{"id":7559,"date":"2017-03-02T13:10:02","date_gmt":"2017-03-02T13:10:02","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=7559"},"modified":"2018-08-14T06:46:29","modified_gmt":"2018-08-14T06:46:29","slug":"in-georgia-tens-of-mfis-and-online-loan-organizations-might-be-closed","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/in-georgia-tens-of-mfis-and-online-loan-organizations-might-be-closed\/","title":{"rendered":"In Georgia, tens of MFIs and online loan organizations might be closed"},"content":{"rendered":"<p>In the near future, tens of microfinance institutions and online organizations might be closed due to the new regulation that limits their activities. The regulation aims at restricting online loan services. There were 41 online loans and approximately 71 microfinance organizations registered in Georgia\u2019s Creditinfo database. In the near future those credit organizations which are not currently active in the market will not be able to compete under the new regulations and will be left with no other option than to close.<\/p>\n<p>The new regulation including interest rate decreases, make it nearly impossible for the organizations to cover the costs incurred for doing business. Some organizations are working to reduce costs by reducing staff and liquidating some of their locations. It is expected that larger, strong companies will survive the new business climate while smaller ones will shut their doors.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-7559 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='NBKR holds mobile balance payments violate law'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/nbkr-holds-mobile-balance-payments-violate-law\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/09\/NBKR-holds-mobile-balance-payments-violate-law-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-6766\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/09\/NBKR-holds-mobile-balance-payments-violate-law-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/09\/NBKR-holds-mobile-balance-payments-violate-law-100x100.jpg 100w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-6766'>\n\t\t\t\tNBKR holds mobile balance payments violate law\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Pasha Bank recognized as leading bank in non-cash payments'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/pasha-bank-recognized-as-leading-bank-in-non-cash-payments\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/business-leader-leading-the-way-to-his-colleagues_3446-683-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9592\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/business-leader-leading-the-way-to-his-colleagues_3446-683-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/business-leader-leading-the-way-to-his-colleagues_3446-683-300x300.jpg 300w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/business-leader-leading-the-way-to-his-colleagues_3446-683.jpg 626w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9592'>\n\t\t\t\tPasha Bank recognized as leading bank in non-cash payments\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Video: Top FinTech trends for 2020'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-top-fintech-trends-for-2020\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/12\/Top-Fintech-Trends-For-2020-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14125\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14125'>\n\t\t\t\tVideo: Top FinTech trends for 2020\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In the near future, tens of microfinance institutions and online organizations might be closed due to the new regulation that limits their activities. The regulation aims at restricting online loan services. There were 41 online loans and approximately 71 microfinance organizations registered in Georgia\u2019s Creditinfo database. In the near future those credit organizations which are &hellip;<\/p>\n","protected":false},"author":7,"featured_media":7890,"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\/7559"}],"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=7559"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/7559\/revisions"}],"predecessor-version":[{"id":7560,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/7559\/revisions\/7560"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/7890"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=7559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=7559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=7559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}