KIEV, Sept. 21 – The decision of the National Bank of Ukraine to introduce passport checks on individuals making foreign currency exchanges at banks and financial institutions could lead to the growth of the shadow market, analysts said.

"The exchange of currency with passports will make banking transactions take longer. In this case, the banks will service clients less efficiently. In addition, additional expenses of banks on forms will appear, which would increase expenses on operations. The psychological factor will be most important. Maybe it would be more beneficial and efficient for individuals to exchange currency on the shadow market. In any case, the factor of the shadow market will become larger," said the head of the financial market analysis department at ING Bank, Oleksandr Pecheritsyn.