Approved by the Resolution of Board of National Bank of Tajikistan of March 28, 2005 No. 78

Regulations No. 137 on microloan funds

This Provision is developed according to Articles 4, of 32, of the Law of the Republic of Tajikistan "About the microfinancial organizations" and determines procedure for creation and regulation of activities of microloan funds in the Republic of Tajikistan.

Chapter 1. General provisions

1.1. In this Provision terms and concepts are used in the following value:

Group - group of the physical persons which united based on the contract for the purpose of provision to group of opportunity to borrow means of microloan fund members of Group could borrow money in microloan fund through Group. The group itself cannot carry out other business activity except for of monitoring and supervision over microloans which are distributed between members of this Group, and over method of providing and payment of these microloans;

Microloan - the money or things determined by patrimonial signs, provided by microloan funds 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 of microloan established by this Provision.

Investments - investment of money (other assets) in the capital or debt obligations of legal entities, including placement of money in other financial organizations.

Debt obligation - any obligation on payment of certain sum of money irrespective of the fact how there was this obligation or what document provides.

Chapter 2. Creation of microloan fund

2.1 The microloan fund is created in the form of public fund, according to the procedure provided by regulatory legal acts of the Republic of Tajikistan and this Provision.

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