On the imposition of Monetary Fine to the Microfinance Organization JSC “Moneta Express”  (Identification number 212912730)

 

A Financial Penalty of 4 000 (four thousand) Lari was imposed on the Microfinance Organization for 2 (two) cases of failure to submit correct information to the Inspection group of the National Bank of Georgia during inspection, which according to the article 3 paragraph 3 subparagraph “P” of the Rule Approved by the Decree №16/04 (Amended after April 5, 2021) of the President of the National Bank of Georgia on  “Determining the Penalty amount, Imposition and Enforcement of Fines to the Microfinance Organization and its Administrator” envisages a fine with the amount of 2 000 Lari on each case. In total- 4 000 lari.

 

A Financial Penalty of 2 000 (two thousand) Lari was imposed on the Microfinance Organization for 1 (one) case of Failure to update information about the client and/or beneficial owner and/or failure to obtain permission from management to establish and continue business relations with the client, which according to the article 3 paragraph 3 subparagraph “D” of the Rule Approved by the Decree №16/04 (Amended after April 5, 2021) of the President of the National Bank of Georgia on  “Determining the Penalty amount, Imposition and Enforcement of Fines to the Microfinance Organization and its Administrator” envisages a fine with the amount of 2 000 Lari on each case. In total- 2 000 lari.

 

A Financial Penalty of 6 000 (six thousand) Lari was imposed on the Microfinance Organization for 2 (two) cases of failure to report accurate information to the National Bank of Georgia under the provisions of the “Rules on filing and submitting illicit income legalization and Terrorism Financing Risk Supervision Reports by Microfinance organization”,  which under the Article 3, Paragraph 4, sub-paragraph ‘d’ of the Rules “ On Determining the Penalty Amount, Imposition and Enforcement of Fines to the Microfinance Organizations and its Administrators” approved by the Decree of the President of the National Bank of Georgia on February 5, 2020 №16/04 ((Amended after April 3, 2021)  envisages a fine of GEL 1 000 ( thousand) on each case of infringement, in total -6 000 lari.

 

In total Microfinance Organization JSC “Moneta Express”  (Identification number 212912730) was fined with 12 000 (Twelve Thousand) lari.