Approved by resolution of the Board of the National Bank of the Kyrgyz Republic of 31 October 2012 No. 41/12

INSTRUCTION

on working with bank accounts and bank deposit (deposit) accounts

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 27 November 2014 No. 53/11, 24 June 2015 No. 35/6, 10 February 2016 No. 7/2, 27 April 2016 No. 19/5, 17 May 2017 No. 19/10, 17 October 2018 No. 2018-П-12/43-2, 19 June 2019 No. 2019-П-12/32-3, 14 August 2019 No. 2019-П-12/42-1, 1 November 2019 No. 2019-П-33/55-3, 13 May 2020 No. 2020-П-12/27-1, 25 November 2020 No. 2020-П-12/67-2, 31 March 2021 No. 2021-П-12/14-5, 15 September 2021 No. 2021-П-12/51-1, 23 March 2022 No. 2022-П-12/17-5, 14 December 2022 No. 2022-П-12/78-8, 28 December 2022 No. 2022-П-12/83-7, 14 June 2023 No. 2023-П-12/38-4, 8 December 2023 No. 2023-П-12/76-1, 27 December 2023 No. 2023-П-12/82-7, 5 July 2024 No. 2024-П-12/28-2, 14 August 2024 No. 2024-П-12/36-1, 31 October 2024 No. 2024-П-12/58-2-(НПА), 26 September 2025 No. 2025-П-12/49-3-(НПА), 12 November 2025 No. 2025-П-12/60-4-(НПА), 19 December 2025 No. 2025-П-12/68-2-(НПА))

This Instruction determines the procedure for opening, maintaining and closing bank accounts and bank deposit (deposit) accounts of individuals, individual entrepreneurs and legal entities (hereinafter - clients) by commercial banks, the specialized financial and credit organization OJSC "Financial Company of Credit Unions", microfinance companies, credit unions attracting deposits, licensed by the National Bank of the Kyrgyz Republic (hereinafter - the National Bank), as well as housing savings credit companies (hereinafter - banks). The requirements of this Instruction apply to microfinance companies attracting deposits, taking into account the restrictions established by the National Bank, in accordance with Article 16 of the Law of the Kyrgyz Republic "On Microfinance Organizations in the Kyrgyz Republic", to credit unions attracting deposits, taking into account the restrictions established by the National Bank, in accordance with Article 4 of the Law of the Kyrgyz Republic "On Credit Unions". The requirements of this Instruction also apply to housing savings credit companies, taking into account the specifics provided for by the legislation of the Kyrgyz Republic in the sphere of regulating the activities of housing savings credit companies.

The purpose of this Instruction is to establish minimum requirements for the regime of working with bank accounts and bank deposit (deposit) accounts and the procedure for conducting operations on them.

This Instruction does not apply to the procedure for opening and closing accounts other than a bank account agreement or a bank deposit (deposit) agreement, in accordance with the legislation of the Kyrgyz Republic.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 10 February 2016 No. 7/2, 17 May 2017 No. 19/10, 1 November 2019 No. 2019-П-33/55-3, 5 July 2024 No. 2024-П-12/28-2)

Chapter 1 General provisions

1. Attracting deposits and other monetary funds from legal entities and individuals is one of the main types of operations of banks in accordance with the laws of the Kyrgyz Republic "On Banks and Banking Activity", "On Microfinance Organizations in the Kyrgyz Republic" and "On Credit Unions" if there is a license from the National Bank. The procedure for opening, maintaining and closing bank accounts and bank deposit (deposit) accounts is carried out in accordance with the legislation of the Kyrgyz Republic and the regulatory legal acts of the National Bank.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10, 14 December 2022 No. 2022-П-12/78-8)

2. Each bank is obliged to develop appropriate internal regulatory documents (policies, procedures, etc.) regulating the procedure for working with bank accounts and bank deposit (deposit) accounts, which are subject to approval by the authorized management bodies of the bank (the Board of Directors or the Management Board depending on the status of the document). The bank's internal documents must reflect all the main provisions concerning operations with bank accounts and bank deposit (deposit) accounts: the procedure for opening bank accounts and bank deposit (deposit) accounts, the conditions for disposing of monetary funds placed in these accounts, the procedure for paying out monetary funds and accrued interest under bank deposit (deposit) agreements, the client's rights and the bank's obligations to the client, the procedure for closing bank accounts and bank deposit (deposit) accounts, the procedure for storing information in the bank, etc., as well as the procedure for identifying and studying their clients by banks, developed in accordance with the requirements of this Instruction.

