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NBG to Introduce Regulation on Online Loans without an Agreement

NBG to Introduce Regulation on Online Loans without an Agreement

We should regulate market of online loans so that not to “kill it” and to envisage interests of such type borrowers, – President of NBG declares.

Despite the banking sector’s resistance, the Regulatory does not exclude to work out regulation norms for online loans without agreement with the sector.

Koba Gvenetadze declares, that it is not necessary to agree all points to the market participants.

According to him, NBG studies practice of different countries, which rules, fitted to Georgian reality, should be transformed in the country.

As known, due to the increase of problematic loans and engagement of young people regulations are considered to be established upon companies of online loans.