Regulatory Alerts2020-12-23 | 131792Regulation on Enforcement Measures Applied to Non-Bank Financial and Credit Organizations and Other Legal Entities Supervised by the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this Regulation to establish a comprehensive framework for applying enforcement measures—including directives, fines, requirements, restrictions, and license revocations—to non-bank financial and credit organizations (NFKOs) and other supervised legal entities. The document mandates prompt supervisory intervention, defines nine specific enforcement tools, and outlines procedures for identifying unsound banking practices, imposing financial rehabilitation plans, and enforcing voluntary undertakations. It further standardizes penalty calculations, audit requirements, administrative cost reductions, and structural adjustments to ensure NFKO stability, protect depositors, and mitigate systemic risks within the Kyrgyz banking sector.