Regulatory Alerts2023-12-06 | 117309On the Minimum Size of the Authorized Capital of a Credit Bureau
The Board of the National Bank of the Kyrgyz Republic has established a minimum authorized capital of 50,000,000 som for newly created credit bureaus. Existing credit bureaus are required to gradually increase their capital to 10,000,000 som by January 1, 2025, 30,000,000 som by January 1, 2026, and 50,000,000 som by January 1, 2027. Non-compliant entities must submit a compliance plan to the National Bank by July 1, 2024, while bureaus applying for registration before this decree's enactment must adhere to the new capital requirements immediately.
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