Article 2. Requirements for Registration of MFO at the National Bank of Georgia

1. The requirements for registration of MFO at the National Bank of Georgia are
as follows:
a) Paid-in authorized capital shall be no less than 250000 (two hundred fifty
thousand) Lari;
b) Director (a member of the Board of Directors) shall meet the fit and proper
criteria specified in Article 7 of the Law of Georgia “On Microfinance
Organizations”.
2. MFO is authorized to apply to the National Bank of Georgia for registration only
in case it meets the requirements envisaged in item 1 of this Article.