{"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='3 key areas for a future with open banking'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/3-key-areas-for-a-future-with-open-banking\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/06\/3-key-areas-for-a-future-with-open-banking-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13041\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13041'>\n\t\t\t\t3 key areas for a future with open banking\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Georgia\u2019s securities system to be revamped'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/georgias-securities-system-to-be-revamped\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/01\/Modernization_WhitepaperBig-150x150.gif\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-6913\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-6913'>\n\t\t\t\tGeorgia\u2019s securities system to be revamped\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Experts predict Kazakhstan\u2019s 2019 FinTech trends'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/experts-predict-kazakhstan-s-2019-fintech-trends\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/01\/experts-predict-kazakhstan-s-2019-fintech-trends-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12081\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12081'>\n\t\t\t\tExperts predict Kazakhstan\u2019s 2019 FinTech trends\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}]}}