Regulatory Alerts2022-09-14 | 129575Added · Updated
Instruction on Conducting Inspectorial Inspections of Payment System Operators and Payment Organizations
The National Bank of the Kyrgyz Republic establishes the procedures, types, and objectives for conducting inspectorial inspections of payment system operators and payment organizations. The regulation defines comprehensive and targeted inspections, sets a standard inspection duration of up to 20 working days (extendable to 30), and outlines the grounds for sudden inspections, including fraud, financial deterioration, or threats to payment system continuity. It mandates the formation of inspection groups, specifies the documentation required for notification and execution, and grants the National Bank the authority to request information from supervised entities and their subsidiaries.
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