National Bank of Belarus Adjusts Rules for Microfinance Organisations

Belarus is introducing changes to the operations of microfinance and other non-credit financial organisations. The relevant decision was adopted by a resolution of the National Bank’s Board on June 12.

“The adopted amendments and additions will help strengthen the protection of financial services consumers’ rights and increase public confidence in the financial sector,” the National Bank’s press service reports.

The resolution sets interest rate limits applicable when borrowing (attracting) funds:

• by a commercial microfinance organisation from individuals who are property owners, founders or participants of that organisation;
• by a non-profit microfinance organisation from its founders, as well as from other individuals who are members of that organisation.

The document also defines business reputation requirements for the head of a specialised organisation, as well as for property owners, founders, participants, beneficial owners and other owners of microfinance and specialised organisations.

Criteria have been established that commercial microfinance organisations must meet in order to provide consumer microloans online through non-cash transactions.

A minimum charter capital requirement has also been introduced for operators of online lending services.

These provisions will come into force on June 20, 2026.

Additional requirements concerning the content of microloan issuance rules approved by microfinance organisations, as well as reporting submitted by microfinance organisations to the National Bank, will take effect from the date of the resolution’s official publication.