The bank's internal documents must also contain all types of internal reporting provided for by the bank.

3. In order to prevent operations related to the financing of criminal activity and the legalization (laundering) of criminal proceeds, banks are obliged to develop internal control policies and procedures corresponding to the complexity and scale of the bank's activities, including for operations (transactions) with remote access without direct contact with the client, and subject to mandatory and full compliance.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 15 September 2021 No. 2021-П-12/51-1, 19 December 2025 No. 2025-П-12/68-2-(НПА))

4. The bank's regulatory documents (policies, procedures, regulations, etc.) must comply with the requirements of the legislation of the Kyrgyz Republic, this Instruction and other regulatory legal acts of the National Bank.

5. In order to prevent the possibility of one bank employee performing client servicing operations from beginning to end, the functions of bank employees must be clearly delineated and reflected in the job descriptions of employees of the relevant bank divisions. Bank employees bear personal responsibility for the performance of their duties.

6. The bank is recommended to pay special attention to matters of interaction with and provision of assistance to clients with limited health capabilities when opening an account for them, including those concerning:

rules of etiquette when communicating with the client;
rules for accompanying the client when the bank employee and the client perform the necessary operations within the framework of servicing;
application of available measures for the most comfortable servicing;
communication with the client himself, and not with his accompanying person, if the client has not chosen another method of communication;
minimization of stress factors during the process and full (detailed) explanation of the bank's client servicing procedures.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 8 December 2023 No. 2023-P-12/76-1)

7. Interest on bank deposits (deposits) shall be accrued under each bank deposit (deposit) agreement on the deposit amount from the day following the day of its receipt by the bank until the day preceding its return to the client or its debiting from the client's account on other grounds provided for by the legislation of the Kyrgyz Republic.

8. Banks must comply with the procedure and time periods for storing records containing information on operations with clients' funds, as well as information and records relating to the identification of the client and the beneficial owner, established by the legislation of the Kyrgyz Republic. The information in such records must be sufficient to be able to reconstruct information on individual operations for the purpose of providing relevant evidence for review and investigation, and must contain at least the following information: transaction amount, account number, account type, transaction currency, account name, date, transaction type, purpose of payment. The documents submitted when opening an account in accordance with the requirements of this Instruction must be filed and stored in the bank in a special file opened for each client together with the original agreement, or maintained and stored in electronic form in a database for at least the storage periods for documents on paper media. At the same time, access to the databases of electronic documents must be ensured in accordance with legislation.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 19 June 2019 No. 2019-P-12/32-3, 14 August 2019 No. 2019-P-12/42-1)

9. The basis for opening a bank account and an account for a bank deposit (deposit) is the conclusion of a bank account agreement and a bank deposit (deposit) agreement, respectively.

The opening of a bank account or an account for a bank deposit (deposit) shall be carried out only if the bank has received all documents provided for by the legislation of the Kyrgyz Republic and this Instruction, and also has carried out identification and verification of the client and the beneficial owner in accordance with the legislation of the Kyrgyz Republic.

Banks are obliged to comply with the requirements of the legislation of the Kyrgyz Republic, including normative legal acts of the National Bank, which establish other requirements not specified in this Instruction and describe the procedure for opening and maintaining bank accounts, accounts for bank deposits (deposits) of legal entities, accounting of funds and submission of reports to the National Bank on these accounts, as well as servicing individual legal entities when working with their bank accounts.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 14 August 2019 No. 2019-P-12/42-1)

10. The basis for closing a bank account or an account for a bank deposit (deposit) is the termination of the bank account agreement or bank deposit (deposit) agreement in the manner provided for by the legislation of the Kyrgyz Republic.

Chapter 2 Terms and definitions used

11. The following terms and definitions are used in this Instruction:

Bank deposit (deposit) is understood in the meaning specified in Article 749 of the Civil Code of the Kyrgyz Republic.

