this blog post will display to the Micro-lending & Credit Agreementdepartment
In terms of the Usury Act, 1968 (Act No. 73 of 1968) a moneylender is defined as any person who is granting or has granted a loan or a sum of money to a prospective borrower in terms of a money lending transaction. The Minister issued Exemption Notice No. 189 of 25 August 2004 under Read more about MICROLENDING INTEREST RATES[…]
INTRODUCTION NAMFISA’s Complaints Department receives and handles a number of complaints on a daily basis. These complaints are dealt with according the normal complaints handling procedures in the Department. The following areas have been identified as requiring special attention focus by the consumers of financial services as they have featured in the complaints received during Read more about FOCUS AREAS COMPLAINTS[…]
1. What is a Credit Transaction? A credit transaction is a transaction whereby the credit grantor (service pro-vider) sells or supplies to a credit receiver (consumer) movable property or services against payment by the credit receiver to the credit grantor of a sum of money. The sum of money is repayable by mutual agreement between Read more about REDIT AGREEMENTS WHAT YOU NEED TO KNOW ABOUT CREDIT TRANSACTIONS[…]
In terms of the Usury Act, 1968 (Act No. 73 of 1968), a money lender is defined as any person who is granting or has granted a loan or a sum of money to a prospective borrower in terms of a money lending transaction. The Minister issued Exemption Notice No. 189 of 25 August 2004 Read more about MICRO-LENDING OPERATION[…]