LAW OF THE KYRGYZ REPUBLIC

of January 27, 2025 No. 29

About introduction of amendments to the Law of the Kyrgyz Republic "About guarantee funds in the Kyrgyz Republic"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on December 26, 2024

Article 1.

Bring in the Law of the Kyrgyz Republic "About guarantee funds in the Kyrgyz Republic" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2019, No. 4, the Art. 187) the following changes:

1) regarding 1 Article 1:

a) state Item 2 in the following edition:

"2) the client - the legal entity or physical person which is engaged in individual labor or business activity, received commercial financing, budget crediting in the financial and credit organization / international financial institution, or the physical person - the citizen of the Kyrgyz Republic, the received mortgage financing or financing within the state program / project which part is provided with guarantee;";

b) recognize Items 3 and 4 invalid;

c) to add Item 5 after the words "from financial credit institution" with words "/international financial institution";

d) "financial credit institution" to add Item 6 after words with words "/international financial institution";

e) state Item 7 in the following edition:

"7) warranty activities - the activities promoting increase in availability of financing to clients and directed to decrease in part of credit risks of the financial and credit organizations / international financial institutions by provision of guarantees;";

e) state Item 10 in the following edition:

"10) financial credit institutions - banks, non-bank financial credit institutions which based on the licenses (certificates) of National Bank of the Kyrgyz Republic granted by it have the right to perform banking activities, and also JSC National Bank of Development of the Kyrgyz Republic and authorized body on the realization of state policy in the field of budget crediting which signed the agreement on cooperation with guarantee fund;";

g) add with Item 10-1 of the following content:

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