The Role of Non-Banking Financial Institutions During the War: Challenges, Adaptation, and Prospects

The article is devoted to analyzing the role of non-banking financial institutions during the war in Ukraine. Their significance for socio-economic stability, support of small and medium-sized businesses, financial inclusion, and insurance protection is examined. The dynamics of the non-banking financial market, their adaptation to economic challenges, and development prospects are studied. It is shown that these institutions complement the banking sector by providing access to financial services even in crisis conditions, contributing to economic resilience. Particular attention is paid to the role of microfinance organizations and insurance companies, which ensure flexibility and speed in meeting client needs. The necessity of strengthening regulatory oversight for the effective development of this market segment is highlighted.