Regulatory Alerts2022-09-19
Instruction No. 197 on the Procedure for Regulating the Activities of Microcredit Organizations
The National Bank of Tajikistan issued Instruction No. 197 to establish the regulatory framework for microcredit organizations, defining core terms such as credit and microcredit with maximum limits of 250,000 somoni for individuals and 400,000 somoni for legal entities. The regulation mandates a minimum authorized capital of 4 million somoni, outlines strict licensing procedures including account funding and duplicate issuance, and requires comprehensive accounting, internal/external audits, and transparent reorganization processes. It further specifies the documentation requirements for reorganization, conditions for license withdrawal or refusal, and aligns liquidation procedures with Tajikistan’s credit organization laws.
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