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of May 18, 2012 No. 19/6

About requirements to the banks and other financial credit institutions licensed and regulated National Bank of the Kyrgyz Republic, in case of issuance of credits to clients physical persons

(as amended on 15-06-2017)

For the purpose of consumer protection of the banking services rendered by the banks and financial credit institutions licensed and/or regulated by National Bank of the Kyrgyz Republic due to the need of increase in efficiency, safety and reliability of bank system of the Kyrgyz Republic, and also considering addresses of borrowers, according to Articles 3, of 4, of 7, 43 Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", Articles 3, of 4, of 7, of 35, of 39, of 39-1 Law of the Kyrgyz Republic "About banks and banking activity in the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. To all commercial banks, the microfinancial organizations, credit unions and JSC FKKS to establish in the credit agreement with the client physical person, including the individual entrepreneur without formation of legal entity, interest rate on penalty (to penalties, penalty fee) for overdue debt on the main amount and percent no more loan interest rate specified in the agreement. At the same time the penalty size (penalties, penalty fee) added for the entire period of action of the credit shall not exceed 20 percent from the amount of the issued credit.

2. To legal Management:

- publish this resolution on the official site of National Bank of the Kyrgyz Republic.

- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

3. This resolution becomes effective after 15 days from the date of official publication.

4. To management of methodology of supervision and licensing to bring this resolution to the attention of commercial banks, microfinancial organizations, the OSOO "FKPRKS" specialized financial and credit organization legal successor and credit unions.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Chokoyev Z. L.


Chairman Z. Asankozhoyeva


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