Bank account is a method of reflecting contractual relations between the bank and the client for accepting a bank deposit (deposit) and/or performing by the bank operations related to the provision of bank servicing of the client, provided for by the bank account agreement, bank deposit agreement, legislation and business customs applied in banking practice.

Non-cash settlement is understood in the meaning specified in Article 2 of the Law of the Kyrgyz Republic "On the Payment System of the Kyrgyz Republic".

Beneficial owner is an individual (individuals) who ultimately (through a chain of ownership and control) directly or indirectly (through third parties) owns the right of ownership or controls the client, or an individual on whose behalf or in whose interests an operation (transaction) is performed.

Verification is the procedure for checking the identification data of the client and (or) the beneficial owner.

Depositor is a person who has deposited a sum of money with the bank or in whose name a sum of money has been received by the bank from a third party and who has the corresponding agreement for opening and maintaining a bank account or bank deposit (deposit).

High-risk countries are states and territories (formations) that do not apply or insufficiently apply international standards on combating money laundering, financing of terrorism and financing of the proliferation of weapons of mass destruction, as well as offshore zones.

Declaration of trust is a written agreement that property, the right to which is held by one person, actually belongs to another person, in whose interests the legal title of ownership was transferred to the first person.

Deposit certificate is a security similar to a savings certificate, however, its holder can only be a legal entity. The relations between the issuing bank of a deposit certificate and its client are based on bank deposit (deposit) relations.

Notary's deposit is a special account opened by a notary in a bank in accordance with the requirements of the legislation of the Kyrgyz Republic on notaries.

Identification - the procedure for establishing identification data about the client and (or) the beneficial owner.

An individual entrepreneur is a citizen of the Kyrgyz Republic, a foreign citizen or a stateless person permanently or temporarily residing in the territory of the Kyrgyz Republic and engaged in individual entrepreneurial activity in its territory in accordance with the current legislation of the Kyrgyz Republic.

Kairylman is understood in the meaning specified in the Regulation on the procedure for granting kairylman status, approved by Resolution of the Government of the Kyrgyz Republic of 23 June 2015 No. 402.

Nominal service is a service where nominal persons (nominal director, shareholder, participant, etc.) are appointed to official positions in the organization or act as shareholders (participants) of the organization. At the same time, the organization is actually owned and managed by the beneficial owner in accordance with an agreement (arrangement) between the nominal person and the beneficial owner.

Nominal persons may be identified by the bank by the client completing a questionnaire drawn up in accordance with the requirements of the financial intelligence body.

A nominal shareholder (participant) is an individual or legal entity that owns securities of a legal entity only formally on the instructions of the beneficial owner on the basis of an agreement (arrangement).

A nominal director is an individual who manages the organization only formally, acting on the written or oral instructions of the beneficial owner on the basis of an agreement concluded between them.

Financial intelligence body - the authorized state body of the Kyrgyz Republic in the field of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds.

Risk-based approach - the application of enhanced measures where there is a high level of risk or simplified measures where there is a low level of risk in accordance with established risk management procedures (identification, assessment, monitoring, control, risk mitigation).

Sanctions lists - the Consolidated Sanctions List of the Kyrgyz Republic and the Consolidated Sanctions List of the UN Security Council.

A savings certificate is a security certifying the fact of depositing funds with a bank as a bank deposit (deposit) and the client's right to receive, upon expiry of the established term, the amount of the bank deposit (deposit) and interest thereon at any branch of that bank. Only an individual may be the holder of a savings certificate.

A kairylman certificate is understood in the meaning specified in the Regulation on the procedure for granting kairylman status, approved by Resolution of the Government of the Kyrgyz Republic of 23 June 2015 No. 402.

Individuals are citizens of the Kyrgyz Republic, foreign citizens, stateless persons.

A targeted reclamation account is understood in the meaning specified in the Regulation "On the reclamation of lands disturbed in the process of subsoil use", approved by Resolution of the Government of the Kyrgyz Republic of 18 August 2017 No. 517.

An escrow account is a special account opened on the basis of a tripartite agreement concluded between the seller, the buyer of movable/immovable property and the bank, for the purpose of transferring funds in national currency to the seller after registration of the contract for the sale and purchase of movable/immovable property.

