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Decision on Documentation Necessary for the Issuing Of Approval for Founding Of the Micro-Credit Organization
Decisions stating requirements for microcredit organizations' pending approval in Bosnia-Herzegovina
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This document lists three decisions of the RS Ministry of Finance with regards to the Law on Microcredit Organizations in Bosnia and Herzegovina (BiH). All of these decisions are published in the "RS Official Gazette".
The three decisions are:
- Decision on documentation necessary for the issuing of approval for founding of the microcredit organization: states the necessary documentation to be enclosed along with the request for approval;
- Decision on documentation necessary for opening the microcredit organization office with the seat in the BiH Federation: lists the requirements and necessary documents that the organization needs to submit to the Ministry of Finance, along with the request for issuing the approval for opening of the office in the RS territory;
- Decision on definition of the microcredit: defines microcredit as credit approved by the microcredit organization under condition that:
- Amount of the credit in the first investment to the individual client shall not be higher than 5,000 KM;
- Maximal amount of the credit in any investment shall not be higher than 30,000 KM;
- Deadline for credit repayment shall not be longer than 36 months;
- Credit shall be made exclusively for the financing of the business activities that shall realize a certain income.
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