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Tag Archives: Microfinance

Microfinance Sector to Halve Loan Rates

Under new regulations, microfinance organizations will have to cheapen loans and create obligatory reserves on portfolio. Starting September 1, top margin for efficient rate growth will be 50%. Moreover, starting September 1 (2018), microfinance loans will be divided in categories and reserves will be determined due to corresponding rates: a) …

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A Competitor Appeared to the Banks in Forwards

A Competitor Appeared to the Banks in Forwards

A competitor has appeared to banks in forwards, which will insure monetary risks cheaper to the companies. JSC ForMeti works on a new platform of forwards. According to the company, forward transactions will be made electronically. Private individuals, as well as legal entities will have ability to apply application. Nika …

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Crystal MFO and BPN Georgia Sign Understanding Memorandum

Crystal MFO and BPN Georgia Sign Understanding Memorandum

Crystal microfinance organization and BPN Georgia has signed mutual understanding memorandum for a period of 3 years. The memorandum calls for strengthening the potential of micro and small enterprises (MSE) and upgrading knowledge of entrepreneurs in business administration field. The mentioned goal will be achieved through a joint product, besides …

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National Bank Bought 19.75 Million USD in April

National Bank Bought 19.75 Million USD in April

Net currency sales of National Bank of Georgia (NBG) made up 30.5 million USD. As a result, foreign assets have declined by 10.75 million USD. NBG has purchased 19.75 million USD through currency auctions. Government deposits shrank by 132.5 million GEL to 1.178 million GEL. In the reporting period placement …

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Types of Loans and New Webspace for Comparison

100 lari

Nowadays the terms of finances and  loan  have become inseparable concepts. Finance sector offers a great number of crediting opportunities, including banks, microfinance organizations and companies, which offer fast loan services. To realize the essence of a credit, its positive and negative aspects, we should first know their types. Fast …

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Levan Surguladze Awaits Revision of Depositors’ Money from the National Bank

Levan Surguladze Awaits Revision of Depositors’ Money from the National Bank

The member of Financial Supervisory Council of 2008-2009 estimates the 2nd wave of separation of non-core assets and regulatory risks of banking holding companies. Levan Surguladze believes that monetary policy and financial supervisor must be separated; as it does not regulate number of sectors, neither banking nor microfinance and there …

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Whether Regulation of Online Loans May Bring Positive Results

Campaign against online loans has gained momentum. Namely, issuance of online loans will be banned or curbed by regulations. Prime Minister Giorgi Kvirikashvili announced this decision at a government meeting several days ago. Later, vice Prime Minister and Minister of Finance Dimitri Kumsishvili noted that this sector would be subdued …

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Online Loan Companies Seeking Status of Microfinance Organizations

microfinance

Major online loan companies have spread a special statement regarding the November 29 decision passed by Government of Georgia and Prime Minister about regulation of online loan market. We respect government’s decision on the sector regulations; We ask government to mediate before National Bank of Georgia for accelerating process of …

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Microfinance Sector’s Assets Grew by 31.3% in 2015

In 2015 microfinance organizations increased their assets by 31.3% to 1.611 billion GEL (36% in 2014 and 18% in 2013). The loans portfolio marked 1.2 billion GEL (852 million GEL in 2014. The annual growth marked 41% year on year. Loss reserves in relation to the portfolio do not exceed …

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