Regulatory Alerts2014-01-01
Financial Institutions (Credit Only and Deposit Taking Micro-Finance Institutions) Regulations 2014
Issued by the Commissioner of Financial Institutions at the Central Bank of Lesotho, these regulations establish comprehensive licensing and operational frameworks for credit-only and deposit-taking micro-finance institutions. The rules mandate standardized application procedures, minimum capital and liquid asset thresholds, robust governance structures, and detailed consumer protections including data confidentiality, transparent pricing, and safeguards against reckless lending. Furthermore, the regulations empower the Commissioner with extensive supervisory and inspection authorities to enforce compliance, manage license suspensions or revocations, and ensure the prudent conduct of micro-finance services nationwide.
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