Lukashenko designates National Bank as regulator of online borrowing services
<p> MINSK, May 27 - PrimePress. President of Belarus Alexander Lukashenko has appointed the National Bank of Belarus as regulator of online loan services and vested it with the powers to keep the register of operators of online lending services and to monitor compliance with the relevant legislation. </p> <p> </p> <p> The new rules of play are set by presidential ordinance #196 "On the online borrowing services and leasing activities" of May 25, says the commentary of the National Bank of Belarus. </p> <p> </p> <p> The ordinance defines the requirements for the implementation of the operator of online borrowing services in Belarus, as well as the order of regulation of lending through these services. </p> <p> </p> <p> The decree also establishes a classification of online borrowing services, peculiarities of conclusion of a money-loan agreement by means of the above services, including essential terms of such agreement, defines the rights of consumers of online borrowing services operator's services and the procedure for their protection. In particular, it determines the maximum amount of interest on the loan agreement concluded through the online borrowing service, as well as the maximum amount of penalty (fine, interest) under such agreement. </p> <p> </p> <p> The decree also regulates certain issues of leasing activity (the maximum amount of overpayment under a leasing transaction, the maximum amount of penalty). </p> <p> </p> <p> The main provisions of the ordinance shall come into force six months after its official publication. The document has not been published yet. End </p>
2021-05-28
Primepress
Lukashenko designates National Bank as regulator of online borrowing services
MINSK, May 27 - PrimePress. President of Belarus Alexander Lukashenko has appointed the National Bank of Belarus as regulator of online loan services and vested it with the powers to keep the register of operators of online lending services and to monitor compliance with the relevant legislation.
The new rules of play are set by presidential ordinance #196 "On the online borrowing services and leasing activities" of May 25, says the commentary of the National Bank of Belarus.
The ordinance defines the requirements for the implementation of the operator of online borrowing services in Belarus, as well as the order of regulation of lending through these services.
The decree also establishes a classification of online borrowing services, peculiarities of conclusion of a money-loan agreement by means of the above services, including essential terms of such agreement, defines the rights of consumers of online borrowing services operator's services and the procedure for their protection. In particular, it determines the maximum amount of interest on the loan agreement concluded through the online borrowing service, as well as the maximum amount of penalty (fine, interest) under such agreement.
The decree also regulates certain issues of leasing activity (the maximum amount of overpayment under a leasing transaction, the maximum amount of penalty).
The main provisions of the ordinance shall come into force six months after its official publication. The document has not been published yet. End