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It is registered

Ministry of Justice

Republic of Tajikistan 

 On January 16, 2013 No. 600

RESOLUTION OF BOARD OF NATIONAL BANK OF TAJIKISTAN

of August 2, 2012 No. 168

About approval of the Instruction No. 196 "About procedure for regulation of activities of the microcredit deposit institutions"

(as amended on 28-05-2015)

According to article 23 of the Law of the Republic of Tajikistan "About the microfinancial organizations", the Board of National Bank of Tajikistan decides:

1. Approve the Instruction No. 196 "About procedure for regulation of activities of the microcredit deposit institutions" it (is applied).

2. In accordance with the established procedure to provide this Resolution to the Ministry of Justice of the Republic of Tajikistan for state registration.

3. Enact this Resolution after state registration and on the expiration of 90 days from the date of official publication.

4. The resolution of Board of National Bank of Tajikistan of January 11, 2011, No. 2 "About approval of the Instruction No. 135 "About procedure for regulation of activities of the microcredit deposit institutions", registered in the Ministry of Justice of the Republic of Tajikistan of January 26 2011, No. 600, to consider invalid.

5. To assign execution of Items 3 and 4 of this Resolution to Department of banking supervision (Davlatov I. H.), Legal Management (Davlatov Sh. F.) and Press service (Kurbonov A. A.).

6. To impose control of execution of this Resolution on the vice-chairman of National Bank of Tajikistan Nejmatov A. H.

Chairman of the board of National Bank of Tajikistan

A. Shirinov

The instruction No. 196 "About procedure for regulation of activities of the microcredit deposit institutions"

The instruction "About procedure for regulation of activities of the microcredit deposit institutions" (further - the Instruction) is developed according to article 23 of the Law of the Republic of Tajikistan "About the microfinancial organizations", determines procedure for regulation of activities of the microcredit deposit institutions by establishment and calculation of prudential regulations, the maximum size of the microcredit and the minimum size of the authorized capital.

1. General provisions

1. For the microcredit deposit institutions the following obligatory prudential standard rates are established:

- minimum size of the authorized capital;

- capital adequacy ratio;

- standard rate of current liquidity;

- the maximum extent of risk on one borrower or group of the interconnected borrowers;

- the standard rate of use of own means for share acquisition (shares) of legal entities;

- the limiting standard rate of the size of the attracted savings and deposits.

2. The size of one microcredit issued by the microcredit deposit institution to physical persons shall not exceed the amount of equivalent 250 000 (two hundred fifty thousand) somoni and issued to legal entities shall not exceed the amount of equivalent 500 000 (five hundred thousand) somoni.

3. The size of one microcredit issued to other microfinancial organizations shall not exceed the amount of equivalent 1 500 000 (one million five hundred thousand) somoni.

2. Minimum size of the authorized capital of the microcredit deposit institutions

4. For again created microcredit deposit institutions the minimum size of the authorized capital is established in the amount of 6 000 000 (six million) somoni.

5. The maximum size not of cash part of the authorized capital for again created microcredit deposit institutions shall not exceed 20 percent of the created authorized capital.

6. Not cash part of the authorized capital of the microfinancial deposit organization is created only at the expense of tangible assets, namely: the equipment of the microcredit deposit institution (computer facilities, office furniture and conditioners) and buildings (room) in which the microcredit deposit institution, except for construction in progress is located.

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