A legal entity is an organization registered in the manner established by legislation, which has separate property in its ownership, economic management or operational management and is liable for its obligations with that property, and may, in its own name, acquire and exercise property and personal non-property rights and obligations;

An escrow account for virtual assets is a special account opened on the basis of a tripartite agreement concluded between a virtual asset service provider, a client and a bank, intended for accounting and blocking of funds until the occurrence of circumstances or performance of obligations provided for by the agreement, after which the bank transfers the funds to the seller of virtual assets. At the same time, virtual assets are understood in the meaning of the Law of the Kyrgyz Republic "On Virtual Assets", and the bank's operations are performed within the scope of services with virtual assets in accordance with the Procedure for the provision of services related to virtual assets approved by Resolution of the Board of the National Bank of the Kyrgyz Republic of 3 February 2023 No. 2023-P-14/8-2-(NPA).

(As amended by Resolutions of the Board of the National Bank of the Kyrgyz Republic of 14 August 2019 No. 2019-P-12/42-1, 15 September 2021 No. 2021-P-12/51-1, 28 December 2022 No. 2022-P-12/83-7, 27 December 2023 No. 2023-P-12/82-7, 12 November 2025 No. 2025-P-12/60-4-(NPA), 19 December 2025 No. 2025-P-12/68-2-(NPA))

Chapter 3 Types of bank accounts, accounts for bank deposits (deposits)

12. Bank accounts and accounts for bank deposits (deposits) may be opened and maintained both in national and in foreign currency.

13. Bank accounts are intended for making payments and settlements with third parties and are divided into:

correspondent accounts;
settlement (current) accounts;
special accounts;
accounts for bank deposits (deposits).

(As amended by Resolution of the Board of the National Bank of the Kyrgyz Republic of 17 October 2018 No. 2018-P-12/43-2)

14. A correspondent account is a bank account that reflects settlements made by one bank on the instructions and at the expense of another on the basis of an agreement.

15. A settlement (current) account is an account intended for keeping funds and making current settlements, including settlements using bank payment cards, made by legal entities, except banks, and individual entrepreneurs (receipts, payments, mutual settlements with other individuals or legal entities, transfers to other financial and credit organizations) under a bank account agreement.

Funds from the settlement (current) account are paid upon the client's first demand without prior notice. All settlement and monetary transactions must be carried out using payment documents with the mandatory indication of all required details.

All transactions on the settlement (current) account are carried out on the client's instruction in accordance with the requirements of the legislation of the Kyrgyz Republic and the Regulation "On Non-Cash Payments in the Kyrgyz Republic", approved by the resolution of the Board of the National Bank of the Kyrgyz Republic of 8 December 2021 No. 2021-П-14/68-7-(ПС).

(The paragraph has lost force in accordance with the resolution of the Board of the National Bank of the Kyrgyz Republic of 23 March 2022 No. 2022-П-12/17-5)

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 24 June 2015 No. 35/6, 17 May 2017 No. 19/10, 14 August 2019 No. 2019-П-12/42-1, 23 March 2022 No. 2022-П-12/17-5, 28 December 2022 No. 2022-П-12/83-7, 8 December 2023 No. 2023-П-12/76-1)

15-1. Special accounts are accounts opened by a bank for legal entities and individuals, intended for the accounting and blocking of funds until the occurrence of certain circumstances or the fulfillment of certain obligations stipulated in the contract, in accordance with the requirements of the legislation of the Kyrgyz Republic.

Special accounts may include an escrow account, a targeted reclamation account, a notary's deposit, an escrow account for virtual assets.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10, 27 December 2023 No. 2023-П-12/82-7, 12 November 2025 No. 2025-П-12/60-4-(НПА))

16. Bank deposit (deposit) accounts are intended for the saving and accumulation of funds, as well as for making payments and settlements. Bank deposits (deposits) may be interest-bearing and non-interest-bearing. Depending on the terms of the contract, bank deposit (deposit) accounts are subdivided into:

demand bank deposit (deposit) accounts;
time bank deposit (deposit) accounts;
accounts for deposits on other terms of return.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10)

17. A demand bank deposit (deposit) account is an account used by an individual or legal entity for the storage and accumulation of funds under a demand bank deposit (deposit) agreement, as well as for making payments and settlements.

