National Bank of the Kyrgyz Republic amends rules to enforce customer self-bans on entering credit agreements

The National Bank of the Kyrgyz Republic has adopted amendments to several of its regulatory legal acts to align them with recent legislative changes on the exchange of credit information and the introduction of a customer self-ban on concluding credit transactions. The changes establish a mechanism for individuals to independently set or remove a self-ban on entering into credit agreements via the Kyrgyz Republic’s state electronic services portal. Banking service providers must request information on whether a self-ban is in place when concluding a credit agreement and must refuse to enter into a credit agreement if the client has an active self-ban. The resolution has been published on the National Bank’s website.