Regulatory Alerts2012-09-12 | 130021Instruction on the Provision of Individual Bank Safes for Value Storage by Commercial Banks of the Kyrgyz Republic to Clients
The National Bank of the Kyrgyz Republic issued this Instruction to establish minimum operational, security, and compliance requirements for commercial banks providing individual safe deposit services to clients. The document mandates strict internal controls, standardized storage agreements, comprehensive client identification procedures to prevent money laundering, and detailed protocols for safe access, lock management, and confidential handling of contents. It further outlines mandatory prohibitions on hazardous or illegal items, accessibility accommodations for persons with disabilities, and precise legal procedures for vault opening, seizure, and contract termination.
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