Loan-Sharks Fill Credit Gap

Getting a bank loan is so long and complex a process in Kyrgyzstan that many people turn to private lenders, without thinking of the risks.

Loan-Sharks Fill Credit Gap

Getting a bank loan is so long and complex a process in Kyrgyzstan that many people turn to private lenders, without thinking of the risks.

Thursday, 11 June, 2009
IWPR

IWPR

Institute for War & Peace Reporting

Jyldyz Joroeva reports on cases where people have signed up to loans on huge compound interest rates and are unable to pay them back.



A private loan agreement is only valid if it is signed in the presence of two witnesses, or is notarised.

Kyrgyzstan
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