LAW REPUBLIC OF TAJIKISTAN

of May 17, 2004 No. 38

About the microfinancial organizations

This Law regulates legal and organizational basis of microfinancial activities for the purpose of forming and market development of microfinancial services and entrepreneurship in the republic.

Chapter 1. General provisions

Article 1. Basic concepts

In this Law the following basic concepts are used:

the deposit - the money placed in the microcredit deposit institution by physical persons and legal entities which can be struck off the register by the organization on demand or on the expiration without percent or with percent;

the microcredit - the money provided by the microcredit deposit institution to the borrowers on the terms of urgency, recoverability and the paid nature in the amount of, not exceeding the maximum permissible size of the microcredit.

microloan - the money or things determined by patrimonial signs, provided by the microloan organizations to borrowers on the terms of urgency, recoverability, and in the cases provided by the agreement and the paid nature, in the amount of, not exceeding the maximum permissible size;

the microfinancial organization - the microcredit deposit institution, the microloan organization and microloan fund;

the microcredit deposit institution - the commercial microfinancial organization performing the activities for attraction of deposits, provision of the microcredits and other activities provided by this Law and performed based on the license;

the microloan organization - the commercial microfinancial organization performing activities based on the license and providing microloans and other services;

microloan fund - the non-profit microfinancial organization performing the activities based on the certificate granted by National Bank of Tajikistan and providing microloans and other services;

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