The study of such a broad subject as credit organizations is always relevant, since modern challenges that stagger financial systems of most countries, first of all, fall on the shoulders of the banking system. The global problems of the world community, such as pandemic and other recent geopolitical events that are not directly related to finance primarily defeat the financial system and complicate the process of this system’s activities. Ones of the participants in this system are credit cooperatives and credit unions. The legal nature of these subjects has not been fully studied and at this stage there are different legal assessments of this issue. In Tajikistan the existence of both named entities is legally recognized. However, legal science and practice of some countries do not see any difference between a credit cooperative and a credit union, causing doubts as to simultaneous existence of both mentioned entities. Clarification of this issue requires a deep legal analysis which is the subject of this article. This study covers mainly the Republic of Tajikistan.
Key words: rights, credit cooperatives, credit unions, credit organizations
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