Regulatory Alerts2014-03-27
Added · Updated
Procedures For Licensing Microfinance Banks
The process of obtaining a microfinance bank license involves four stages: name approval, license application, letter of intent, and license issuance. Requirements include submitting proposed names, a business concept, and evidence of capital; providing a comprehensive business plan and feasibility study; and fulfilling regulatory and operational prerequisites. The Central Bank assesses applications and issues a Letter of Intent, followed by a license if all conditions are met.
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