he interest rate? Collection methods. But almost all tough google partner agency stories on the edge and beyond the law are not related to MFIs, but to illegal “black” lenders. But they also affect the perception of the microfinance market.
What to do with this? Throw up our hands and say that let’s close this market in principle? But that would be wrong. After all, there are segments of lending that other professional lenders do not go into or are reluctant to go into. These are beginning entrepreneurs, just small amounts – they are not particularly interesting to banks. This is a big expense, they will not have time to earn money in a short period of time within the framework of the banking business model.
As for illegal collection, we offer solutions
to the problem. Thus, in the summer, at the initiative of the Bank of Russia, a law was adopted to tighten administrative liability and introduce criminal liability for illegal creditors. Now the State Duma is considering a bill on criminal liability for illegal collectors. I hope that this will at least partially solve the problem of inadequate collectors, or at least mitigate it. Maybe it will be a plus for the image of the MFI market.
Can “black” creditors be eradicated or only contained?
— We try to prevent illegal activity in the financial market, including the MFI market. After excluding an MFI from our register, we always continue to monitor it and make sure that it does save time and money: by using artificial not provide illegal services. If we discover such cases, we contact law enforcement agencies. In order to inform citizens about the ao lists work of illegal companies and projects, we publish their names on our website. But the Bank of Russia cannot “close” an illegal organization, we do not have the authority to do so. Here the ball is in the court of law enforcement.