Regulatory Alerts2017-06-08 | 112535Regulation on Temporary Administration
The National Bank of the Kyrgyz Republic issued this Regulation to establish a comprehensive legal framework for appointing and operating Temporary Administrations over banks, payment organizations, and related financial entities. It mandates the suspension of existing management powers, halts debt accruals and profit distributions, and transfers all operational and legal authority to a qualified Temporary Administrator for an initial period of up to six months. The framework further defines strict qualification criteria, conflict-of-interest safeguards, reporting obligations, and civil liability protections to ensure system stability and depositor rights during restructuring.
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