Regulatory Alerts2023-03-06
Instruction No. 253 on Qualification Requirements for Founders and Managers of Credit Bureaus
The National Bank of Tajikistan issued Instruction No. 253 to establish strict qualification requirements for the founders and managers of Credit Bureaus (CB). The regulation mandates that CB managers possess higher economic or IT education with at least three to five years of relevant experience, while founders must demonstrate impeccable professional reputation, financial stability, and exclusion from state or public sector representation. It further details comprehensive data submission protocols, including background checks for bankruptcy history, money laundering involvement, criminal records, and close relatives, supported by standardized declaration forms in Appendices 1 and 2.
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