The Central Bank has imposed a range of new restrictions on moneylending businesses, placing them more closely under its scrutiny. It has also set their minimum capital at LL2 billion ($1.33 million). Moneylenders provide loans in small amounts to people who cannot borrow from banks, in exchange for a real guarantee.
BDL said in a new circular issued last week that moneylenders should obtain its prior approval before opening a new branch and should have available money worth LL2 billion f...
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