Armed with new law, Ukraine targets its shadowy banks


  • World
  • Monday, 20 Apr 2015

KIEV (Reuters) - For the first time in its post-Soviet history, Ukraine now has a law to prosecute bank owners who use their lenders as little more than personal piggy banks.

Under pressure from the IMF, which has agreed a $17.5 billion (11.74 billion pounds) bailout for Ukraine in exchange for reforms, Kiev plans to use the new banking law to start cleaning up an over-populated and corrupt financial system.

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read