PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of October 23, 2019 No. 394

About enhancement of procedure for provision and attraction of loans

For the purpose of enhancement of procedure for provision and attraction of loans, implementation of microfinancial activities, protection of the rights and valuable interests of citizens:

1. Determine what has the right to perform microfinancial activities:

1.1. microfinancial organizations:

the commercial microfinancial organizations, being the legal entities registered in the Republic of Belarus in the form of economic society or the unitary enterprise and recognized by pawnshops (further – the commercial microfinancial organizations);

the non-profit microfinancial organizations, being the legal entities registered in the Republic of Belarus in the form of consumer cooperative and created in type:

consumer cooperatives of financial mutual assistance;

societies of mutual financing of subjects of small and medium entrepreneurship;

consumer cooperatives of the second level;

1.2. specialized organizations:

the legal entities created in the form of state (republican or utility) the unitary enterprise, and also economic society, 50 and more percent of shares (share in authorized fund) of which belong to the Republic of Belarus and (or) its administrative and territorial units, registered in the rural zone and included in the state information resource "Register of Household Services of the Republic of Belarus";

the legal entities performing buying up at citizens of precious metals and gemstones in products and scrap for replenishment of the State fund of precious metals and gemstones;

the legal entities registered in the Republic of Belarus and having the right to render services of cellular mobile telecommunication.

2. Operation of this Decree does not extend:

on the relations:

commercial loan;

the loan which is drawn up by the bill of exchange or the bond;

loan between legal entities, not being the microfinancial organizations;

loan between physical persons, except for individual entrepreneurs;

the loan granted by physical persons, except for individual entrepreneurs by means of online borrowing services;

the loan granted by legal entities not being the microfinancial organizations, and also individual entrepreneurs to the faces consisting with them in employment relationships;

on activities:

Belarusian fund of financial support of entrepreneurs;

Belarusian innovative fund;

organizations of financial support of entrepreneurs;

banks and non-bank credit and financial organizations;

legal entities and individual entrepreneurs on attraction of money by means of creation and placement of own digital signs (tokens) according to the legislation;

the legal entities except for having the right to perform microfinancial activities, and individual entrepreneurs on receipt (attraction) of money from physical persons, except for individual entrepreneurs, by means of online borrowing services;

in other cases established by legal acts.

3. The commercial microfinancial organizations have the right to perform microfinancial activities in the form of provision:

consumer microloans on the security of the personal estate intended for personal, family or home use;

consumer microloans via bank transfer without pledge in the amount which is not exceeding 200 basic sizes on one borrower on the date of the conclusion of the agreement of consumer microloan by means of services of online borrowing in case of compliance to the criteria established by National Bank.

In addition to the activities specified in part one of this Item, the commercial microfinancial organizations have the right to perform according to the legislation:

storage of the personal estate intended for the personal, family or home use except for accepted as a deposit as ensuring obligation fulfillment of the borrower under the agreement of microloan;

acquisition of the personal estate intended for personal, family or home use, for the purpose of its realization on its own behalf, except for accepted as a deposit as ensuring obligation fulfillment of the borrower under the agreement of microloan;

commission trade;

leasing (sublease) of the belonging to them on the property right or economic maintaining (received according to the lease agreement, subleases) the real estate (its part).

The legal entities called in paragraphs by third or pole of subitem 1.1 of Item 1 of this Decree (further – the non-profit microfinancial organizations) having the right to perform microfinancial activities in the form of provision to members of such organizations of microloans, except for consumer microloans.

The legal entities called in paragraphs second and third subitem 1.2 of Item 1 of this Decree, having the right to perform microfinancial activities in the form of provision of consumer microloans on the security of the personal estate intended for personal, family or home use with transfer to ownership of subject of pledge to such legal entities (pledge).

The legal entities called in paragraph four of subitem 1.2 of Item 1 of this Decree, having the right to perform microfinancial activities in the form of provision of consumer microloans via bank transfer without pledge in the amount which is not exceeding 200 basic sizes on one borrower on the date of the conclusion of the agreement of consumer microloan.

4. The commercial and non-profit microfinancial organizations acquire the status of the microfinancial organizations and have the right to perform microfinancial activities from the date of inclusion by their National Bank in the register of the microfinancial organizations (further – the register) on condition of compliance to requirements imposed by this Decree and regulatory legal acts of National Bank.

The specialized organizations have the right to perform microfinancial activities from the date of informing by National Bank on receipt of the notification on intention to perform these activities, directed on paper (registered mail) or in electronic form according to the procedure, established by National Bank.

Such informing is performed by National Bank on paper (registered mail) or in electronic form no later than five working days from the date of receipt of the notification.

5. The National Bank realizes state policy in the field of the relations arising when implementing microfinancial activities and establishes:

procedure for creation and maintaining register;

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