| Micro Finance Regulatory Council |
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| Postal Address |
PO Box 2694
Houghton
South Africa
2041
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"The primary aim of the regulatory council has been identified as the promotion of the money-lending industry so as to allow for sustainable growth in the industry and to serve legitimate unserved credit needs."
The Micro Finance Regulatory Council (MFRC) has been established in accordance with the Usury Act Exemption Notice of 1 June 1999. The MFRC, is an association incorporated under Section 21 of the Companies Act, and has been recognized as the official and single regulator of all money lending transactions falling within the scope of the Usury Act Exemption Notice.
Any money lender who wishes to avail themselves of the benefits of the Usury Act Exemption, will be required to register with the MFRC and thereafter comply with the rules of the MFRC and the Exemption Notice.
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