The minimum capital required of fast loan companies has been raised by the governing council of
The capital may be raised only with own funds of partners and shareholders. A requirement of disclosure of the beneficial owners is established. The necessities to financial institution managers are enhanced, also taking into consideration their reputation.
The ordinance offers in detail the procedure under which existing financial institutions are to meet their obligation to reregister within the term set forth in the law if they want to continue pursuing their activities.
But still, the new requirements will not affect the biggest players on the Bulgarian market: Easy Asset Management, Credissimo,
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