According to the proposed changes, the storage periods for the credit histories of citizens of Kyrgyzstan will be significantly reduced: negative information will now be stored for only two years instead of five, while positive information will be kept for five years instead of seven.
This draft law aims to simplify citizens' access to loans, which in turn should reduce the burden on the banking system and promote the development of small and medium-sized businesses.
As reported by Deputy Minister of Economy Benazir Nurlanova, "We propose to reduce the storage period for negative credit histories to two years and for positive ones to five, taking into account the suggestions of the deputies."
She also emphasized that these changes are intended to improve legislation in the field of credit information and create more comfortable conditions for borrowers who previously faced long-term restrictions due to unmet obligations.
The committee approved this draft law without discussion in the third reading.
