On 12 November 2026, the Financial Regulatory Authority (FRA) announced that its Board of Directors had extended the suspension of new applications for incorporation, preliminary incorporation approvals and operating licences for consumer finance and microfinance companies until 11 October 2027, under FRA Board Decision No. 213 of 2026.
The extension also covers applications from non-governmental organisations (NGOs) and civil foundations seeking to conduct microfinance activities, until the same date. It continues the suspension first introduced by FRA Board Decision No. 184 of 2024.
The FRA links the decision to the financial stability of non-banking financial activities and to its assessment of market needs, the volume of activity and the quality of services provided.
Separately, under FRA Board Decision No. 43 of 2026, new incorporation and licensing applications for consumer finance companies that use financial technology (FinTech) are suspended until 25 February 2027, with an option for renewal.