{"id":7014,"date":"2017-07-01T13:46:36","date_gmt":"2017-07-01T13:46:36","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=7014"},"modified":"2017-12-22T05:43:25","modified_gmt":"2017-12-22T05:43:25","slug":"how-do-online-lending-companies-face-the-imposed-strict-regulations","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/how-do-online-lending-companies-face-the-imposed-strict-regulations\/","title":{"rendered":"How do online lending companies face the imposed strict regulations?"},"content":{"rendered":"<p>Five months after the introduction of fairly strict government regulations, the volume of loans issued by some online lending companies has significantly decreased, along with the number of people they employ. The new regulations, which apply only to online lending companies and not to commercial banks or microfinance organizations, limit the maximum interest rate on loans as well as the fines and commissions which can be charged.<\/p>\n<p>In order to continue operations, Online Credit laid off 60% of their workforce and are considering transferring capital to other countries with not so strict regulations. They have also begun only issuing loans to more solvent customers in order to reduce risks. Banking expert David Kikvidze noted that the regulations have had a rather negative impact from an economic point of view. In addition to the massive staff cuts, online credit companies have reduced the issuance of loans and now pay less into the state budget.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-7014 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='More than 100 programmers participate in Fintechstars hackathon held in Almaty'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/more-than-100-programmers-participate-in-fintechstars-hackathon-held-in-almaty\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/network-connection-concept_1134-46-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-8592\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-8592'>\n\t\t\t\tMore than 100 programmers participate in Fintechstars hackathon held in Almaty\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor (June 2023)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-june-2023\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2023\/07\/ubLe111-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-17176\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-17176'>\n\t\t\t\tBFC FinTech Monitor (June 2023)\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='In Georgia, tens of MFIs and online loan organizations might be closed'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/in-georgia-tens-of-mfis-and-online-loan-organizations-might-be-closed\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/12\/Business-Closure-Closing-Down-Sign21-e1390367012629-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-7559\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-7559'>\n\t\t\t\tIn Georgia, tens of MFIs and online loan organizations might be closed\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Five months after the introduction of fairly strict government regulations, the volume of loans issued by some online lending companies has significantly decreased, along with the number of people they employ. The new regulations, which apply only to online lending companies and not to commercial banks or microfinance organizations, limit the maximum interest rate on &hellip;<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,14],"tags":[129,75],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/7014"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=7014"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/7014\/revisions"}],"predecessor-version":[{"id":7015,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/7014\/revisions\/7015"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=7014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=7014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=7014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}