of appeals on August 18 allowed for UkrSibbank's complaint and reverse the above mentioned order by the Nikopol city district court dated February 24, 2010, and also disallowed for the claim lodged by the individual.
The National Bank recommends banks to take notice of this information and use it in their work in future.
As Ukrainian News earlier reported, the National Bank of Ukraine has expressed its concern over court rulings finding void agreements on provision of credits in foreign currency.