Article 12. Formation of the authorized capital of a microfinance organization The Law on Microfinance Activities

Home / RLA / Article 12. Formation of the authorized capital of a microfinance organization The Law on Microfinance Activities

1. The founders of a microfinance organization are required to pay in full the minimum amount of the authorized capital of the microfinance organization being created by the time of its state registration (re-registration).

2. The minimum amount of the authorized capital of a microfinance organization is established by a regulatory legal act of the authorized body.

3. The authorized capital of a microfinance organization is formed exclusively in money in the national currency of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated November 26, 2012 No. 56-V.

This Law regulates public relations related to the provision of micro-loans, establishes the specifics of the creation and reorganization of organizations engaged in microfinance activities, the legal status, activities of organizations engaged in microfinance activities, and also defines the specifics of state regulation of organizations engaged in microfinance activities, control and supervision of their activities.

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