Today there is no disadvantage in excessive debts to the Georgian market, Archil Bakuradze, head of the supervisory board of Crystal microfinance organization told BM.GE. The sector needs reasonable regulations, however, in the instance of maximum restrictions, new threats will arise available, he said.
“Number of insolvent clients and families does not give ground for panics. The industry in perfect shape and there is no problem with?excessive debts. Such as, this market of physical bodies C the problem goes better here, because top margin of curiosity rates and new regulations were introduced etc. We presume nothing more should be carried out in cases like this, however, reasonable regulations will foster the market later on. With regards to future threats, naturally collapse threats exists for any banking sector. Therefore, the finance sector must be very good and will also not cause crediting crisis”, he was quoted saying.
