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
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.