The law promotes the formation of a connecting "chain" between microfinance organizations and commercial banks, as well as creating opportunities for microfinance organizations to attract additional financial resources, including deposits.

The institution of a microfinance bank will be introduced, authorized to provide banking services on permitted terms.

The Law also creates a legal framework for the transformation of microfinance institutions into microfinance banks and microfinance banks into commercial banks, and vice versa.

According to the amendment to the Law "On Banks and Banking Activities", the following credit organizations may change their activities:

microfinance organization - for the activities of a microfinance bank;

microfinance bank - for the bank's activities;

bank - for the activities of a microfinance bank;

microfinance bank - for the activities of a microfinance organization.

According to the amendment to the Law "On Licensing, Licensing and Notification Procedures", it is established that the license for the right to operate a microfinance bank will be issued by the Central Bank.

The Law comes into force on the day of its official publication.