From RT July 23, 2014 After the major headline hogging BRICS summit, the next...
Provisional Rules No. 4-2 on Regulation of Microfinance Companies in the Kyrgyz Republic
(enacted in 2003)
Provisional Rules No. 4-2 on Regulation of Microfinance Companies, issued by the National Bank of the Kyrgyz Republic, regulates the activities of microfinance companies.
These rules provide for:
- Regulation of microfinance companies not engaged in accepting deposits;
- Requirements for microfinance companies applying for license for the right to accept deposits;
- Regulation of microfinance companies engaged in accepting deposits;
- Prudential standards and procedures for microfinance companies that accept deposits; and
- Compliance with procedures for carrying out operations, receipt of deposits, prudential regulations and requirements and submission of information with the National Bank of the Kyrgyz Republic.
DISCLAIMER: Due to the fact that an English translation was unavailable for this regulation, information for this summary has been taken from secondary sources and not from review of the actual legal text.