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Photo/ National Bank of Georgia

Microfinance Companies Banned To Lend 100 000 GEL Note of Hand to Legal Entities

Microfinance organizations are banned to lend approximately 100 000 GEL note of hand to legal entities. This restriction does not concern to the organizations that lend less than 20 notes of hand.

At this stage Parliament debates corresponding draft law, which was initiated by the Georgian Government.

Approving the bill is stipulated by the inevitability of implementing change in organic legislation about Georgia’s National Bank, which envisages tightening of supervisory policy and creating additional mechanism for consumer protection.