Regulatory Alerts2018-08-15 | 131790Regulation on Minimum Requirements for Credit Risk Management in Microfinance Organizations Not Attracting Deposits
The National Bank of the Kyrgyz Republic issued this Regulation to establish minimum requirements for credit risk management systems in microfinance organizations that do not attract deposits. The document mandates the development of internal policies, defines key terms including Islamic finance principles, and sets specific rules for remote lending, consumer credit affordability, and credit information exchange. It further requires rigorous monitoring, classification of assets, and reserve formation to mitigate risks and ensure responsible lending practices.
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