Regulatory Alerts2026-05-22 | 132432Methodological Recommendations on Working with Public Officials
The National Bank of the Kyrgyz Republic issued these Methodological Recommendations to establish minimum risk management and internal control requirements for financial organizations interacting with Public Officials (POs). The document mandates enhanced due diligence measures, including senior management approval, source of wealth verification, and continuous monitoring for POs and their close associates to mitigate money laundering and terrorist financing risks. It further outlines procedures for identifying beneficial owners, utilizing information sources, and applying a risk-based approach to transactions involving current and former public officials.
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