In Parliament, the Issue of High Interest Rates in Kyrgyzstan's Commercial Banks Was Raised

Юлия Воробьева Politics
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During the meeting of the Jogorku Kenesh, where amendments to the Law "On the Exchange of Credit Information" were discussed, some deputies drew attention to the high interest rates applied by commercial banks when providing loans.

Kubanychbek Samakov, a member of parliament, pointed out that state institutions attract funds from international financial organizations at low rates, but banks pass these funds on to citizens at significantly higher rates.

“We observe agreements where the rate is 1 percent, but when it comes to citizens, it already reaches 20 percent. Why is this happening, and what measures is the government taking to reduce this gap?” — the deputy asked.

Another parliamentarian, Yrysbek Atazhanov, also noted that in some commercial banks, interest rates on loans reach 25-30 percent. He inquired whether the National Bank could impose limits on the maximum rate that can be set for loans.

In response, the Deputy Chairman of the National Bank, Medet Tairov, stated that the issue is already under discussion with the government.
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