Published
10/30/2025, 18:54Sadyr Zhaparov signed the law ‘On Amendments to Certain Legislative Acts on Banking Legal Relations.’ The document, adopted by the Jogorku Kenesh on 25 September this year, strengthens the responsibility of banks and microfinance organisations for violations in the issuance of consumer loans.
The main innovation of the law is the introduction of a fine of 65,000 KGS (650 calculation indices) for creditors who violate the requirements of consumer lending legislation. This refers to cases where borrowers are charged hidden fees, interest rates are incorrectly stated, or the procedure for disclosing information under the agreement is violated.
In addition, the law gives the National Bank the right to take measures against financial institutions that do not comply with the established restrictions and infringe on consumer rights.
At the same time, the document clarifies the procedure for calculating the maximum interest rate on consumer loans. It is now determined based on the weighted average nominal rate published by the NBR every six months, with an additional 12%. Previously, the surcharge was 15%.
Thus, the law establishes a clear framework for lenders and strengthens mechanisms to protect citizens from excessive rates and unfair practices in the consumer lending market.
