It should be noted that starting from November 1, all citizens of the country have the opportunity to set a self-restriction on loan applications in the "Tündük" app. Anyone interested can activate the option "I prohibit concluding loan agreements on my behalf."
It is important to emphasize that if a commercial bank issues a loan despite the established self-restriction, the financial organization will bear full responsibility.
This initiative aims to reduce the level of fraud and protect citizens from unauthorized loan applications.
At the end of July, the president signed amendments to a number of legislative acts concerning the exchange of credit information and the introduction of self-restrictions on concluding loan agreements.
Previously, the National Bank proposed amendments to the Law "On the Exchange of Credit Information," which include:
- the obligation of financial and credit organizations to request information from existing credit bureaus about the presence of a self-restriction on concluding loan agreements and to refuse credit if such a self-restriction exists;
- the procedure for establishing and lifting a self-restriction, which must be carried out by the subject of credit information—a natural person—independently and free of charge through the State Portal of Electronic Services of the Kyrgyz Republic. Information about self-restrictions will be sent to credit bureaus chosen by the individual.
Banking institutions are required to request information from credit bureaus about the existence of a restriction on concluding a loan agreement established by the client and to refuse to provide a loan if such a restriction is valid.
