Regulatory Alerts2015-01-01
Board of Trustees Decision No. (1) of 2015
The Board of Trustees of the Microfinance Activity Supervision Unit for Associations and Civil Society Institutions mandates that all civil society organizations holding temporary microfinance licenses must submit applications for final licensing by July 31, 2015. The Supervision Unit is authorized to review applications, secure necessary clearances, and issue final licenses no later than September 30, 2015. Following this deadline, all such organizations are strictly prohibited from conducting microfinance activities unless they possess a valid final license in compliance with the stipulated regulatory requirements.
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