Qualified electronic trust services provided in the European Union will be recognized in Ukraine’s banking and payments sectors
Just last week, Serhii Lytvynenko (CEO of LITIKO) held a webinar on “Electronic Signature in Ukraine”. The discussion covered the specifics of using EDS (electronic digital signatures) in organizations, practical advice, and answers to participants’ questions.
And just recently, the National Bank of Ukraine issued a Resolution regarding EDS created in the European Union.
The NBU regulated the issue of recognizing qualified electronic trust services provided in the European Union within the banking system of Ukraine and during funds transfers. From now on, Ukrainian banks, branches of foreign banks, and payment system participants must recognize:
- qualified electronic signatures and/or qualified electronic seals created in accordance with European Union legislation;
- qualified electronic signature or seal creation devices certified in accordance with European Union legislation.
This decision will help accelerate the integration of Ukraine’s banking system into the European Union’s Digital Single Market and the development of a single financial space. It will remain in effect until an agreement is concluded between Ukraine and the European Union on the mutual recognition of qualified electronic trust services. The relevant provisions are contained in Resolution of the Board of the National Bank of Ukraine dated July 07, 2022, No. 140 “On Recognition of Foreign Qualified Electronic Trust Services in the Banking System of Ukraine and During Funds Transfers”, which came into force on July 12, 2022.
Therefore, the topic of using EDS deserves the attention of every manager and entrepreneur who wants to keep pace with the times and accelerate and expand their business.
Based on materials:
Link to the resolution:
