of November 25, 2014 No. 160
About exchange of credit information
Accepted by Jogorku Kenesh of the Kyrgyz Republic on October 23, 2014
The purpose of this Law is regulation of the relations in the field of exchange of credit information and information on prohibition on the conclusion of credit deal.
The legislation of the Kyrgyz Republic in the field of exchange of credit information and information on prohibition on the conclusion of credit deal consists of the Constitution, this Law and other regulatory legal acts of the Kyrgyz Republic and also which became effective in the procedure for international treaties established by the legislation which participant is the Kyrgyz Republic.
In this Law the following basic concepts are applied:
credit deal - the agreement of the credit, loan, leasing, factoring and other agreements providing on credit money and other property and also agreements according to the Islamic principles of banking and financing taking into account specifics of the applied terminology;
exchange of credit information - interaction of credit bureau, the subject, supplier and user of credit information on collection, processing, the analysis, storage, provision, use and protection of credit information for the purpose of forming of credit history and provision of the credit report;
the subject of credit information - the legal entity or physical person which is acting respectively as the borrower (debtor), the leasing recipient, the client under the agreement according to the Islamic principles of banking and financing, the guarantor, guarantor, or having other financial debt and the obligation to the creditor according to the signed civil agreement, the physical person who established prohibition on the conclusion of credit deal;
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