The article discusses the problems and prospects of the non-bank financial market in Ukraine. The researchers analyzed trends and issues in the market, proposed improvements to regulations, and identified obstacles to its sustainable development. They found that the legal framework in Ukraine hinders the growth of credit unions and insurance companies, impacting the overall economy. By studying EU directives, the researchers suggested ways to enhance the market for small and medium-sized businesses, often overlooked by banks. The research emphasizes the need for aligning Ukrainian financial regulations with global standards to support the market's progress.