As of October 1, microfinance organizations (MFOs) will no longer be…

As of October 1, microfinance organizations (MFOs) will no longer be able to issue new loans with a full cost of consumer credit exceeding 200% per annum to a client who already has two outstanding loans or credits with such high interest rates.

Coverage (2 sources)

• In Russia, limits on micro-loan issuance are being introduced — Фонтанка
• MFOS will no longer be able to issue a person more than two expensive loans — Ведомости

Key entities

• Microfinance Organization
• Bank of Russia
• CB
• Russia