Tajikistan Law on Microfinance Organizations
Regulating legal and organizational grounds for microfinance activity and the microfinance market
This law regulates the legal and organizational grounds for microfinance activity with a view to form and develop the market of microfinance services and entrepreneurship in the Republic of Tajikistan .It is divided into 10 chapters that discuss:
- General provisions, such as:
- Basic terms;
- Relations of the microfinance organizations (MOs) with the State and the National Bank of Tajikistan.
- The founding of an MO, including:
- Necessary documents, name and branches;
- The reorganization, liquidation and state registration of an MO.
- Statutory capital, property and interest rates on micro loans, and:
- Relations between MOs and clients.
- The licensing of microcredit deposit organizations (MDOs) and (MOs) as well as:
- Grounds for denial/cancellation of a license.
- The operations of microcredit deposit organizations, including:
- Qualification requirements of senior executives;
- Methods to avoid conflicts of interest;
- Procedures for share transfer.
- The regulation and supervision of MDOs, specifying:
- The supervisory body;
- Its methods of supervision.
- The procedures of accounting and reporting, including:
- The submission and publication of reports.
- The procedure of certification of a an MO, including:
- Documents necessary;
- Grounds for denial of a certificate.
- The differences between the operations of micro lending organizations and micro lending foundations;
- Closing provisions, such as:
- The audit;
- Settlement of disputes, etc.
About this Publication