Regulatory Alerts2018-09-27 | 217/04Approval of Rules for Registration, Cancellation, and Regulation of Loan Issuing Entities
The National Bank of Georgia issued Order No217/04 to approve the regulatory framework governing the registration, cancellation, and operational oversight of Loan Issuing Entities. The rules establish strict eligibility criteria, including a requirement to serve at least 20 borrowers, and mandate comprehensive documentation, security infrastructure, and physical premises standards for approval. Furthermore, the regulation outlines procedures for handling significant share acquisitions, branch operations, and grounds for registration cancellation to ensure compliance with Georgian financial legislation.
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