Tajikistan Law on Microfinance Organizations

Regulating legal and organizational grounds for microfinance activity and the microfinance market
Download 17 pages

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;
    • Confidentiality;
    • Settlement of disputes, etc.

About this Publication

By Republic of Tajikistan