Regulatory Alerts2017-06-20
Added · Updated
Financial Regulatory Authority Board Decision No. 86 of 2017
The Financial Regulatory Authority issued Board Decision No. 86 of 2017 to amend Article 43 of its microfinance regulations. The amendment mandates that credit portfolio transfers to a microfinance company must exclusively involve balances from licensed microfinance entities, banks, or securitization firms, and requires prior regulatory approval. Applicants must submit detailed portfolio data, collection responsibility terms, customer notification procedures, and internal board approval documentation, with the Authority retaining the right to request supplementary information.
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