Governor of Ukraine's National Bank announces broader dialogue with banks on combating drop schemes
Governor of the National Bank of Ukraine (NBU) Andriy Pyshnyy met with the heads of the country's largest banks to discuss the regulator's key priorities, highlighting efforts to counter shadow financial practices – particularly the use of so-called "drops" – and announcing a broader dialogue with the sector to address the problem.
"I want a wide-ranging dialogue with banks to counter drops, in order to increase our effectiveness in fighting this illegal phenomenon," Pyshnyy wrote on Facebook following the meeting.
According to him, the first and main topic of discussion was the continuation of cooperation with the International Monetary Fund (IMF), which he said is critical for consolidating the financing Ukraine needs in 2026–2027.
"This does not mean that we have been ineffective under the current EFF program, as we have successfully passed eight reviews. However, the continuation of the war and persistent extreme uncertainty require a new look at the program's design. Its goal remains unchanged – to ensure macro-financial stability for resilience and recovery," Pyshnyy explained, stressing the need for a new program.
The NBU governor noted that cooperation with the IMF will include several key areas, among them reducing the shadow economy and developing capital market infrastructure.
Pyshnyy also underscored the importance of aligning the new IMF program with Ukraine's EU integration track, pointing out that the country has already completed an internal screening of its legislation for compliance with EU standards.
As reported, on April 1, 2025, the NBU decided not to extend temporary regulatory restrictions that had been in place since October 1, 2024, on outgoing transfers between accounts of individuals from one bank to accounts in other banks. Instead, banks themselves, which had signed the Memorandum on Transparency of the Payment Services Market, were tasked with regulating transfer limits.
The cap was set at UAH 150,000 per month and applied to all types of transfers – P2P and C2C – but was lowered to UAH 100,000 as of June 1.
At the same time, Ukrainian banks may ease limits on P2P transfers set out in the Memorandum on Transparency of the Payment Services Market if a register of drops and automated verification of client incomes is introduced. However, NBU's Director of the Statistics Department Yuriy Polovnev told Interfax-Ukraine that launching such a register in 2025 is unlikely due to technical complexity and legal risks.