The rules of a bank account agreement apply to the relations between the bank and an individual depositor under a demand bank deposit (deposit), unless otherwise follows from the essence of the bank deposit (deposit) agreement. At the same time, to the demand bank deposit (deposit) account of individuals, in addition to the client's personal funds, there may be credited wages, author's royalties, pensions, alimony, social benefits, funds from another bank account, payments related to inheritance, payment for the sale of personal property belonging to the account holder, money transfers (including those carried out through money transfer systems without opening an account) and other receipts and payments, including loan payments. From the demand bank deposit (deposit) account of an individual, the client may make payments of a personal nature, including payments for goods purchased for personal purposes (services rendered), loan repayments, money transfers (including those carried out through money transfer systems without opening an account), utility payments and other similar payments of a personal nature.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10, 19 June 2019 No. 2019-П-12/32-3)

18. A time bank deposit (deposit) account is an account to which individuals and legal entities, under a time bank deposit agreement for a certain period of time, deposit funds that generate income from accrued interest.

A time bank deposit (deposit) account is used for the storage and accumulation of funds and is not intended for settlements with third parties.

Interest on the amount of a time bank deposit (deposit) is paid to the client upon his demand according to the terms of the time bank deposit (deposit) agreement or is transferred upon his demand to another account.

In cases where a time bank deposit (deposit) is returned to the client upon his demand before the expiry of the term or before the occurrence of other circumstances specified in the agreement, interest on it is paid in the amount corresponding to the amount of interest paid by the bank on demand bank deposits (deposits), unless the agreement provides for a higher interest rate. Under a time bank deposit (deposit), partial contributions to the principal amount of the bank deposit (deposit) and withdrawals of the principal amount of the bank deposit (deposit) are possible in accordance with the bank deposit (deposit) agreement.

In cases where the amount of a time bank deposit (deposit) is not claimed by the client upon expiry of the term, the agreement is considered extended on the terms of a demand bank deposit (deposit), unless otherwise provided by the agreement.

Upon expiry of the storage term of a time bank deposit (deposit), it may be reissued for a new term. A bank deposit (deposit) may be reissued for a new storage term with an increase or decrease in the amount of the time bank deposit (deposit).

The bank must provide statements on the depositor's accounts upon his request no later than three working days from the moment of receipt of the request.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10, 17 October 2018 No. 2018-П-12/43-2)

18-1. The bank and the client may conclude a deposit agreement on other terms of return. A deposit agreement on other terms of return means an agreement under which the bank is obliged to return the deposit and pay the interest accrued on it upon the occurrence (non-occurrence) of a certain circumstance (event) specified in the concluded agreement.

If the terms of storage of a deposit (deposit) on other terms of return are determined by the agreement, then such a deposit (deposit) is accounted for as a time bank deposit (deposit). If the terms of storage of a deposit (deposit) on other terms of return are not determined by the agreement, then it is accounted for as a demand bank deposit (deposit).

In cases where the client does not demand the return of the deposit amount placed on other terms of return, upon the occurrence of the circumstances provided for by the agreement, the agreement is considered extended on the terms of a demand bank deposit (deposit) in effect on the day of expiration of the deposit term, unless otherwise provided by the agreement.

The deposit (deposit) agreement on other terms of return may define conditions (for example, illness, death, force majeure, etc.) when such a deposit (deposit) may be returned before the occurrence of the circumstance (event) defined in the agreement.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 17 October 2018 No. 2018-P-12/43-2)

Chapter 4 Legal regime of bank accounts, accounts for bank deposits (deposits)

19. Individuals and legal entities have the right to open bank accounts, accounts for bank deposits (deposits) (hereinafter - account) in one or several banks and dispose of their funds in these accounts independently.

20. When opening and maintaining accounts, foreign individuals and legal entities have equal rights and obligations with individuals and legal entities of the Kyrgyz Republic, unless otherwise provided by the legislation of the Kyrgyz Republic.

