Article 31-1. Notification of approval of financial products by a microfinance organization The Law on Microfinance Activities

Home / RLA / Article 31-1. Notification of approval of financial products by a microfinance organization The Law on Microfinance Activities

The microfinance organization notifies the authorized body of the approval of financial products by the microfinance organization's body authorized to approve financial products within ten working days from the date of their approval.

The list of financial products that the microfinance organization notifies the authorized body of, the procedure for notifying the authorized body of the approval of financial products by the microfinance organization, as well as the list of documents attached to the notification and information on approved financial products specified in the notification, are determined by regulatory legal acts of the authorized body.

The Law of the Republic of Kazakhstan dated November 26, 2012 No. 56-V.

This Law regulates public relations related to the provision of micro-loans, establishes the specifics of the creation and reorganization of organizations engaged in microfinance activities, the legal status, activities of organizations engaged in microfinance activities, and also defines the specifics of state regulation of organizations engaged in microfinance activities, control and supervision of their activities.

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