As a result of the inspection, serious violations were identified concerning the law "On the Activities of Pawnshops" and the requirements for organizing their operations. In particular, some pawnshops accepted as collateral documents such as civil passports, birth certificates, and state acts of private property rights.
As a result of the conducted activities, 16 pawnshops were sealed, and inspections of other institutions are ongoing. Additionally, the SCNS conducted explanatory work with the owners and employees of pawnshops regarding the necessity to comply with the established limits on interest rates, which should not exceed 30% in accordance with the law "On the Limitation of Usury Activities" (No. 163 dated July 24, 2013).
Citizens are recommended to carefully review all documents when applying for loans. In case of detecting unlawful actions by pawnshop employees, one should contact the SCNS Office for the Issyk-Kul region at the phone number: (03922) 5-11-80.
