Secured transactions law in Kyrgyzstan is partly governed by the Civil Code, and partly governed by the Law on Pledge, established on the 12th of March 2005 by government decree number 49. This decree repealed the 1999 Mortgage Law and the 1997 Pledge Law.

Since 2005, there have been a number of amendments. Firstly, in February 2007, the Civil Code was amended to introduce new provisions allowing for out-of-court enforcement of security rights. In 2009, the Civil Code was amended again to reduce the formalities required for the creation of security interests. This amendment allowed for a security interest to be created by merely providing a general description of the asset to be used as security and a general description of the obligations. Under the current framework, pledges can be created over movable property, future assets and fluctuating pools of assets. Registration of movable security interests is centralised, in Single Pledge Registry. However, this is not available online.

Click Here to Access Decree Number 49 (English Translation)

Click Here to Access the Civil Code in English (Paid Access)