In Kyrgyzstan, individuals who find themselves on the banks' "blacklist" will be able to resume receiving loans after three years. This bill was approved in the first reading by the Committee of the Jogorku Kenesh on Finance, Budget, Entrepreneurship, and Competition Development.
The main goal of the document is to simplify citizens' access to loans and promote financial inclusion. In particular, it is proposed to reduce the retention period for negative credit information from five to three years.
Additionally, the bill stipulates that the negative credit history of borrowers with loans up to 10,000 soms will be removed after one year.
The adoption of these amendments is expected to reduce the financial burden on borrowers, simplify access to bank loans, and create a more favorable environment for the development of small and medium-sized businesses.
