Over the past five years, 111 pawnshop licenses have been revoked in Kyrgyzstan, 11 licenses have been suspended, and total fines imposed have amounted to 8,414 million soms. The Financial Market Regulation and Supervision Service reported.
The agency summarized the results of a five-year reform of the pawnshop sector, aimed at protecting consumer rights, reducing household debt burdens, and bringing the market out of the shadow economy.
Since May 2024, a legislative cap on the annual interest rate has been introduced under the formula «National Bank rate + 12 percent.» In practice, this has reduced loan costs to around 30 percent per annum, eliminating cases where loans were issued at rates of 100–300 percent.
A ban has also been introduced on transferring borrower data to credit bureaus for loans under 200,000 soms. This measure protects personal data and prevents deterioration of citizens’ credit histories due to small consumer loans. In addition, the Cabinet of Ministers has prohibited pawnshops from unilaterally changing contract terms if such changes increase clients’ obligations.
The regulator has tightened requirements for internal controls and the assessment of clients’ solvency. Special oversight is now focused on safeguarding pledged property and preventing unlawful retention of assets. Pawnshops are required to implement risk management systems, and the Financial Market Regulation and Supervision Service has shifted to risk-based supervision.
To consolidate the market, a phased schedule for increasing capital requirements has been introduced. As of January 1, 2025, the minimum capital requirement is 3 million soms; by July 2026 it will rise to 7 million, by 2027 to 14 million, and by July 2028 it should reach 20 million soms.
Financial Market Regulation and Supervision Service
As of February 25, 2026, a total of 383 pawnshops are officially operating in Kyrgyzstan.
