Regulatory Alerts2022-10-05 | 118614On the Minimum Size of the Authorized Capital of Non-Bank Financial and Credit Organizations
The National Bank of the Kyrgyz Republic issued this Resolution to establish and phase in minimum authorized capital requirements for non-bank financial and credit organizations, including microfinance companies, microcredit companies, credit unions, housing savings credit companies, and guarantee funds. The mandate sets baseline capital thresholds for newly established entities effective July 2023 and mandates existing organizations to progressively increase their capital through staged deadlines extending from October 2023 to October 2027. Organizations with capital below the new thresholds must submit compliance plans by November 2022, while specialized financial institutions face a unified minimum capital floor of 300 million soms starting in 2025.