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2019-09-02 | 111686

Regulation on Emergency Situations in the Payment System

The National Bank of the Kyrgyz Republic issued this Regulation to establish comprehensive requirements for ensuring uninterrupted operation and reliability of the payment system, particularly regarding emergency situations arising from hardware/software failures, power interruptions, communication channel disruptions, and unauthorized access. It mandates that payment system operators, participants, and critical service providers implement detailed internal procedures for incident management, risk assessment, personnel continuity, and automated or manual switching to backup hardware-software complexes. The Regulation further defines strict operational criteria, including maximum four-hour downtime limits for systemically important systems, mandatory testing of updates, and clear liability distribution to minimize operational risks and safeguard banking secrecy.

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Kyrgyzstan

National Bank of the Kyrgyz Republic

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Date of creation: 2022-12-23

Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated September 2, 2019 No. 2019-P-14/46-2-(PS)

REGULATION on emergency situations in the payment system

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated December 7, 2022 No. 2022-P-14/76-6)

Chapter 1. General Provisions

  1. The "Regulation on Emergency Situations in the Payment System" (hereinafter - the Regulation) defines key concepts and requirements to ensure uninterrupted operation of the payment system, as well as in cases of emergency situations arising in the payment system related to:
  • reliability and uninterrupted operation;
  • availability;
  • unauthorized access to the system and fraud;
  • force majeure circumstances.
  1. This Regulation applies to operators and participants of the payment system, as well as critical service providers, who are residents of the Kyrgyz Republic and hold a license from the National Bank of the Kyrgyz Republic, and who conduct their activities in accordance with the Laws "On Banks and Banking Activities", "On the Licensing and Permitting System of the Kyrgyz Republic", "On the Payment System of the Kyrgyz Republic", and regulatory legal acts of the National Bank of the Kyrgyz Republic.

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated December 7, 2022 No. 2022-P-14/76-6)

  1. The payment system of the Kyrgyz Republic includes:
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