Regulatory Alerts2024-02-14 | 127684Regulation on Requirements for Formation, Publication, and Submission of Financial Reporting by Non-Bank Financial Credit Organizations Operating According to Islamic Principles
The National Bank of the Kyrgyz Republic issued this regulation to establish mandatory financial reporting standards for non-bank financial credit organizations operating under Islamic banking principles. The document mandates that these entities prepare and publish financial statements in accordance with AAOIFI standards, ensuring transparency through specific components like Shariah Council reports and consolidated group data. It further defines strict deadlines and publication channels for both annual and quarterly reports to ensure accessibility for stakeholders and regulatory oversight.
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