On removing information from state register of microfinance organisations

On 26 June 2014, the Bank of Russia took a decision to remove information on the following entities from the state register of microfinance organisations;

• Merlion Finance, limited liability company (PSRN 1115260023174);
• Mordov-Finance, limited liability company (PSRN 1111326000521;
• Magnatek Group, limited liability company (PSRN 1125260014868).

The reason to take this decision was repeated violation within a calendar year of the requirements of Federal Law No. 151-FZ dated 2 July 2010 ‘On Microfinance and Microfinance Organisations’ and other regulations, notably:

— the organisations failed to provide documents containing the report on microfinance activity and their management personnel for 2012 and Q1 2013.

The reference to the Press Service is mandatory if you intend to use this material.

01.07.2014 00.00.00