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Banks across the country have had deposit guarantees since 1998. By extending this to credit unions, Ukraine can provide economic stability while also improving its chances of joining the European Union.
LVIV, Ukraine—Representatives of Deposit Guarantee Fund (DGF) of Ukraine Wednesday presented the initial concept of a deposit guarantee system for credit union members at a round table for the sector organized by the USAID/World Council of Credit Unions’ Credit for Agriculture Producers (CAP) Project.
The total amount of deposits of individuals in banks-participants of the Deposit Guarantee Fund of Ukraine amounted to UAH 675.6 billion in 2021, Ukrinform reports, referring to the Fund’s press service. Ukrinform.
(MENAFN - UkrinForm) The Deposit Guarantee Fund of Ukraine will continue to pay guaranteed refunds to depositors of JSC Bank Veles from February 23, the fund s press service reports.
From February 23, 2021, the Deposit Guarantee Fund continues to pay guaranteed refunds to depositors of JSC Bank Veles under bank deposit agreements and bank accounts (including card accounts) within UAH 200,000. Reimbursement of funds to depositors is carried out through the branches of banks that are agents of the Deposit Guarantee Fund and are connected to the automated system of payments.
As reported by Ukrinform, on December 10, 2015, the National Bank of Ukraine (NBU) decided to revoke a banking license and liquidate JSC Bank Veles due to risky activities and the persistent breaches of financial monitoring laws.