From RT July 23, 2014 After the major headline hogging BRICS summit, the next...
Prudential Regulations for Microfinance Banks (consumer protection related)
(amended through 2011)
The Prudential Regulations for Microfinance Banks applies to all microfinance banks (MFBs) incorporated in Pakistan and licensed by the State Bank of Pakistan, and includes several consumer protection measures. Regulation 11 caps the amount that a borrower in Pakistan can borrow in aggregate from MFBs, MFIs, other financial institutions or NGOs, aims thereby to prevent over-indebtedness clients. Rules 10 and 30 also require disclosure of terms and conditions to clients, as well as transparent pricing.