21. The bank has no right to open and maintain anonymous accounts, bearer accounts (deposits) and carry out any operations without identifying the correspondent bank, clients and establishing the beneficial owner in accordance with the requirements of the legislation of the Kyrgyz Republic and this Instruction.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 14 August 2019 No. 2019-P-12/42-1)

22. The bank must refuse the client to open an account or conduct operations on the account if:

the relevant documents necessary for fulfilling the requirements for opening an account and conducting operations on it, identifying and verifying the client and the beneficial owner and conducting other measures of proper verification of the client have not been submitted;
unreliable documents have been submitted.

At the same time, the bank must, in the established procedure, send a corresponding message to the financial intelligence body within one working day from the day of adoption of the decision to refuse servicing the client.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 14 August 2019 No. 2019-P-12/42-1, 15 September 2021 No. 2021-P-12/51-1)

22-1. If, when opening an account or conducting operations on the account, the bank has suspicions that the operations (transactions) are related to the financing of criminal activity and legalization (laundering) of criminal proceeds, the bank must apply the following measures:

conduct identification and verification of the client and the beneficial owner, regardless of any exceptions or established threshold values;
conduct a comprehensive analysis of the business relations or operation (transaction) of the client and/or persons related to it and take a decision to recognize the business relations or operation (transaction) as suspicious;
suspend the suspicious operation (transaction) and within five hours from the moment of recognition in the established procedure of the operation (transaction) as suspicious, send a message about the suspicious operation (transaction) to the financial intelligence body;
suspend or terminate business relations with the client.

The procedure for recognizing an operation (transaction) as suspicious and suspending a suspicious operation (transaction) is established by the Cabinet of Ministers of the Kyrgyz Republic.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 19 December 2025 No. 2025-P-12/68-2-(NPA))

22-2. If the bank is convinced that conducting proper verification of the client will lead to disclosure of information about the suspicions that have arisen, the bank does not take measures for proper verification of the client and sends a message about the suspicious operation (transaction) to the financial intelligence body.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 14 August 2019 No. 2019-P-12/42-1)

22-3. The bank is obliged, before establishing and in the course of carrying out business relations with the client and/or before carrying out any operation (transaction) of the client, to check the identification data of the client, the authorized representative of the client, the beneficial owner and the counterparty of the client for the presence or absence in the Sanctions Lists.

If, in relation to the client, the authorized representative of the client, the beneficial owner, the counterparty of the client, there is information about participation in terrorist or extremist activity, proliferation of weapons of mass destruction, legalization (laundering) of criminal proceeds, creation and leadership of an organized group or criminal community for committing crimes or participation in such group or community or providing other assistance to such group or community, obtained in accordance with the norms of the legislation of the Kyrgyz Republic, the bank must, without prior notification of the client, immediately freeze the operation (transaction) and/or funds of the client included in the Sanctions Lists, and within 3 (three) hours from the moment of freezing send a message to the financial intelligence body, including about attempts to carry out operations (transactions) by individuals and legal entities, groups, organizations included in the Sanctions Lists.

The procedure for freezing and unfreezing an operation (transaction) and (or) funds, as well as the procedure for providing access to frozen funds, managing frozen funds and their storage, is established by the Cabinet of Ministers of the Kyrgyz Republic.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 19 December 2025 No. 2025-P-12/68-2-(NPA))

22-4. Operations (transactions) and (or) funds of a designated person included in the Sanctions Lists, in respect of whom there is information about the carrying out (commission) of or participation in the carrying out (commission) of terrorist activity, extremist activity and the proliferation of weapons of mass destruction, shall be frozen for an indefinite period.

Operations (transactions) and (or) funds of a designated person included in the Consolidated Sanctions List of the Kyrgyz Republic, in respect of whom there is information about the carrying out (commission) of or participation in the carrying out (commission) of the legalization (laundering) of criminal proceeds, the creation and leadership of an organized group or criminal community for the commission of crimes or participation in such group or community, or the provision of other assistance to such group or community, shall be frozen until a decision is taken to seize property in accordance with the criminal procedure legislation of the Kyrgyz Republic.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 19 December 2025 No. 2025-П-12/68-2-(НПА))

22-5. In the event of identifying signs indicating the possible fraudulent nature of an expenditure operation, the bank shall have the right to suspend such operation for a period of up to 30 (thirty) days.

