BAKU, Azerbaijan, May 11
By Nargiz Sadikhova - Trend:
Kazakhstan’s Agency for Regulation and Development of the Financial Market postponed the deadlines for increasing capital requirements microfinance organizations for six months, Trend reports with reference to the agency.
The deadline was postponed from July 1, 2020, to Jan. 31, 2021.
The agency said that currently, microfinance organizations and those providing deferred payments to borrowers affected as a result of the introduction of the emergency state, suspended operations and do not have the ability to timely replenish the charter capital.
In this regard, the setting of increased requirements for the charter and own the capital of these organizations was moved to the beginning of the next year.
For microfinance organizations registered as legal persons before January 1, 2020, the minimal charter capital size for organizations operating in Nur-Sultan, Almaty, Shymkent cities or regional centers, the minimum size of the charter and own capital amounts to 30 million tenge ($71,100), in other regions is 10 million tenge ($23,702).
For microfinance organizations registered as legal persons after January 1, 2020 and operating in the cities of Nur-Sultan, Almaty, Shymkent or regional centers, the minimum is 100 million tenge ($237,025), in other regions it is 50 million tenge ($118,512).
For credit partnerships registered as legal entities until January 1, 2020, operating in the cities of Nur-Sultan, Almaty, Shymkent or regional centers, the minimum size of the charter and own capital is 10 million tenge ($23,072), in other regions is 5 million tenge ($11,850).
For credit partnerships registered as legal entities after January 1, 2020 (regardless of the place of business) the minimum is 50 million tenge ($118,512).