Features of consumer lending regulation in the Republic of South Ossetia
The article is devoted to the peculiarities of consumer credit regulation in the Republic of South Ossetia. The financial services market in the Republic is currently poorly developed. There is a need to expand and develop banking services, and in particular lending to the population with other types of loans, except for issuing loans at interest rates. The sphere of entrepreneurship in South Ossetia is poorly developed, and lending to the population is becoming more and more popular every year. As a rule, lending expands the effective demand of the population. The article notes that Sberbank of South Ossetia is almost the only financial institution in the Republic of South Ossetia that allows the population of the Republic to get consumer credit, so consumer lending in the Republic has a significant social significance. The population usually has the opportunity to purchase various goods. The more the population receives consumer loans, the more it begins to buy all kinds of goods and, accordingly, the structure of the population’s demand for goods changes. Since 2018, in addition to issuing consumer loans, Sberbank of RSO has been participating in the implementation of the state program of preferential lending to small and medium-sized businesses. According to the legislation, the Parliament of RSO annually approves the state program for supporting small businesses. Financial resources for the implementation of the program are provided at the expense of the Republic of South Ossetia’s own budget revenues in the amount of at least 2% of the annual state budget revenues. The authors note the need for further development of this type of banking services in the Republic, in particular, it is proposed to develop a new type of credit products in addition to the practice of consumer lending, and to develop a law regulating civil relations for the legal regulation of relations in the financial sphere. The sources regulating the activities of a credit institution are analyzed.