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NBU considers it inappropriate to hold the banks of the lottery

НБУ считает нецелесообразным банкам проводить лотереиThe national Bank develops the changes that the legislation will prohibit banks to conduct sweepstakes.

The national Bank of Ukraine (NBU) is developing amendments to the current legislation of Ukraine with the purpose of prohibiting banks to carry out operations for the production, distribution and holding of lotteries.

This was reported to UNN in the press service of the NBU.

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The current law on banks and banking gives the banks the right to carry out lottery activities. The national Bank believe that banks is unusual.

“The national Bank of Ukraine believes that such activity is extrinsic to the banking institutions, the main focus of activity of which is providing proper banking and other financial services”, – said the NBU.

At the moment, the Bank is developing the changes, the legislation will prohibit banks to conduct lottery (by eliminating from the list of permitted activities activities for the production, distribution and holding of lotteries).

The regulator has highlighted that a similar position is shared by experts from the world Bank (WB).

In addition, the NBU has opposed the monopoly on the market of lotteries.

“The national Bank advocates the need to ensure competition on the market of lotteries and, therefore, does not support granting the same subjects of any advantages in obtaining licenses for issue and holding of lotteries in comparison with other regions”, – concluded the NBU.

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