of May 20, 2024 No. 87
About introduction of amendments to the Law of the Kyrgyz Republic "About the microfinancial organizations in the Kyrgyz Republic"
Accepted by Jogorku Kenesh of the Kyrgyz Republic on April 11, 2024
Bring in the Law of the Kyrgyz Republic "About the microfinancial organizations in the Kyrgyz Republic" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2002, No. 9, the Art. 412) the following changes:
Item 1 of Article 16 to state 1) in the following edition:
"1. If other is not established by this Item, the microfinance company can perform the following banking activities taking into account the restrictions set by National Bank provided that such transactions are specified in the license:
1) issue of the secure and unsecured microcredits;
2) acceptance of term deposits from physical persons and legal entities on the terms of recoverability for the purpose of accumulating of savings of clients;
3) purchase and sale of debt obligations (factoring);
4) implementation of retail banking services according to the agency agreement with bank without opening of accounts to clients in microfinance company;
5) issue of guarantees in the amount of, not exceeding in total with the microcredit (leasing) the standard rate of the maximum loan amount on one borrower;
6) release of the issued credit cards of national payment system for issuance of credits in non-cash form, except for the overdraft, with observance of requirements of the legislation in the field of counteraction to financing of terrorist activities and to legalization (washing) of the criminal income and regulatory legal acts of National Bank.
The microfinance company can perform acquiring of payment cards, and also electronic money issued in the territory of the Kyrgyz Republic, two-dimensional symbols of barcode (QR code) and other payment instruments according to requirements of regulatory legal acts of National Bank provided that this transaction is specified in the license.";
Item 2 of Article 33 to state 2) in the following edition:
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