The majority of "The Banks and Finance" readers demand to ban online- loans in Georgia. According to the newspaper, along with the rise in popularity of online-loans, public discontent is growing in this regard. The expert circles have been actively discussing the introduction of regulations in the sector.
In the period from January 28 to February 6, "The Banks and Finances" conducted a survey on how to regulate online-loans. A total of 2 102 citizens took part in the survey, 69% of them believe that online-loans should be banned, 5% say that the sector should not be regulated while 26% believe it should be regulated by the central bank.
According to "The Banks and Finances", the study showed that the annual percentage rate on a 30-day GEL 600 loan starts from 450% and reaches 872.84%.