Ministry of Statistics and NBU signed a memorandum of cooperation

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The document is signed in an online format using EDS

The Ministry of Statistics and National Bank signed a memorandum: what the departments will do. Photo: bank.gov.ua

The National Bank of Ukraine and the Ministry of Digital Transformation have concluded a memorandum of cooperation. According to the NBU press service, the document was signed in an online format, with an electronic signature (EDS), together with National Bank President Yakov Smolie and Deputy Prime Minister Mikhail Fedorov.

According to a press release, one of the areas of cooperation between the two departments is the development of digital skills of citizens, which, during quarantine, “have acquired even greater importance than before.”

In the framework of cooperation, the Ministry of Digital and NBU are planning:

  1. Started a training course for Ukrainians on the portal “Dia. Digital Ovita” payment using payment cards, smartphones and smart watches, online payments in Ukraine and abroad, credit limits and security of payments on the Internet
  2. Improve the system of verification and identification of citizens and businesses, as well as simplify the mechanisms available for it. In particular, it will affect electronic residences, which will allow foreigners to officially conduct business in Ukraine remotely
  3. Developing tools for remote signing of agreements in the financial sector
  4. Transfer of settlements in non-cash form to all sectors of the economy

As noted by the NBU, reducing the role of cash in the economy and increasing the share of non-cash transactions is one of the important functions of the National Bank, which is mentioned in the strategy for the development of the financial sector by 2025 .

Therefore, according to the regulator, over the last five years, the level of cash in the economy has gradually declined from 17.8% of GDP in 2014 to 9.2% in 2019. The share of cashless payments in the total volume of transactions using payment cards, by contrast, increased from 25% in 2014 to 50.3% at the end of 2019. According to the key indicators of the financial sector development strategy, this indicator is expected to increase to 65% by early 2025.

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Earlier we wrote that the Ministry of Digital Development has created a promised mobile application to control self-isolation. The novelty is called “The Vedoma”, in the application they monitor whether civilian affirmations or insist on self-segregation with suspected coronavirus Kovid-19.

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