Regulatory Alerts2019-09-02 | 130302Regulation on the Licensing of Payment Organizations and Payment System Operators
The National Bank of the Kyrgyz Republic issued this Regulation to establish comprehensive licensing requirements for payment organizations and payment system operators, mandating perpetual licenses, defined authorized capital thresholds, and strict shareholder eligibility criteria. It prescribes detailed application procedures, document authentication standards, and capital verification processes while granting the regulator authority to suspend licenses or apply impact measures for non-compliance. The framework further clarifies cross-activity permissions, associated persons, and official responsibilities to ensure systemic stability and precise regulatory oversight of electronic payment services.
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