At the beginning of April, the AFIN representatives submitted the Trade Register with the Iasi Courthouse the documents for the establishment of AFIN IFN SA.
This procedure involves setting up AFIN as a joint stock company. According to the documents filed with the Trade Register, AFIN IFN S.A., upon incorporation, AFIN will have 170 founding shareholders and a share capital of 1,225,000 RON.
Following the analysis of documents by the representatives of the Iasi Trade Register and the establishment of AFIN NBFI S.A. as a share company, the following step will be its registration with the National Bank of Romania as a non-banking financial institution.
AFIN NBFI S.A. will become a UNIQUE Romanian entity because it will be:
- A newly established entity having one of the highest numbers of founding members;
- The first Romanian non-banking institution having included in its articles of incorporation the organization’s mission statement;
- The first Romanian non-banking institution to function as a social enterprise (90% of the profit will be reinvested);
- The first non-banking institution with private capital to offer loans exclusively to social economy organizations from Romania.
We will keep you posted on the entire process of the establishment of the latest financing institution dedicated to the social economy sector.
If you want to become an AFIN shareholder, please acces INVEST.
If you wish to know more about what it means to be an AFIN shareholder, please access the Q&A section..