of November 6, 2024 No. 671
About modification of some decisions of the Government of the Kyrgyz Republic and the Cabinet of Ministers of the Kyrgyz Republic about questions of lombard activities
According to article 5 of the Law of the Kyrgyz Republic "About modification of some legal acts of the Kyrgyz Republic in the field of lombard activities", articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:
1. Bring in the order of the Government of the Kyrgyz Republic "About questions of lombard activities" of June 8, 2017 No. 353 the following changes:
in the Regulations on the minimum requirements to the organization of activities of pawnshops in the territory of the Kyrgyz Republic approved by the above-stated resolution:
- add Item 10 with the paragraph of the following content:
"-provide to the borrower information on the size of annual effective interest rate of loan which shall be open available to the borrower and cannot be subject of trade secret.";
- add Item 11 with paragraphs the ninth or eleventh the following content:
"-unilaterally to change and supplement terms of the contract of loan if it worsens the rights and/or increases the borrower's obligations;
- exceed the size of maximum permissible annual effective interest rate of loan of pawnshop established by the legislation of the Kyrgyz Republic on activities of pawnshops and on restriction of usurious activities proceeding from the weighted nominal interest rate determined by National Bank of the Kyrgyz Republic to which 12 percent are added. Calculation of annual effective interest rate of loan of pawnshop is made according to appendix 4 to this Provision;
- transfer to credit bureau any data according to the loan agreement and about the borrower, except for the data of the loan agreement in which the loan amount exceeds 200000 som.";
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