"Banking and Finance" Survey : 69% of Readers Demand to Ban Online-loans

The majority of "The Banks  and Finance" readers demand to ban online- loans  in Georgia. According to the newspaper,  along with the rise in popularity of online-loans,  public discontent  is growing in this regard. The expert circles have been actively discussing the introduction of regulations in the sector.

 

In the period from January 28 to February  6, "The Banks and Finances" conducted a survey  on how to regulate online-loans. A total of  2 102 citizens took part in the survey, 69% of them believe that  online-loans should  be banned,  5%  say that the sector should not be regulated while  26%  believe it should be regulated by the central bank.

 

According to "The Banks  and Finances",  the study showed that the annual percentage rate  on a 30-day GEL 600 loan  starts from 450%  and reaches 872.84%.