Fin-Tech Changes: Operating Online Importation Services And Improving Individual Lessees' Protection

Edict of the President of the Republic of Belarus No. 196 was published "On online importation services and leasing activities" was published on May 28, 2021. We have scrutinised the alterations introduced by the document.

New legal framework for operating online importation services

According to the Edict, online importation services are Internet websites and software used by businesses and individuals to conclude loan agreements and accessory contracts (contracts of pledge, indemnity contracts, contracts of suretyship). Here we are going to cover the key aspects of operating the services as specified by the Edict, and further improvements to be introduced by the National Bank as the authorised regulator.