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Georgia To Discuss New Regulations on Microfinance Institutions

The discussion concerning about the regulations of Microfinance Institutions will be held in March.

The Deputy Chairman of the Finance and Budget Committee, Nodar Ebanoidze provided this information to businesspressnews.

According to him, the core themes about the microfinancials’ and online credits’ regulations and reporting forms will be discussed.

“Today, Microfinance Institutions, basically are free from regulations. It is obvious that they are under control of National Bank of Georgia (NBG), however, besides the registration, there are no other regulations arisen after that.” – notes Ebanoidze.

The Deputy Chairman of the Budget and Finance Committee stated in his speech that the discussion process will be held in near future.