On removing information from state register of microfinance organisations

On 14 July 2014, the Bank of Russia took a decision to remove information on the following entities from the state register of microfinance organisations:

• SocFinance, limited liability company (PSRN 1135658000048);
• Micro Zaim, limited liability company (PSRN 1135658006967);
• Favorite Financial Group, limited liability company (PSRN 1136311001969);
• FastFinance, limited liability company (PSRN 1136315001888);
• Otkrytie, limited liability company (PSRN 1107328002902);
• InvestCapital, limited liability company (PSRN 1130280020078);
• Million, limited liability company (PSRN 1112536002380);
• MFO Povolzhye, limited liability company (PSRN 1125658019310).

The reason to take this decision was repeated violation within a 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 the first six months and the first nine months of 2013.

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15.07.2014 00.00.00