Regulatory Alerts2018-06-14 | 19/10Added · Updated
On Introducing Amendments to the Regulation on the Procedure for Licensing Microcredit Organizations
This resolution introduces amendments to the Regulation on the Procedure for Licensing Microcredit Organizations, redefining the 'Committee' as the Banking Supervision Committee of the Central Bank and replacing references to the 'commission'. It updates requirements for microcredit organizations to establish branches, including financial status, technical equipment, and staffing conditions, and modifies the threshold for overdue loans to less than 5% of the credit portfolio over the last six months. A commentary note indicates this resolution lost force on September 28, 2022, pursuant to a later Central Bank resolution.