On 27 December 2010, the Russian government issued Resolution No. 1149 "On Measures to Implement the Federal Law 'On Microfinance Activities and Microfinance Organisations'.". This entered into force on 4 January 2011.
On 27 December 2010, the Russian government issued Resolution No. 1149 "On Measures to Implement the Federal Law 'On Microfinance Activities and Microfinance Organisations'." The Resolution entered into force on 4 January 2011.
The Resolution vests the Ministry of Finance with the power to supervise microfinance activities. It is empowered to approve rules for maintaining a state register of microfinance entities, establish mandatory economic ratios and reporting forms for microfinance entities, and control their compliance with the Anti-Money Laundering Law.