of July 30, 2013 No. 167
About guarantee funds in the Kyrgyz Republic
Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 20, 2013
This Law determines legal and economic basis of creation and activities of guarantee funds in the Kyrgyz Republic.
Guarantee fund - the legal entity created in the forms of business provided by this Law for the purpose of increase in availability to subjects of small and medium entrepreneurship of the bank loans aimed by them at business development, expansion - productions, acquisition and upgrade of fixed assets, implementation of new technologies, innovative activities and opening of the new companies, by provision of guarantees (guarantees).
Financial credit institutes - banks, the microfinancial organizations which based on the licenses of National Bank of the Kyrgyz Republic granted by it have the right to perform the banking activities which concluded or intending to sign the agreement on cooperation with guarantee fund and crediting subjects of small and medium entrepreneurship.
Guarantee capital - set of the financial resources consolidated by guarantee fund for ensuring obligation fulfillment of subjects of small and medium entrepreneurship before creditors by provision of guarantees (guarantees).
The obligations of the subject of small and medium entrepreneurship of the obligation of the subject of small and medium entrepreneurship which arose according to credit agreements and conforming to requirements of this Law.
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The document ceased to be valid since May 4, 2019 according to part 5 of article 24 of the Law of the Kyrgyz Republic of April 12, 2019 No. 45