Quarterly report pursuant to Section 13 or 15(d)

LOANS ISSUED

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LOANS ISSUED
3 Months Ended
Dec. 31, 2021
Loans and Leases Receivable Disclosure [Abstract]  
Loans Issued LOANS ISSUED
Loans issued as of December 31, 2021, consisted of the following:
Amount Outstanding Due Dates
Average Interest Rate
Fair Value of Collateral Loan Currency
Mortgage loan $ 19,874  February 2023 - September 2036 15.19  % $ 19,846  KZT
Uncollateralized bank customer loans 16,075  January 2022 - December 2036 18.22  % —  KZT
Subordinated loan 5,132  December 2022-April 2024 4.89  % —  USD
Subordinated loan 1,358  September 2029 7.00  % —  UAH
$ 42,439 
During the nine months ended December 31, 2021, the Company entered into agreements with a related party microfinance organization to purchase uncollateralized consumer retail loans. The agreements provide the Company the ability to sell back to the microfinance organization up to $9,263 of the total loans purchased.

The Company has determined that it has assumed substantially all of the risks and rewards from the transferor of the loans, with the exception of the amount it has the right to sell back to the transferor, accordingly the Company has received control of the loans and has recognized the loans on its Condensed Consolidated Balance Sheets.
During the nine months ended December 31, 2021, the Company purchased loans in the aggregate amount of $29,020 and sold back loans totaling $6,828 to the microfinance organization.

As of December 31, 2021, the Company held outstanding loans purchased from the microfinance organization totaling $16,802, net of an allowance of $727.
Loans issued as of March 31, 2021, consisted of the following:
Amount Outstanding Due Dates
Average Interest Rate
Fair Value of Collateral Loan Currency
Subordinated loan $ 5,033  December 2022-April 2024 3.69  % $ —  USD
Uncollateralized non-bank loan 2,382  January 2022 – February 2022 3.00  % USD
Subordinated loan 1,331  September 2029 7.00  % UAH
Bank customer loans 880  March 2024 15.41  % 729 KZT
$ 9,626