KIEV, Aug. 8 – The Ukraine Credit-Banking Union (UCBU) has called for the cancellation of a requirement on the obligatory copying of passports of citizens introduced by the National Bank of Ukraine during foreign currency exchange transactions.

"The requirements on copying passports during the foreign currency exchange transactions, irrespective of the sum of the transaction, introduced in 2011, should be revised due to extra difficulties and expenses during their practical application, as well as slight regulatory efficiency and revealed cases of fraud with copies of passports," the group said.

The UCBU believes that it is better to permit banks to at least buy foreign currency from the public without copying their passports.