Regulatory Alerts2018-08-15 | 111920Rules for Regulating the Activities of Credit Unions Carrying Out Operations Based on Islamic Principles of Banking and Finance
The National Bank of the Kyrgyz Republic issued these Rules to establish mandatory economic standards, requirements, and restrictions for credit unions conducting Sharia-compliant banking operations. The document defines key capital concepts, sets limits on external financing, client risk exposure, and investments, and specifies liquidity and capital adequacy ratios. It further outlines reporting obligations to regional and central bank units and establishes supervisory mechanisms to enforce compliance and impose sanctions for violations.
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