Regulatory Alerts2011-09-14 | 130019Regulation on Banks' Operations with Securities
The National Bank of the Kyrgyz Republic issued this Regulation to establish the legal framework, reporting requirements, and internal control standards for commercial banks and microfinance companies conducting securities operations. It mandates that the Board of Directors and Management assume direct responsibility for compliance, risk management, and the approval of investment policies, while explicitly including Islamic banking principles where applicable. The document enforces strict segregation of front-office and back-office functions, detailed due diligence for acquisitions, and comprehensive record-keeping to ensure market transparency and mitigate financial risks.
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