Updates concerning loan originators from Kazakhstan on Robo.cash
Due to recent changes in the legislation of Kazakhstan concerning microfinance activity, Robocash Group suspends operations of the loan originator LLP Z-Finance. From now on, lending services of the group in the country will be provided by LLP MFI Tez Finance.
The company is a licensed microfinance institution listed in the register of the National Bank of the Republic of Kazakhstan. The status allows it to fully comply with the updated legislation and continue business activities of Robocash Group in the country. To mention, since 2015, the group has issued 117 mln EUR of loans and served 785,000 customers in Kazakhstan.
Taking into account these changes, LLP Z-Finance stops its activities on the platform Robo.cash. Investment opportunities from Kazakhstan will now be provided by LLP MFI Tez Finance. Its main product is PDL loans of up to 330 euro with the maturity period of up to 45 days. The conditions for investors remain the same. All loans will be listed in EUR and secured with a 100%-buyback guarantee from the lender. The expected net annual return for investors will be up to 12%.
All the current loans issued by LLP Z Finance will be served until they are closed. All the invested funds including the earned interest will be paid back to investors in due course set by the existing assignment agreements.
Taking into account the changes, it is recommended to update the settings of investment portfolios.
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