Regulatory Alerts2025-10-06
Added
Ordinance No 49 of the BNB of 6 October 2025 on the Terms and Procedure for Granting Licenses to Credit Servicers, Requirements for Their Activity, and Information Provision by Credit Purchasers and Credit Institutions
Ordinance No 49 establishes the detailed procedures and documentation requirements for obtaining licenses from the Bulgarian National Bank (BNB) for credit servicers and credit purchasers intending to service consumer loans. It mandates specific submissions regarding applicant structure, beneficial ownership, and fit-and-proper assessments for management bodies, while enforcing strict rules on document authenticity and language. The regulation also codifies the methodology for initial and periodic collective suitability evaluations of governing organs in compliance with EU Directive 2021/2167.
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