The agency notes that this initiative is aimed at "cleaning" the market of participants who are not ready to operate transparently.
According to the established schedule, the minimum charter capital will gradually increase:
- from January 1, 2025 — at least 3,000,000 soms (this norm has already been implemented),
- from July 1, 2026 — 7,000,000 soms,
- from July 1, 2027 — 14,000,000 soms,
- from July 1, 2028 — 20,000,000 soms.
According to agency representatives, these changes will fundamentally alter the rules of the game in the market. Previously, pawnshops could operate with minimal resources, but now the capital requirements will be different: it must be sufficient for companies to manage risks and fulfill obligations to clients, while avoiding dubious practices to compensate for a weak financial base.
The State Financial Supervision Agency states that these measures are not directed against honest market participants. "Most likely, this will serve as a kind of filter: those who are not ready to increase capital and operate according to established standards will be forced to leave the market. It is expected that as a result of consolidation, more stable players will remain, who will be able to implement internal control and comply with disclosure requirements," the agency's release states.
The increase in minimum capital is accompanied by other new restrictions and requirements, such as a ban on unilateral deterioration of contract terms, limitations on data transfer to credit bureaus, and stricter transparency of loan terms. All these measures are aimed at restructuring the industry: fewer "quick schemes" and more understandable standards.
For clients, the meaning of the reform is clear: increasing the stability of companies will reduce the incentive to profit from hidden fees and disputed charges. For businesses, this is also a signal to prepare for changes expected in 2026–2028, as capital requirements will only become more stringent.
