Zakon.kz: A period of 6 months has been postponed to increase the requirements for capital of MFIs

The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market decided to postpone for 6 months, from July 1, 2020 to January 1, 2021, the deadlines for increasing the capital requirements of microfinance organizations, zakon.kz reports

Currently, organizations engaged in microfinance activities and providing deferred payments to borrowers who suffered as a result of the introduction of a state of emergency on March 16, 2020, suspended operations and are not able to replenish their registered capital in a timely manner. In this regard, the establishment of increased requirements for the authorized and equity capital of the above organizations was postponed to the beginning of next year, the agency said.

It is reported that for microfinance organizations registered as legal entities until January 1, 2020, operating in the cities of Nur-Sultan, Almaty, Shymkent or regional centers, the minimum authorized and equity capital amounts to 30,000,000 (thirty million) tenge, other regions - 10,000,000 (ten million) tenge.

For microfinance organizations registered as legal entities after January 1, 2020, operating in the cities of Nur-Sultan, Almaty, Shymkent or regional centers, the minimum authorized and own capital amounts to - 100,000,000 (one hundred million) tenge, in other regions - 50,000,000 (fifty million) tenge.

For credit partnerships registered as legal entities before January 1, 2020, operating in the cities of Nur-Sultan, Almaty, Shymkent or regional centers, the minimum authorized and equity capital amounts to - 10,000,000 (ten million) tenge, in other regions - 5,000,000 (five million) tenge.

For credit partnerships registered as legal entities after January 1, 2020 (regardless of the place of business), the minimum authorized and own capital amounts to 50,000,000 (fifty million) tenge.

The full text of the resolution of the board and the appendix to the resolution are available on the official website of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market www.finreg.kz in the section "Agency Legal Entities".


 

 

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