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Thursday, September 21, 2017

Ukrainian central bank discusses collaborative reform efforts

The National Bank of Ukraine (NBU) announced last week that bank Governor Stepan Kubiv met with Georges Massoud, the managing principal at the global management consulting firm McKinsey & Co., in Ukraine to discuss cooperation as part of an initiative to devise the Ukrainian Banking System Reform Strategy.

During the meeting, Kubiv unveiled the NBU's priorities for banking sector reforms, including devising programs designed to resume lending, enhancing the efficiency of corporate governance and the risk management framework of banks, improving transparency of banks' ownership structure, consolidation of the banking sector, and developing the central bank's involvement in regulation and supervision.

Massoud offered McKinsey's advisory services and assistance to help the NBU's Department for Banking System Strategy and Reform implement its projects.

Massoud said McKinsey consultants could participate, together with Ukrainian banks, in strategic sessions to be held over the next couple of months and provide consultancy services for implementation of the Banking System Reform Strategy, which will be tabled for discussion by the banking community ahead of its approval by the NBU board.