Non - Banking Financial

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In 2018, the Authority launched a draft law that combines financial leasing and factoring activities into one law. Both the parliament and the Cabinet of Ministers approved the draft law. The new Law will enhance financial inclusion and ensure access to non-banking financing tools to segments of society that currently do not benefit from a number of financial services.

The said Law allows companies, associations and NGOs licensed to practice microfinance activities - in accordance with the provisions of Law 141 of 2014 - to provide financial leasing services in light of the controls determined by FRA’s BOD.  The Law aims at supporting and developing entities engaged in microfinance. In addition to expanding the range of non-banking financial services which are  provided using the available database at these entities to reach larger number of those who deal in small craft industries, which is an additional incentive for small complementary industries and opens up wider horizons to create new job opportunities.