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At least 200,000 loans for 80 bln soms restructured since March in Kyrgyzstan

Financial and credit organizations have restructured about 200,000 loans for a total amount of more than 80 billion soms since March in Kyrgyzstan. The National Bank informed 24.kg news agency, commenting on credit amnesty demands.

The National Bank, within the framework of its powers, is taking all measures to smooth out the negative consequences of the pandemic and the related restrictions for entrepreneurs and the population. Since March 18, on the recommendation of the National Bank, all financial and credit organizations of the country have granted deferrals for loan payments to borrowers who applied, both for the principal amount of the loan and for accrued interest separately or together.

The National Bank has banned commercial banks and non-banking financial institutions from imposing fines, penalties on borrowers for failure to fulfill / improper fulfillment of loan obligations.

It is forbidden to charge and collect commission fees and other payments related to the revision of the terms of loan agreements; include in negative credit information, information on overdue payments on loans.

«The National Bank is working with commercial banks and credit organizations on an ongoing basis. Clarifications are given on the need for them to actively work with clients to explain in detail the conditions for restructuring loans and accrued interest on them, as well as the rights of borrowers to repay loans ahead of schedule,» the National Bank said.

«If you have any questions about granting a deferral for loan payments, the borrower should, first of all, contact credit organization, since disputes arising from civil contracts should be resolved through negotiations between the parties, and if the parties could not come to an agreement — judicially. In case of any questions or complaints to the credit institution, the borrower can contact the National Bank,» the bank concluded.

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