As a component of the Ukrainian economic system, the banking system includes the National Bank of Ukraine, other resident and non-resident banks registered in Ukraine, as well as non-bank financial institutions such as credit unions, investment funds, factoring companies, and others. The National Bank of Ukraine implements its monetary and credit policy to maintain the stability of the Ukrainian currency, carries out foreign currency regulation, and establishes rules for banking operations.
The Ukrainian currency is the hryvnia (symbol —  , code — UAH). As of 6/30/2019, its exchange rate stood at  29.73 per €1. Payments within Ukraine are made both in cash and by bank transfer.
Companies operating in Ukraine open hryvnia and foreign currency accounts with banks, which in turn maintain accounts with the National Bank of Ukraine, other banks in and outside Ukraine, to make financial transactions by using the BankID from the National Bank of Ukraine and SWIFT, the International Money Transfer System. In this case, the rates for making SWIFT payments are an average of 0.5% of the amount.
International payment systems that operate in Ukraine include Visa, MasterCard, American Express, Western Union, MoneyGram, INTELEXPRESS, ХАЗР�?, RIA, Sigue Money Transfer, MEEST; innovative Apple Pay and Google Pay; the National Payment System "Ukrainian Payment Space", and electronic payment systems for making payment transactions online.
8.5 thousand bank branches, together with a network of 279.0 thousand payment terminals and nearly 20 thousand ATMs, create extremely convenient conditions for making financial transactions throughout Ukraine.
Just as the operations of the Ukrainian banking system are similar to those of the banking systems of the leading countries worldwide, so too the Ukrainian insurance system is similar to those operating in developed countries.
Today, hundreds of insurance companies operating in Ukraine can provide not only insurance in three main areas such as personal, property, and liability insurance, but also risk reinsurance.