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SCNS comments on search in microcredit companies in Bishkek

The State Committee for National Security of Kyrgyzstan (SCNS) is checking the activities of large individual microcredit organizations in connection with complaints received from borrowers. The press center of the state committee reported.

According to it, an inspection has been launched to check for non-compliance with interest rates when lending to individuals and legal entities (no more than 33 percent per annum).

Citizens also complained about violations of the procedure for providing loans to individuals and legal entities (there are facts of splitting in order to circumvent the requirements for the maximum loan amount), providing false information (reports) to regulatory authorities in order to evade mandatory payments.

The state committee reminds that violation of the requirements of regulatory legal acts in the field of lending to individuals and legal entities entails criminal and other liability.

It was reported earlier that the SCNS was conducting searches in the offices of several microcredit companies in Bishkek.

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