Regulatory Alerts2007-08-22 | 105749Instruction on the Procedure for Conducting Payments in the System of Batch Clearing of Small Retail and Regular Payments in the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this Instruction to establish standardized rules, procedures, and risk management frameworks for processing electronic payment documents within its System of Batch Clearing of Small Retail and Regular Payments. It mandates that participants prepare, transmit, and process primary payment documents through designated channels while adhering to strict clearing day schedules, settlement limits, and real-time net position monitoring. The document further defines participant responsibilities, electronic signature authentication, rejection handling, and the operational roles of the Clearing Center and Unified Interbank Processing Center to ensure efficient, low-risk retail payment settlements.
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