Regulatory Alerts2024-12-18
Instruction No. 255 on the Procedure for Issuing Loans and Accruing Interest in Credit Organizations
The National Bank of Tajikistan issued Instruction No. 255 to standardize the procedure for issuing loans and accruing interest across all credit organizations, including banks, non-bank entities, and microfinance institutions. The regulation mandates strict documentation, electronic record-keeping, and the establishment of head office credit committees to oversee lending limits, risk assessment, and collateral valuation. It further enforces transparent pricing through mandatory disclosure of both nominal and effective annual interest rates, while defining precise timelines for application review, contract execution, and client notification.
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