Approved by the Resolution of Board of National Bank of Tajikistan of March 28, 2005 No. 73

The instruction No. 135 "About the Procedure for regulation of activities of the microcredit deposit institutions"

PREFACE

According to article 45 of the Law of the Republic of Tajikistan "About National Bank of Tajikistan", for the purpose of depositor protection and creditors and ensuring financial stability of bank system of the Republic of Tajikistan, the National Bank of Tajikistan establishes the following obligatory economic standard rates for regulation of activities of the microcredit deposit institutions:

1) the minimum size of the authorized capital for the newly created microcredit deposit institutions;

2) capital adequacy ratio,

3) standard rate of liquidity;

4) maximum size of the microcredit;

5) the standard rate of use of own means of the microcredit deposit institutions for acquisition of shares (share) of other physical persons;

6) the maximum loan amount, the guarantees and guarantees provided to the microcredit deposit institutions for the participants (shareholders) and insiders;

7) the standard rate of regulation of transactions on attraction of deposits.

The Microcredit Deposit Institution (MDI) is the commercial organization of microfinancing which performs the activities for attraction of deposits, provision of the microcredits and other activities provided by the Law of the Republic of Tajikistan "About the microfinancial organizations" and performed based on the license of National Bank of Tajikistan.

The minimum size of the authorized capital is determined so:

since January 1, 2005 equivalent of 100 000 US dollars.

The microcredit for the microcredit deposit institutions is determined so:

a) the microcredit shall not exceed the amount, equivalent 20 000 US dollars;

b) the microcredit shall not exceed 1% of the regulatory capital of MDO.

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