Individually owned enterprises or small merchants hit by Covid will be able to apply for debt adjustment starting in October.
September 1, 2022The CCRS and 5 state-backed guarantee institutions have agreed to adjust credit recovery standards to help borrowers of guaranteed loans return to normal more quickly.
January 5, 2022The application deadline for pre-workout programmes was due to end at the end of this month. This will be extended to 31 December.
June 18, 2021Proposed revisions set the common contribution rate at 0.03 percent of the balance of household loans for each financial institution.
June 11, 2021Legislative revisions will expand the pool of microfinance funds available by requiring banks and other FIs to make mandatory contributions.
May 27, 2021Lenders will be prohibited from denying loan deferments on non-overdue loans and from activating a trigger clause for events of default when a borrower applies for debt adjustment.
October 20, 2020The programme is available through all FIs from 29 April until year-end, allowing vulnerable debtors to defer principal payment for 6-12 months.
April 27, 2020