In Kyrgyzstan, the storage period for negative credit history will be reduced from 5 to 2 years

Сергей Гармаш Politics
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In Kyrgyzstan, a significant reduction in the storage periods for credit information is planned. Negative data will be stored for only 2 years instead of the previous 5, while positive information will decrease from 7 to 5 years. This draft law "On the Exchange of Credit Information" was approved by the relevant committee of the Jogorku Kenesh at a meeting held on March 2.

The proposed changes will improve citizens' access to loans, reduce the burden on the banking sector, and support the development of small and medium-sized businesses.


The initiator of this draft law was the Chairman of the Cabinet of Ministers. The Deputy Minister emphasized that these changes are aimed at improving legislation in the field of credit information and creating more favorable conditions for borrowers who previously faced difficulties due to debt obligations.
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