According to the decree of the Vice President of the
National Bank of Georgia of November 1, another microfinance organization has stopped
functioning in Georgia- bpn.ge reports.
Specifically, registration for the MFO Swiss-Credit has been abolished and the liquidation process has started.
According to the National Bank’s statistics, this year the number of microfinance organizations is decreasing almost every month. As of January 2019, a total of 65 microfinance organizations were registered in the country, in February - 63 MFOs; in March-April - 61; in May- 58 MFOs; in June- 56 microfinance organizations were registered in the country, in July - 55 ; in August - 53, in September - 52; as of November 11 their number made 48.
The number of microfinance organizations reduced by 19 in one year. As of November 2018, in total 67 MFOs were registered in Georgia.