The Know Your Rights nationwide information campaign on protection of consumer rights in the field of financial services has been launched by the National Bank of Ukraine in partnership with the Verkhovna Rada Human-rights Ombudsman and banks. The aim of the campaign is to raise public awareness of the rights and responsibilities while using financial services.

As part of the information campaign, the National Bank together with partners will tell Ukrainians what rights and responsibilities they have as consumers of financial services and where to address in case of violation.

"There are many reasons why Ukrainians are sparingly using financial services or not using them at all. These are past crises, negative consumer experiences, and insufficient awareness of the benefits of using financial products. Today, the National Bank has a double goal. The first is to establish additional requirements for financial institutions that will ensure their transparency regarding the cost of services and good conduct towards consumers. The second is to promote better financial awareness of Ukrainians. These are mandatory components for increasing the protection of consumers of financial services, as well as for greater involvement of citizens in the financial system and more active use of services," commented Oleksiy Shaban, Deputy Head of the National Bank.

FUIB supported the campaign of the National Bank of Ukraine and the Verkhovna Rada Human-rights Ombudsman to protect the rights of financial services consumers.

"When a client comes to the bank, we look forward to long-term cooperation. The bank and the client are one team and bear responsibility to each other. Transparent and clear relations are important for the cooperation between the bank and the clients to be mutually beneficial and long-lasting. We are constantly working to simplify procedures, to improve products and services, to improve communication with customers. We want the bank to be accessible to everyone. We want it to become a reliable assistant in solving various financial problems," said Serhiy Chernenko, FUIB's Chairman of the Board.

The campaign will take place in March-May 2021 in all regions of Ukraine. As part of the campaign, the National Bank is launching a special Know Your Rights landing.