These measures aim to align banking legislation with the Law of the Kyrgyz Republic on credit information, as well as to introduce a self-ban on loans.
Expected economic consequences of the innovations:
- Introduction of a self-ban on loans: Citizens will be able to independently block or unblock access to loans through the government services portal (tunduk.gov.kg). This will help reduce risks associated with excessive lending and ill-considered financial decisions.
- Mandatory creditworthiness checks: All credit organizations (banks, microfinance organizations, credit unions, housing construction cooperatives, guarantee funds) are required to request information from credit bureaus before approving a loan. In case of an active ban, refusal is mandatory.
- Reduction of systemic risks: Strengthening credit discipline will help reduce the share of non-performing loans (NPL) on the balance sheets of financial institutions.
The changes will affect the following NPAs (including Islamic financing)
1. Rules for MFOs (2003 No. 4/2).
2. Minimum requirements for credit risk in credit unions (2009 No. 50/7).
3. Consolidated act (2010 No. 52/4).
4–7. Provisions for Islamic operations (2013–2014).
8. Regulation of credit bureaus (2016 No. 40/5).
9. Housing construction cooperatives (2019 No. 2019-P-33/55-2).
10. Syndicated lending (2022 No. 2022-P-12/31-1).
11. Licensing of credit bureaus (2023 No. 2023-P-17/79-3).
12. Guarantee funds (2024 No. 2024-P-12/8-3).
This resolution comes into effect on November 1, 2025.
