Regulatory Alerts2021-12-29 | 131861Regulation on Minimum Requirements for Pricing Policies of Banks, Payment Service Providers, and Microfinance Organizations and Marketing Activities
The National Bank of the Kyrgyz Republic issued this regulation to establish minimum requirements for pricing strategies and marketing activities of banks, payment operators, and microfinance organizations. It mandates that financial institutions adopt formalized pricing policies approved by their governing bodies, ensuring transparency, risk-weighted justification, and compliance with antimonopoly and consumer protection laws. The document further restricts marketing practices by prohibiting political advertising, lotteries, and misleading information, while requiring strict disclosure of costs and client consent for promotional materials.
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