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Ukraine national bank ceases transactions in militia-controlled areas

The National Bank of Ukraine has ruled to cease financial transactions in localities controlled by the militia in the Donetsk and Luhansk People's Republics, Ukrinform agency reported on Friday with a reference to the regulator.

The decision was due to "the need to prevent threat to life and health of customers and employees of banks and financial organizations" in the mentioned regions. The regulator recommended that until operations in the regions were fully resumed the banks serve customers through mobile banking.

The bank also obliged Ukrpost and other non-banking organizations to suspend financial transactions in the regions such as money transfers.

The Ukrainian regulator of money turnover is to notify banks on a daily basis of areas and cities not controlled by the government, the agency said.

[Source: Ria Novosti, Kiev, 08Aug14]

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