Ruslan Magomedov: Securitization can be effective for the recovery of Ukraine’s economy

The NSSMC (National Securities and the Stock Market Commission) is moving towards the implementation of international norms regarding the implementation of the most effective financial instruments and mechanisms capable of ensuring the attraction of foreign investments to Ukraine for the recovery of the economy.
Therefore, a webinar presentation of the Concept project on the introduction of the legal framework for covered bonds and securitization in Ukraine was recently held with the participation of the NSSMC. During the event, the participants familiarized themselves with the prepared concept in detail, considered the issue of securitization of agricultural receipts, heard the opinions of international experts, etc.
«Securitization is a mechanism that consists in the placement of securities of various classes, the payments of which are secured by future revenues generated by an allocated pool of assets. The most promising are securities with a pool of mortgage loans as a reference. In combination with the state program of affordable credit for Ukrainians with the participation of PJSC «Ukrainian Financial Housing Company», securitization is able to ensure the revival of the real estate market, which can become one of the main drivers of the recovery of the national economy,” says the Chairman of the NSSMC Ruslan Magomedov.
The presented Concept was prepared by the law firm Sayenko Kharenko and Richard Kemmish Consulting Limited as part of a project implemented by the EBRD and financed by the Special Shareholders’ Fund managed by the EBRD.