Resolution of the Board of the National Bank of the Kyrgyz Republic No. 16/3 of April 23, 2014 on Approving the Regulation on Asset Classification and Corresponding Provisions for Potential Losses and Shortfalls in Credit Unions Operating According to Islamic Banking Principles

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of April 23, 2014 No. 16/3

On Approving the "Regulation on Asset Classification and Corresponding Provisions for Potential Losses and Shortfalls in Credit Unions Operating According to Islamic Banking Principles and Financing"

In accordance with Articles 7 and 43 of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic

RESOLVES:

1. Approve the "Regulation on Asset Classification and Corresponding Provisions for Potential Losses and Shortfalls in Credit Unions Operating According to Islamic Banking Principles and Financing" (attached).

2. This resolution shall enter into force upon the expiration of thirty days after its official publication.

3. The Legal Department:

• publish this resolution on the official website of the National Bank of the Kyrgyz Republic;

• after official publication, send this resolution to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State Register of Regulatory Legal Acts of the Kyrgyz Republic.

4. The Supervision and Licensing Methodology Department shall bring this resolution to the attention of the Association of Credit Unions and Cooperatives of Kyrgyzstan, the National Association of Credit Unions, and the specialized financial-credit institution JSC "Financial Company of Credit Unions".

5. Control over the implementation of this resolution shall be entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic, Z.L. Chokoev.

For the Chairman	Deputy Chairman
Z.L. Chokoev