Non-banking financial firms doing business in Slovakia will gradually find themselves under the obligation to get a licence, Deputy Finance Minister Vazil Hudák said on Monday.
The licensing system will be coordinated with Slovakia’s Central Bank, which will also be involved with the carrying out of licence supervision. Hudák said that the project may start next year. Non-banking financial firms have come under scrutiny for offering short term loans at very high interest rates and for not disclosing their terms and conditions in a clear manner.
Anca Dragu
