The Human Rights and Civil Integration Committee discussed the Draft on Activity of Micro Banks
The Committee discussed the Draft on the Activity of Micro Banks and the accompanying legal package. According to the Vice-President of the National Bank, Papuna Lezhava, the Draft creates a new financial institution of average size, stable business model and high reputation, oriented to the facilitation of the crediting of the entrepreneurial and agricultural activity.
“It will increase the free competition on the market and reduce the interest rates on the credit products; as well as increase the accessibility to the fiscal products and financial engagement, especially in the regions”, - he noted and elucidated that the business model of the micro bank will increase the interest of international investors.
Besides, the micro banks will carry the social mission, related to the creation of new job opportunities for the development of the small business. The Committee approved the Draft.