Georgia:Technical Assistance Report—Strengthening Regulation, Supervision, and Oversight of Micro Lending Institutions

Technical Assistance Report—Strengthening Regulation, Supervision, and Oversight of Micro Lending Institutions

Volume/Issue: Volume 2020 Issue 273

Publication date: September 2020

ISBN: 9781513556406

$18.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , ISCR , CR , NBG staff , loan portfolio , NBG nonbank supervision department , NBG supervisor , bank status , MFI representative , supervision framework , bank loan , cost of funds , MFI sector , MFIS deposit base , Loans , Commercial banks , Capital adequacy requirements , Small and medium enterprises , Deposit insurance , Southeast Asia

Also of interest

Republic of Congo : 2001 Article IV

Spain

Malawi

Peru

Summary

In the past two years, the NBG has adopted a series of measures to strengthen nonbank sector financial regulation, supervision, and oversight.1 The MCM TA mission in 2017 provided recommendations along these lines, most of which have been implemented by the NBG. Currently, the nonbank sector consists of Micro Financial Institutions (MFIs) and Loan Issuing Entities (LIEs). In reforming the sector, the NBG has, among others: (i) amended laws and issued new and revised regulations on registration, capital, and liquidity requirements for MFIs; (ii) significantly expanded supervisory powers and authorities and increased supervisory resources for the nonbank sector; (iii) registered 200 LIEs; and (iv) put in place consumer protection and responsibility lending rules. These new measures have helped to enhance the resilience of the nonbank sector, weed out those that are non-viable, and improved the reputation of the MFI brand.