Pawnshops were inspected in Karakol, and 16 of them were sealed as a result

During the investigation, it was established that some pawnshops do not comply with the requirements of the Law of the Kyrgyz Republic ‘On the Activities of Pawnshops’ and the Regulations ‘On the Minimum Requirements for the Organisation of Pawnshop Activities in the Kyrgyz Republic’.

As a result of the measures taken, 16 pawnshops were sealed, and inspections of the remaining pawnshops are continuing.

At the same time, in order to prevent the overstatement of established interest rates (not higher than 30%) and to ensure strict compliance with the Law of the Kyrgyz Republic ‘On Restricting Usury’ No. 163 of 24 July 2013, explanatory work was carried out with the owners and employees of pawnshops.

At the same time, the State Committee for National Security of the Kyrgyz Republic asks citizens to be vigilant and carefully study the documents they sign when applying for loans and other documents related to property. In addition, in the event of fraudulent or other illegal actions on the part of pawnshop employees (including those related to the forced seizure of pledged property), we recommend contacting the State Committee for National Security of the Kyrgyz Republic in the Issyk-Kul region.