The All-Ukrainian information campaign to protect the rights of consumers of financial services


IBOX BANK – партнер кампанії із захисту прав споживачів кредитних послуг, яку проводить НБУ

The All-Ukrainian information campaign to protect the rights of consumers of financial services "Know your rights: loans”, which is conducted by the National Bank of Ukraine, was launched. IBOX BANK acts as an information partner of the campaign.


It will be a continuation of the first such campaign, which the National Bank conducted in 2021, and will continue in July-October 2022 in all regions of Ukraine.
The key task and the goal of the campaign is to protect borrowers' rights and to improve consumers’ knowledge about credit services.

An important direction of the campaign will be to explain to the population the following issues: what to pay attention to applying for a loan, what are credit holidays and restructuring, and their terms and procedure of registration. Also, the National Bank, together with its partners, will explain how to check credit history and what to do in the case of a breach of the requirements of ethical behavior by a creditor or collector when interacting with a consumer.

Improving knowledge and skills in the field of credit services will help Ukrainians to better understand their rights as borrowers and make informed financial decisions.

“We are sure that informed consumers of credit services are more protected from financial risks. They have a better understanding of financial services, make informed financial decisions and can manage money more judiciously. As a result, their material situation will improve, and this will contribute to the growth of the well-being of our country. That is why it is important for the National Bank to make consumers to be aware in the conditions of the credit services providing,” commented the Deputy Chairman of the National Bank of Ukraine, Yaroslav Matuzka.

He added that lending during the war has its own pecularities. On the one hand, banks’ appetite for risk decreased, and on the other hand, credit demand of the population decreased. In order to restore retail lending, which contributes to increased consumption and, accordingly, to the development of the economy, it is necessary for consumers of credit services to be clearly aware of their rights and obligations to a financial institution and to be able to service loans even in the unforeseen situations.

“Consumers’ appeals to the regulator regarding legal relations under credit agreements, as well as regarding the unethical behavior of individuals during the collection of overdue debts, constitute the bigger number of complaints against banks and non-bank financial institutions. Consumer lending, in its essence, carries increased risks precisely for the consumer, who often does not realize the full value of the loan and its responsibility under the contract. That is why we pay special attention to this direction. Adoption and improvement of existing regulatory acts aimed at protecting consumers’ rights, as well as close supervision of the activities of credit market participants, make it possible to prevent violations and normalize processes, but there is still a lot of work ahead,” said Olga Lobaichuk, the Head of the Office for the Protection of the Rights of Consumers of Financial Services of the NBU.

According to her words, consumers should always make responsible decisions regarding the conclusion of a credit agreement, and creditors should transparently and qualitatively convey information about the full cost and terms of the service.

As part of the campaign, the National Banklaunches a special web page (landing)“Know your rights: loans” with detailed information about the credit services.

The campaign is supported by international partners – the International Finance Corporation (IFC) in partnership with the Swiss State Secretariat for Economic Affairs (SECO) and the Fund for Effective Governance of the Government of Great Britain in Ukraine, as well as the European Union technical assistance project “Strengthening of the regulation and supervision of non-bank financial market" (EU-FINREG).

We will remind you that in May 2022, with the aim to support defenders of Ukraine, the National Bank sent a letter to the Committee on Finance, Tax and Customs Policy of the Verkhovna Rada of Ukraine with a proposal to amend the Law of Ukraine “On Consumer Lending”. The National Bank proposed to prohibit creditors and collection companies to take measures to recover overdue debts in respect of defenders of Ukraine. Currently, the relevant draft law No. 7414 “On amendments to the Law of Ukraine “On consumer lending” regarding the regulation of overdue debts for the period of martial law, state of emergency” was adopted by the Verkhovna Rada of Ukraine in the first reading on July 8, 2022.

For reference

General partners:

The Ministry of Defense of Ukraine, the Ministry of Justice of Ukraine, the System of Free Legal Aid, the Deposit Guarantee Fund of Individuals, the Independent Association of Banks of Ukraine.

Information partners:

PrivatBank, Oschadbank, Ukreximbank, Raiffeisen Bank, Ukrgazbank, Alfa-Bank, PUMB, Ukrsibbank, OTP Bank, Credit Agricole Bank, Universal Bank, Taskombank, Bank Credit Dnipro, Acordbank, Bank Alliance, MTB Bank, Idea Bank, Pravex Bank, Commercial Industrial Bank, Bank Sich, Bank Lviv, Bank Globus, Industrialbank, Concord Bank, Bank Clearinghouse, Investment and Savings Bank, Radabank, Ibox Bank, Crystal Bank, Bank Forward, Bank Grant, UkrBudInvestBank, Motor - Bank, Agroprosperis Bank, First Investment Bank, Asvio Bank, Ukrainian Capital Bank, MetaBank, Cominvestbank, Policombank, European Industrial Bank, Trust-Capital Bank, BTA Bank, All-Ukrainian Association of Financial Companies, Ukrainian Bureau of Credit History.