of October 28, 2025 No. 237
About consumer loan
Accepted by Jogorku Kenesh of the Kyrgyz Republic on September 25, 2025
1. The purpose of this Law is regulation of the relations connected with provision and return of consumer loan and also establishment of the rights and obligations of participants of such relations.
2. This Law is directed to protection of the rights and legitimate interests of borrowers, ensuring transparency and comparability of terms for crediting, the prevention of excessive debt load, prevention unfair the practician, and also stimulation of responsible crediting.
3. This Law is not applied to the acquisition loans, construction or completion of the residential real estate provided with the real estate, except as specified, directly provided by this Law.
4. Operation of this Law extends to banks and the non-bank financial credit institutions, persons under surveillance to National Bank of the Kyrgyz Republic (further - National Bank) including performing transactions by the Islamic principles of financing taking into account the specifics and features provided by the regulatory legal acts of the Kyrgyz Republic regulating the Islamic principles of banking and financing granting consumer loans.
5. Requirements of this Law extend also to the relations connected with provision of consumer loan including cases when the loan is granted for payment of goods, works or services. The provisions of the laws regulating questions of crediting, the Islamic principles of financing and payment by installments (delay) of execution of monetary commitment on payment of goods, works or services are applied in the part which is not settled by this Law and requirements of the bank law.
By the bank law of the Kyrgyz Republic additional requirements to regulation of consumer loans can be established.
1. For the purposes of this Law the following basic concepts are used:
1) annual effective interest rate - interest rate in reliable, annual, effective, comparable basis when which calculating the payments of the client connected with receipt of consumer loan are considered;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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