Kyrgyzstan Parliament Acts on Loan Fraud and Temu Complaints

Kyrgyzstan's Parliament Tackles Fraudulent Loans and Temu Complaints BISHKEK, Kyrgyzstan – The Kyrgyz Republic is taking steps to protect its citizens from financial fraud and address concerns about online marketplaces. The Committee of the Jogorku Kenesh (parliament) recently approved a bill in its first reading that allows individuals to self-ban from taking out loans. This measure aims to prevent unauthorized loan applications by fraudsters. "This is a crucial step to protect our citizens from those who would exploit them," said a parliament member involved in the bill's passage. The bill's passage follows a wave of complaints regarding the online marketplace Temu. MP Sharafatkan Majitova highlighted the issue, stating, "Kyrgyz citizens are reporting mass problems with Temu. They order goods online, but frequently receive nothing." She urged the consideration of a law to regulate such platforms, ensuring accountability and consumer protection. The parliament's action on both the loan bill and the call to regulate online marketplaces demonstrates a commitment to protecting citizens' financial well-being and addressing emerging challenges in the digital economy.