Economy

Mobile operators can now issue microloans

On December 15, Alexander Lukashenka signed a decree aimed at improving the regulation of microfinance activities. The changes affected a number of regulatory documents, according to the politician's press service. 

Illustrative image. Photo: "Nasha Niva"

According to the decree, microfinance activity will now include the issuance of monetary funds under one or more microloan agreements.

In addition, mobile operators have gained the right to engage in such activities. They will be able to issue consumer microloans in non-cash form, without collateral, for an amount not exceeding 200 basic units per borrower at the time of concluding the agreement.

Commercial microfinance organizations that meet the requirements of the National Bank are allowed to provide consumer microloans through online services. Such loans will also be issued non-cash and unsecured, with the same sum limit — up to 200 basic units per client.

An additional requirement has also been introduced for minors: individuals aged 14 to 18 will be able to conclude consumer microcredit agreements with commercial and specialized organizations only with the written consent of one of their legal representatives.

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