Regulatory Alerts2022-09-19
Instruction No. 198 on the Procedure for Regulating Microcredit Funds
The National Bank of Tajikistan issued Instruction No. 198 to establish the regulatory framework for microcredit funds, covering licensing procedures, loan limits, accounting standards, and reorganization requirements. The regulation defines microloans with maximum caps of 250,000 somoni for individuals and 350,000 somoni for legal entities, while mandating annual external audits and strict reporting to the central bank. It further outlines the consent-based merger and accession process, specifying required documentation, rejection criteria such as bankruptcy indicators, and the liquidation procedure aligned with national credit organization laws.
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