According to the new draft, the minimum capital requirements for pawnshops will be significantly increased:
- from January 1, 2025 – at least 3 million soms;
- from July 1, 2026 – at least 7 million soms;
- from July 1, 2027 – at least 14 million soms;
- from July 1, 2028 – at least 20 million soms.
It is expected that such measures will lead to the cleansing of the market from small and unreliable players who often violate the rules of working with collateral and pose risks to clients.
Additionally, the resolution introduces a new Regulation on Minimum Requirements for Pawnshop Activities, which defines operational standards, the procedure for transaction documentation, rules for asset storage, and reporting. The obligations to comply with laws related to anti-money laundering and counter-terrorism financing are also expanded.
At the same time, a number of old regulatory documents, starting from resolutions in 2017 and ending with amendments adopted in 2022-2025, will be repealed. This will create a unified legal framework for the regulation of pawnshops.
Entities engaged in pawnshop activities have been given six months to align their operations with the new requirements.
Earlier, the chairman of the State National Security Committee, Kamchybek Tashiev, instructed a comprehensive inspection of all pawnshops in the country. During the inspections, both financial reporting and the legality of collateral transactions, as well as compliance with safety standards, will be thoroughly examined.
