The National Bank of Ukraine (NBU) promises to investigate Kolomoisky's PrivatBank.
Ukraine's largest bank, PrivatBank, owned by Dnipropetrovsk Oblast Governor Ihor Kolomoisky, is unlawfully restricting non-cash payments, citing a NBU regulation on cash payments. Thus, the billionaire's companies can increase their income on their clients' money in just two weekends, spinning a "cash com" through overnight deposits, lending, and interest. This is a flagrant violation of the rights of the bank's depositors and clients. It clearly constitutes an infringement on someone else's property.
Economist and director of the International Institute for Society Transformation Oleg Soskin stated this in a commentary to Novy Region.
"PrivatBank is violating private property rights by restricting non-cash payments, citing NBU Resolution No. 540 on cash payments, specifically the limitation on cash payments of no more than 15 hryvnias per day per person. Thus, Kolomoisky's bank is exceeding its authority by citing an NBU resolution that has nothing to do with non-cash transactions. These actions by the bank are completely unlawful. This is racketeering by PrivatBank in its purest form," he stated.
"He should resign as governor, as this is a clear conflict of interests between his private entities and the state. This is a clear violation of the rights of his bank's depositors. There are no restrictions on non-cash transactions, where money is transferred from a foreign currency account to the hryvnia via wire transfer and then sent to other accounts via the same wire transfer," Soskin noted. "Why does PrivatBank refuse even such transactions? Citing all sorts of reasons: an NBU regulation, non-banking days, even though Privat24 is advertised as a 24-hour service?"
The economist believes that "Kolomoisky's structures are putting this money into circulation without the knowledge of the bank's depositors and clients."
"For example, over two weekends, these funds are circulated by the bank itself, earning enormous interest. Overall, this is a huge amount of money, which, like a lump, grows even larger through overnight payments, loans, and transfers, including international transfers. But this is a flagrant infringement on a person's fundamental right—their property—which Kolomoisky does without people's knowledge, making money," Soskin concluded.
The National Bank of Ukraine has accepted an information request from the Novy Region news agency seeking clarification on PrivatBank's actions. The NBU press service assured that it will "review the request as quickly as possible."
Subscribe to our channels on Telegram, Facebook , Twitter , VK - Only new faces from the SKLEP section!