The maximum microloan amount that may be disbursed to one individual by microcredit company shall not exceed six percent of the minimum charter capital amount stipulated by the National Bank for a newly established microcredit company. The minimum amount from now on constitutes at least KGS 5 mln.

Such a decision was made by Board of the National Bank of Kyrgyzstan. Amendments and supplements into some of the legal regulations of the NBKR, regulating the activities carried out by microfinance institutions, are introduced by a relevant decree.

The decree has come into force from August 4, 2012 and applies to all microcredit companies and microcredit agencies in the country. As of July 31, 2012 the number thereof constitutes 413.

In this connection FINCA company has issued an internal order to limit maximum loan amount in individual lending. In addition, a set of measures is being developed, which is to enable to increase loan portfolio through the introduction of products within the range of KGS 300,000. In particular, new credit products, new conditions on existing products and other financial solutions will be offered. The details will be available in the nearest future.