President signs restrictions for online loans

Economic adviser Maya Mikeladze announced that the recently approved bill, aimed at restricting online loan services, has been signed by the President. The bill was put forward as a way to protect borrowers from high-risk products and to limit online lending abuses. Maya Mikeladze gave assurances that the reform had been considered and adopted in consultation with representatives of the financial sector and the National Bank of Georgia. The authorities are now actively monitoring the process of applying this new rule.

Source: bpn.ge