National Bank of Ukraine to introduce mandatory loan collateral insurance in 2025

MOSCOW. July 16 (Interfax) - The National Bank of Ukraine intends to introduce mandatory loan collateral insurance in 2025, Pervin Dadashova, head of the NBU Financial Stability Department, told Ukrainian media.

She said the NBU, as an exclusively banking regulator, planned to introduce mandatory loan collateral insurance a few years ago.

However, the issue of trust in insurers arose, since at the time there were no transparent sustainability metrics for them, but borrowers could take the quality of insurers into consideration.

"We then met the banks halfway and are still putting this requirement off as regulator of the insurance market, since its transformation is still ongoing. We will finally do this in 2025 in confirmation that both the regulator and the banks trust this segment," she said.