LAW OF THE REPUBLIC OF TAJIKISTAN

of December 26, 2011 No. 782

About modification and amendments in the Law of the Republic of Tajikistan "About banking activity"

Article 1. Bring in the Law of the Republic of Tajikistan of May 19, 2009 "About banking activity" (Akhbori of Majlisi Oli of the Republic of Tajikistan, 2009, No. 5, Art. 331; 2010, No. 7, Art. 555) following changes and amendments:

1. In Article 1:

- from part 1 figure "1". exclude;

- the paragraph one after the word of "transactions" to add with the words "and transactions";

- the third and fourth to state paragraphs in the following edition:

"-credit institutions - legal entities (banks, non-bank credit institutions and the microfinancial organizations) performing all or separate banking activities provided by the law based on the license of National Bank of Tajikistan;

- bank - credit institution which main objective is profit earning which has the authorized capital established by National Bank of Tajikistan and the right of accomplishment at least of three following transactions: attraction of deposits and savings, issuance of credits, opening and maintaining bank accounts;";

- the second offer of the fifth paragraph after the word "establishes" to add with the words "legislation of the Republic of Tajikistan and";

- paragraphs the fourteenth, the fifteenth, the sixteenth, the seventeenth, eighteenth and nineteenth to state in the following edition:

"-the credit - the money provided to the borrower by credit institution on the terms of interest payment and recoverability in certain time;

- the deposit - the money and other values of physical persons and legal entities transferred to storage of credit institution;

- saving - money which right of temporary use is granted to credit institutions on the terms of payment of certain percent;

- residents - the physical persons and legal entities recognized as those according to the Law of the Republic of Tajikistan "About currency control and currency exchange control";

- nonresidents - the physical persons and legal entities which are not residents;

- professionally competent and reliable person - physical person, which:

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