The draft law strengthens legal norms, stipulating protection of interests of creditors in pledge relations and harmonization of some norms of legislation. In particular, the draft law harmonizes separate clauses of the Law “On execution of judicial acts and acts of other bodies”, Civil Code, Law “On mortgage”, etc.

MPs underlined that the pledge plays special importance for developing and functioning of financial-credit system, which mobilizes free resources of population and legal entities. The draft law’s adoption will help to develop pledge relation and support businesses.

MPs passed the law and directed it to approved to Senate of Oliy Majlis.