In response to the request of the International Monetary Fund (IMF), Ukraine plans to create a register of bank card owners, which may complicate the process of changing banks for some citizens. This requirement is included in the updated Memorandum signed between the IMF and the Ukrainian authorities.
The IMF, as a creditor, sets specific conditions for Ukraine to ensure the effective use of borrowed funds and the country's financial stability. He is interested in the timely return of loans, which assumes the proper solvency of the borrowers. This stimulates the IMF to introduce requirements that contribute to the improvement of the financial climate and the optimization of public finances.
Experts believe that introducing a register of card holders will help minimize the use of cards for tax evasion. Such cards are often used for shady transactions involving bulk tax-free payments.
The move will promote a more transparent financial environment, but could make life difficult for cardholders looking to switch banks. Now each card holder will have to carefully consider their actions before transferring the card to another person. However, for the majority of Ukrainians, this register will not affect the normal use of bank cards.
