Kyrgyzstan citizens use voluntary loan restrictions to combat fraud

Over 300,000 people in Kyrgyzstan used a voluntary credit restriction service during its first year of implementation.

The National Bank of the Kyrgyz Republic launched the state service to help residents limit their ability to take out loans from financial institutions. The bank introduced this tool specifically to address a rise in fraud, particularly regarding online loans. People can activate the protection for free by using the Tündük mobile application to select a credit bureau and submit a request.

The service currently maintains an active status for 200,100 people. While the system prevents unauthorized lending, people must submit a new application to remove the restriction, a process that takes up to 12 hours to complete. If a person connects their restriction to multiple credit bureaus, they must repeat the withdrawal process for every individual bureau.