Credit "Bovari"

      The Bovari loan program is a type of loan in foreign currency, which is provided only to legal entities, i.e. Organization’s clients. As collateral for a loan, the amount in national currency somoni in proportion to the amount of the requested loan is stored on the client’s account as collateral. The main purpose of this credit program is to facilitate the prompt fulfillment of sometimes financial obligations of clients.

Individual small loan.

1. Loan currency

2. Form of financing

3. Interest on the loan

US dollars and others (foreign currency)

Cashless payments

The first level ranges from 12% to 20% per annum.

The second level ranges from 12% to 15% per annum.

4. The amount of debt to legal entities

– in foreign currency in the amount of up to 44,000 US dollars.

5. Loan term

from 1 to 12 months:

6. One-time administrative interest for granting a loan

does not stop

7. Loan repayment and interest

annuity (monthly, with an equal share as a percentage). monthly payment of interest with repayment of the principal debt as agreed with the client. Based on the payment schedule, the loan amount, together with interest, is paid from the client’s account in foreign currency by bank transfer.

8. In case of early repayment of the loan

The borrower is not charged a penalty; the borrower must notify the management of the Organization in writing or orally 5 working days in advance of the early repayment of the loan.

9. Loan security

The balance on savings accounts of clients in the national currency somoni, correspondingly equal to the amount of the requested loan, is arrested and kept as collateral.

10. Deadline for consideration of the application

up to five working days after the registration of the loan application.

11. Exceptions
The loan amount may, with the consent of the credit committee, exceed or reduce the requirements of part 4. Exception – In the absence of one of the supporting documents on the client’s activities, it is recommended to draw up a pledge agreement for the farmer’s movable property or other pledged property.

12. Documents required for the Borrower:

• Passport (copy of passport) and copy of TIN;

• Certificate of residence and family composition; (for borrowers mortgaging their homes);

• Income certificate Other documents confirming the income of the borrower’s family for the last 6 or 12 months;

• Application – an application for a loan;

• Documents confirming the ownership of the pledged property, the consent of adult family members;

• Consent of the spouse of the borrower (if he is married or has a mortgage);

• If the borrower is a legal entity, submits the balance sheet for the last financial period approved by the tax committee, the charter, work plan and constituent documents;
• certificate or patent of the entrepreneur;
• Certificate of residence (upon request of a loan officer).

13. Additional requirements:

• The loan is granted taking into account the applicant’s annual income and other income in the amount of 60% of the applicant’s total income;

• The borrower is granted a grace period based on the borrower’s application and loan officer’s proposal;

• In the case of a pledge of gold jewelry or movable and immovable property, a loan is issued to the borrower after registration of the pledged property in accordance with the requirements and norms of the organization and the current legislation of the Republic of Tajikistan.

After a positive decision of the credit committee on a loan agreement, a property pledge agreement or a surety agreement, a loan is issued to the borrower.