Directive Notice No. 2 of 2021 - Excluded Moneylenders
- Details
- Category: Press Release
- Created: 22 November 2021
The Reserve Bank is hereby issuing Directive No. 2 that supersedes Directive No. 1 issued on the 27th November 2020 that the following entities are exempted from the Moneylenders Act:
- Any Body corporate, incorporated or empowered by an Act to lend in accordance with that Act;
- Banks licensed under the Banking Act (formerly Financial Institutions Act);
- Microfinance Institutions licensed under the Microfinance Institutions Act;
- Retirement Funds;
- Credit Unions;
- Cooperative Societies;
- Credit Institutions; and
- International Financial Institutions and development partners (e.g. Asian Development Bank, World Bank, International Financial Corporation, Japan International Corporation Association, International Monetary Fund, European Union etc)
- Any person who –
- lends money solely to employees as a benefit of employment;
- lends money solely to -
- corporations;
- limited liability partnerships;
- trustees for the purposes of business trusts;
- Other entities as established by the Reserve Bank through directives.
Enquiries
Financial Systems Department
National Reserve Bank of Tonga
Fasi mo e Afi
NUKU'ALOFA
Telephone: (676) 24057
Fax: (676) 24201
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Resources
Press Release in English 111 KB - Download a copy of the full press release. |
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