The procedure for identifying the said signs, and the algorithm for suspending and resuming operations, shall be established by the regulatory legal documents of the National Bank establishing minimum requirements for the functioning of systems for countering internal and external fraud (anti-fraud).

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 26 September 2025 No. 2025-П-09/49-3-(НПА))

23. When opening and maintaining an account, the bank must comply with the "know your customer" policy in accordance with the requirements specified in Appendix 1 to this Instruction.

24. The opening of an account entails the emergence of continuing legal relations between the bank and the client, which terminate only after the full discharge of mutual obligations by the parties under the bank account or bank deposit (deposit) agreement and the closing of the account. The bank account agreement shall be considered concluded from the moment of signing, and the bank deposit (deposit) agreement - from the day the amount of the bank deposit (deposit) is received by the bank into the bank deposit (deposit) account.

When servicing a client with visual or hearing impairments, the bank must, at the client's request, provide audio reproduction/sign language interpretation of the text of the bank account agreement and other documents signed by the client.

The bank account agreement may provide for the certification of rights to dispose of funds held in the account by electronic means of communication and other documents using analogues of a handwritten signature, electronic signature, facsimile signature (facsimile) therein in accordance with the Law of the Kyrgyz Republic "On the Rights and Guarantees of Persons with Disabilities", codes, passwords and other means confirming that the disposal was given by a person authorized to do so.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 17 October 2018 No. 2018-П-12/43-2. 8 December 2023 No. 2023-П-12/76-1)

25. When opening an account, the bank must establish whether the client is acting in his own interests or in the interests of a beneficial owner. If the client acts in the interests of a beneficial owner (beneficial owners), the bank must identify such persons, as well as persons who perform nominal functions. The bank must request from the client information about the above-mentioned persons in accordance with the requirements established by the legislation of the Kyrgyz Republic.

As documents on the basis of which the client disposes of the funds of the beneficial owner and acts in the interests of the beneficial owner, the following may be submitted:

agency agreement;
power of attorney of the beneficial owner, which grants the right to dispose of property and represent his interests;
an agreement concluded between the beneficial owner and the nominal holder of shares of capital on the provision of nominal services;
a notarized power of attorney from the beneficial owner stating that the nominal holder of securities provides services in the interests of the beneficial owner;
a general power of attorney from the beneficial owner stating that the nominal director is authorized to conduct the affairs of the organization;
confirmation (statement) of the nominal holder that he acts in the interests of the beneficial owner (declaration of the trust nature of ownership, etc.);
confirmation of the beneficial owner on the appointment of the nominal director;
a certificate of the shares of capital belonging to the beneficial owner or with a blank endorsement (endorsement) evidencing their transfer to the beneficial owner.

This list of documents is not exhaustive. The bank has the right to require from the client additional documents and information necessary for identifying the beneficial owner and not to open an account until the relevant documents are submitted.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 14 August 2019 No. 2019-П-12/42-1, 19 December 2025 No. 2025-П-12/68-2-(НПА))

26. If the documents submitted to the bank in accordance with the requirements of paragraph 25 of this Instruction are issued in a country that is not a party to the Hague Convention Abolishing the Requirement of Legalisation for Foreign Public Documents of 5 October 1961, they must be legalized by the Consular Service of the authorized body of the Kyrgyz Republic.

27. If the documents submitted to the bank in accordance with the requirements of paragraph 25 of this Instruction are issued in a country that is a party to the Hague Convention Abolishing the Requirement of Legalisation for Foreign Public Documents of 5 October 1961, their authenticity must be confirmed by an apostille.

28. If the original document submitted to the bank in accordance with the requirements of this Instruction is drawn up in a foreign language, a translation of the documents into the state language and, if necessary, into the official language of the Kyrgyz Republic, certified by a translation agency, must be submitted to the bank.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 8 December 2023 No. 2023-P-12/76-1)

29. When opening an account, the bank is prohibited from requiring from the client any other documents besides those provided for by the legislation of the Kyrgyz Republic.

30. Funds received in the client's name from third parties may be credited to the client's account, indicating the necessary details of their account, subject to compliance with the requirements of the legislation of the Kyrgyz Republic.

