Microfinance Business Supervisory Committee
24
Jun
2019
MBSC’s directive on interest rates on micro-credits and savings
On 5 June 2019, the Microfinance Business Supervisory Committee issued Directive 1/2019 (the “Directive”) which revises the interest rates applicable to micro-credits and savings of the members.New rates of interest The Directive introduces an interest rate of 28% on micro-credit (the “New Rate”) and provides illustrations with regard to calculating the effective rate of interest […]
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