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Looking Back – Developments in the Microfinance Regulations of Myanmar in 2020
January 27, 2021The microfinance regulators in Myanmar namely the Financial Regulatory Authority (“FRD”) and its Microfinance Business Supervisory Committee (“MBSC”) had issued several directives and instructions in 2020, many of which were aimed at regulating microfinance businesses as well as supporting borrowers of micro-credit who had been affected by the pandemic.
Highlights of this note
- Lending to civil servants, private company staff and own staff
- Reporting of funds received from UN sanctioned entities
- Interest period calculation methods
- Regulation of MFI activities during the pandemic period
- Inspection of company premises jointly by MLIP and MOHS
- Extension of deadline for transformation of INGO/NGO to company
- Loan programmes with Myanma Economic Bank
- Provisioning bad debts
- Debt repayment relief for MFI customers in Yangon, Bago and Rakhine
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