A special meeting of the Board of Directors of the Association “Ukrainian Union of Lessors”

On May 29, a special meeting of the Board of Directors was held to discuss the Association’s five-year development strategy, the issue of attracting banks to membership, and the admission of new members to the UUL Association.

The Association cooperates with USAID’s Financial Sector Transformation Project as part of a four-year program to develop and support SME financing through financial leasing tools. Multifaceted activities in this area are also aimed at generating a long-term strategy for the professional union of lessors, drawing on the best European experience. For this purpose, the USAID Financial Sector Transformation Project has invented one of Germany’s leading financial consulting experts, Thomas Reinke. After many months of preparation, the expert, together with representatives of the Project, presented to the Board of Directors for discussion the UUL Strategic Plan and Approach. As a result of the research and comparative analysis of other industry associations it has bekoma the “road map” of development of UUL for 5 years. Association Director Maryna Masich and Chairman of the Board of Directors Oleksandr Koshcheev thanked Mr. Thomas Renke for the fundamental approach and very interesting proposals for the development of the Association. All members of the strategic authority actively participated in the discussion of the proposed approaches, during which many fresh ideas were put forward and an additional working meeting of the Chairman was agreed on the implementation of the submitted proposals.

An additional issue on the agenda was the concept of attracting lessor banks to membership in the Association and further lobbying their interests, based on the Association’s task of ensuring fair and equitable playing rules for all members of the union. It was decided to invite all financial leasing banks to the Association to join forces to improve leasing conditions through the synergy of new players.

At the end of the meeting, the Board of Directors considered the application of the Fast-Finance leasing company to join the Association and heard the director of the company Dmitry Bogodukhov. He described his extensive experience in the leasing market and his active involvement in developing this market, the history of his group of companies, their purpose and expectations of working together in a professional association. The Board of Directors with one accord voted in favor of joining Fast-Finance to UUL.

Association “Ukrainian Union of Lessors” – established in 2005 as a voluntary association of professional participants in the leasing market. The main purpose of the Association is “to promote the development of an open and equitable market for operational and financial leasing in Ukraine by coordinating the activities of united enterprises to protect common interests.” At the same time, it was announced that the union would not serve to reach any agreement among its members on the distribution of the leasing market.

The members of the Association are 26 leading players, representing more than 80% of the market. Membership in the Association automatically confirms the credible image of the lessor, which operates in accordance with the Code of Ethics of the Association.