BDL Issues Basic Circular 4 Related to Finance Company Establishment & Intermediate Circular 767 Related to Cards
On May 21st, 2026, the Central Bank (BDL) issued basic circular 4 (decision 13819) related to establishing and functioning of finance companies and intermediate circular 767 (decision 13823) related to new guidelines on banking cards.
Basic circular 4 issued was addressed to finance companies. The circular is related to the conditions for the establishment and functioning of finance companies. The circular prohibits natural persons from engaging in lending. As for legal persons, except for banks, they are required to get prior approval to be licensed as a Finance Company from BDL Central Council before engaging in lending services such as lending and fiduciary operations and Microfinance. It is to be noted that companies that provide microfinance services are not eligible to provide Lending or Fiduciary operations without a prior license. However, companies that offer lending services are eligible to provide micro-lending services without additional licenses or raising the minimum capital.
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