Regulatory Alerts2019-09-09 | 126190Regulation on Pre-trial Dispute Resolution between the National Bank of the Kyrgyz Republic and Commercial Banks, Financial Institutions, and Other Parties
The National Bank of the Kyrgyz Republic issued this Regulation to establish the mandatory pre-trial appeal procedure for decisions made by its authorized officials, committees, or the Board against banks, financial institutions, and other legal or natural persons. The document defines the hierarchical authority for reviewing appeals, specifying that the Deputy Chairman, Chairman, or Board may adjudicate depending on the originating decision, with final Board decisions subject to judicial review. It mandates strict procedural timelines for filing appeals, conducting hearings, and issuing rulings, while explicitly prohibiting the escalation of enforcement measures during the review process.
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