RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of May 29, 2012 No. 21/1

About activities of the microfinancial organizations

For the purpose of prevention of cases of failure to carry out by the microfinancial organizations of requirements of article 2 of the Law of the Kyrgyz Republic "About the microfinancial organizations in the Kyrgyz Republic" (further - the Law), determining that the purpose of the microfinancial organizations is rendering available services in microfinancing for overcoming poverty, increase in the employment level, assistance to development of entrepreneurship and social mobilization of the population of the Kyrgyz Republic, and also for the purpose of increase in trust of society to the microfinancial organizations of the Kyrgyz Republic, the licensed and regulated National Bank of the Kyrgyz Republic, preserving stable financial system, maintenance and protection of consumer interests of services of the microfinancial organizations, according to Articles 7, 43 Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", Articles 2, of 5, 35 Laws of the Kyrgyz Republic "About the microfinancial organizations in the Kyrgyz Republic", The board of National Bank of the Kyrgyz Republic decides:

1. To the microfinancial organizations (microfinance companies, the microcredit companies and the mikrocreditny agencies) to be guided in the activities by the purpose of implementation of available services in microfinancing for overcoming poverty, increase in the employment level, assistance to development of entrepreneurship and social mobilization of the population of the Kyrgyz Republic determined by the Law of the Kyrgyz Republic "About the microfinancial organizations in the Kyrgyz Republic" and to open measures for realization of the purpose in the charters and credit policies.

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