Paper
Temporary Rules for Regulations of Activity of Microfinance Companies in Kyrgyz Republic
A set of guidelines for the development of microfinance organizations
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5 pages
This paper states that the present Temporary Rules in the Krygz Republic have been developed in accordance with the functions and goals assigned to the National bank of Kyrgyz Republic (NBKR) by the law.The paper discusses the:
- General provisions of the rules:
- The NBKR establishes the economic norms mandatory for execution by microfinance companies (MFC) with the purpose of maintaining the steady development of microfinance organizations and the trust of the population in their activity;
- The basic activity of MFCs to be micro crediting with the purpose of overcoming poverty and increasing employment and entrepreneurship.
- The economic norms and requirements mandatory for the MFCs to follow.
- The economic acts and requirements for MFCs that do not attract deposits, including:
- Minimum size of the fully paid authorized capital;
- Maximum size of risk of one borrower;
- Adequacy of the capital;
- Liquidity;
- Maximum size of the individual unsecured credits, etc.
- Economic norms and requirements for MFCs that attract deposits.
- The order of observance of the economic norms and other requirements and information submission to NBKR.
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