The concept of financial services
Financial services are one or more financial services, as well as other services (operations) related to the provision of financial services, in specific cases. Financial institutions include: banks, credit unions, pawnshops, leasing companies, credit companies, insurance companies, Its exclusive function is to provide financial services and in specific cases the law – other services (operations) related to the provision of financial services.

Independent financial intermediaries provide financial security services in the manner and under the conditions specified in Ukraine.

Financial Services
A financial service is a transaction with financial assets carried out in favor of third parties at their own expense or at the expense of such persons, and at the expense of financial assets drawn from other persons in order to profit or maintain the true value of the financial assets.

The following services are financial:

1) Issuance of payment documents, payment cards, travelers checks and / or their services, clearing and other forms of payment guarantee;

2) trust management for financial assets;

3) currency exchange activities;

4) Attract financial assets with a commitment in respect of their subsequent return;

5) Leasing.

6) Provision of borrowed funds, including financial loan terms;

7) Provide guarantees;

8) transfer of funds;

9) insurance and pension services;

10) professional activity in the stock market, which is subject to authorization;

11) Factoring;

12) Manage financial assets to purchase goods in groups;

13) Property management to finance construction projects and / or real estate transactions “on financial credit mechanisms and property management in housing construction and real estate operations”;

14) operations with mortgage assets for the purpose of issuing mortgage securities;

15. Banking and other financial services provided “on banks and banking activities”.

Financial services are provided by financial institutions, as well as, if explicitly provided by individuals – entrepreneurs.

Financial institutions can attract money from individuals (participants in such an institution)

The National Authority, which regulates the State in the field of financial services markets, shall issue, within its competence, licenses for the implementation of financial institutions:

A) insurance activities;

2) Activities to provide funded pension services.

3) Providing financial loans from borrowed funds;

4) Activities to provide any financial services that involve direct or indirect attraction of financial assets from individuals.

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