Regulation No. 5-1 on Licensing, Reorganization and Liquidation of Microfinance Companies
(enacted in 2007)
Regulation No. 5-1 on Licensing, Reorganization and Liquidation of Microfinance Companies, issued by the National Bank of the Kyrgyz Republic, governs the creation and licensing of microfinance companies.
This regulation includes:
- General provisions;
- Procedures for establishment of microfinance companies;
- Features of licensed microfinance companies;
- Documents to obtain a license from the National Bank of the Kyrgyz Republic;
- Procedure for obtaining more than 20% of voting shares of a microfinance company;
- Requirements for opening branches and representative offices;
- Grounds for denial of license;
- Approval of amendments and additions after obtaining license; and
- Reorganization and liquidation of microfinance companies.
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.