Launching of the State Registry for Encumbrance of Movable Property
AMFA Board submitted to Financal Market Supervisory Authority (FIMSA) recommendations related to promotion of the usage of State Registry for Encumbrance of Movable Property:
Application of the identification method based on the type of the movable property and provision of Encumbrance registry, based on identification of movable properity and passportization mechanism
Type based approach on movable properity
Loan size approach
Common technical challenges faced and mitigation solutions
Recommendations towards the Law on the “Non-Banking Credit Organizations”
AMFA Board and Lobbying working group submitted proposals to Financial Market Supervisory Authority (FIMSA) regarding expansion of service and products offered by Non-Banking Financial Organizations (NBCOs):
Issuing licenses to NBCOs for different categories that will allow them to diiferentate frameworks for their actions and promote development of micro-finace sector;
Opening transaction accounts for users of credit services and carrying out operations on their accounts;
Collecting money, promissory notes, payment and transaction documents of users of credit services and offering them cash-transaction services;
Buying and selling foreign currency within domestic currency market on the request of users of credit services;
Creating opportunities for joint investments on the request of users of credit services.
Project “Agent Banking”
There was rough discussion within AMFA Board about the project on agent banking prepared by the Financial Markets Supervision Authority (FIMSA). Considering perspectives of projects such as financial inclusion, attracting additional liquid funds, opening new job places and improving financial education, it is proposed to apply this service to Non-bank organization (NBCOs) and credit unions.