The agency summarized the results of a five-year reform aimed at improving pawnshop activities. The main goals of the reform were to protect consumer rights, reduce debt burden, and legalize the sector.
Starting from May 2024, a new legislative ceiling for the annual interest rate has been established in the country, which is "the NB KR rate + 12 percent." This innovation has significantly reduced the cost of loans to approximately 30% per annum and eliminated situations where loans were issued at 100-300% per annum.
Additionally, a ban has been introduced on transmitting information about borrowers to credit bureaus if the loan amount is less than 200 thousand soms. This innovation is aimed at protecting citizens' personal data and preventing the deterioration of their credit history due to small loans. The government has also prohibited pawnshops from arbitrarily changing the terms of the contract, which could increase clients' obligations.
The regulator has tightened requirements for internal control and assessment of clients' solvency. Special attention is now paid to the safety of collateral and preventing unlawful retention of property. Pawnshops are required to implement risk management systems, and Financial Supervision has shifted to a risk-oriented approach in monitoring their activities.
To consolidate the market, a phased increase in capital has been introduced. Thus, starting from January 1, 2025, the minimum norm is set at 3 million soms, which will increase to 7 million by July 2026, to 14 million by 2027, and will reach 20 million soms by July 2028.
Financial Market Regulation and Supervision Service.
As of February 25, 2026, there are 383 officially registered pawnshops in Kyrgyzstan.
