Legislation, regulating MFIs

Legislation, regulating MFIs

List of norms, which regulate the work of microfinance organizations.

The Ministry of Finance constantly monitors the activities of MFIs. In turn, the MFI must comply with certain rules:

  • Federal Law № 151-FZ "On microfinance and microfinance organizations" (link).
  • Order of the Ministry of Finance of the Russian Federation № 37 from 01.03.2012 of the year, says, that there are certain forms and deadlines for, to provide documents, which is a report on microfinance activities, and Staff, which is part of the bodies of a microfinance organization (link).
  • Order of the Ministry of Finance of the Russian Federation № 26 H from 03.03.2011 of the year, states that, that the Ministry of Finance introduces the procedure for maintaining the register of microfinance organizations (link).
  • RF Ministry of Finance Order number 43 H from 19.04.2011 of the year, reports that, that approved the numerical values, as well as the procedure for calculating the economic standards of sufficiency of funds and liquidation of companies, engaged in microfinance. They attract finance officials, both physical, and corporate data in the organization under the guise of loans. (link). To use this order stands in attracting deposits from individuals.

For many, it will be interesting acquainted with the business plan of a microfinance organization.

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