Over 500,000 Kyrgyzstanis to be protected from creditors’ arbitrariness

More than 500,000 Kyrgyz citizens will be protected against arbitrariness of creditors. Secretary General of the Anti-Corruption Business Council (ABC) Nuripa Mukanova announced today at a press conference in 24.kg news agency.

She told that the ABC together with the Parliament have developed a bill to amend the Civil Code, laws on collateral and bank secrecy. The main purpose - the protection of ownership rights from arbitrary seizure of property and increasing the responsibility of the borrowers to the creditors.

Thanks to amendments to the normative legal acts, more than 500,000 borrowers as physical so legal entities will be able to more effectively protect their rights.

ABC suggested MPs first to conduct a deep analysis of the problems, and then decide which amendments to the laws are needed. The analysis of law enforcement practice played an important role there.

"Having studied 8,000 trials for 2014 and 900 cases for 2015, we saw the prevalence of creditor interests above the interests of citizens. There are corruption risks, when one party decides on the basis of its own interests and vision of the situation," Nuripa Mukanova said.