He emphasized that the work of Financial Supervision is carried out in strict accordance with the law.
“From 2018 to 2024, during the moratorium, scheduled inspections were not conducted; however, we continuously monitored the activities of pawnshops using online resources and electronic systems,” he explained.
According to Ashimjan uulu, during the moratorium, identifying violations became significantly more difficult.
“Inspections were conducted only based on citizens' complaints if their rights were violated,” he added.
The expert also noted that on May 23, 2024, amendments were made to the Law on the Activities of Pawnshops regarding interest rate limitations.
“The National Bank calculates the average nominal effective rate every six months, to which 12% is added. Since the legislation was amended, the maximum interest rate on pawnshop loans does not exceed 30%,” he clarified.
Ashimjan uulu also noted that unscheduled inspections are conducted in strict accordance with the procedures established by law.
“Facts of violations are recorded, after which we send a directive to the Ministry of Economy, which gives us the right to conduct an inspection and apply measures to pawnshops,” the specialist explained.
He added that all identified violations are processed appropriately: fines are imposed, deficiencies are corrected, and citizens are provided with necessary assistance.
“We also maintain relevant statistics on the results of inspections and measures taken,” concluded Süyörkul Ashimjan uulu.