If a client opens an account in the name of a third party who acquires the rights of a depositor from the moment the money is credited to their account or from the moment they present the first claim to the bank based on these rights, or from the moment they otherwise express to the bank an intention to exercise such rights, unless otherwise provided by the bank deposit (deposit) agreement, the bank is obliged to obtain information and documents allowing the identification and study of the said third party. When a bank deposit (deposit) is received in the name of a third party, the bank is obliged to notify this third party of the receipt of funds to their account. In cases where the third party in whose name the bank deposit (deposit) was made has refused it, the person who concluded the bank deposit (deposit) agreement in the name of the third party has the right to demand the bank deposit (deposit) back or transfer it to their own name.

31. Funds are issued from the account upon the client's first demand, in part or in full, except for deposits (deposits) made on other terms of return provided for by the agreement. The safety of funds and their issuance upon the client's first demand are guaranteed by the bank.

(Resolution of the Board of the National Bank of the Kyrgyz Republic of 17 October 2018 No. 2018-P-12/43-2)

32. The bank has no right to refuse to open an account, except in cases where the bank's activities have a certain specificity or restrictions in activity, as a result of which the bank can open accounts for certain clients or perform certain settlement operations (for example, in the case where the bank works only with legal entities, or has a limited license), as well as cases provided for by the legislation of the Kyrgyz Republic.

33. The bank is prohibited from concluding agency agreements, as well as other agreements and transactions, with individuals, legal entities and individual entrepreneurs acting as intermediaries for the performance of work or provision of services related to:

opening/closing of a client's account;
opening/closing of a bank's correspondent account;
debiting funds from clients' accounts. Crediting funds to clients' accounts is possible through instant money transfer systems, subject to identification of the client's account;
crediting/debiting funds to/from the bank's correspondent account;
provision of a term bank deposit (deposit) account as collateral to the bank;
purchase/sale of securities for the bank's client;
conduct of other operations on clients' and the bank's accounts.

This prohibition does not apply to banks when concluding with legal entities acting as intermediaries agency and other agreements on:

purchase/sale of securities for the bank;
participation of the bank in the system of settlements by bank payment cards, in accordance with the Regulation "On Bank Payment Cards in the Kyrgyz Republic", approved by the resolution of the Board of the National Bank of the Kyrgyz Republic of 9 December 2015 No. 76/8;
participation of the bank in the money transfer system;
participation of the bank in the postal savings system;
(paragraph 14 has lost force in accordance with the resolution of the Board of the National Bank of the Kyrgyz Republic of 14 August 2019 No. 2019-P-12/42-1)
provision by the bank of banking retail services, in accordance with the Regulation "On the main requirements for the activities of commercial banks when concluding an agency agreement for the provision of banking retail services", approved by the resolution of the Board of the National Bank of the Kyrgyz Republic No. 36/7 of 26 May 2010.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 14 August 2019 No. 2019-P-12/42-1)

34. Information constituting a banking secret is provided in accordance with the legislation of the Kyrgyz Republic.

35. Arrest may be imposed on accounts on the basis of a judicial act.

When arrest is imposed on an account, the bank must immediately cease any expenditure operations on the account. In the case of arrest of a certain amount of funds held in the account, any expenditure operations are ceased within the irreducible balance in the amount of this sum.

Confiscation of funds from accounts may be carried out only on the basis of a judicial act that has entered into legal force.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10, 14 December 2022 No. 2022-P-12/78-8)

Chapter 5

Procedure for opening bank accounts under a bank deposit (deposit) agreement

36. When opening an account under a bank deposit (deposit) agreement, the bank undertakes to accept funds from individuals and legal entities, pay remuneration in the amount and manner provided for by the bank deposit (deposit) agreement, and return the bank deposit (deposit) on the terms and in the manner provided for a deposit of this type by the legislative acts of the Kyrgyz Republic and the bank deposit (deposit) agreement, and provide other services provided for by the bank deposit (deposit) agreement.

When opening an account under a bank deposit (deposit) agreement, funds may be deposited in the name of the depositor themselves, or in the name of a certain third party, who must also be identified before the operation and will subsequently be a depositor of the bank.

37. The bank deposit (deposit) agreement must contain the following:

subject of the agreement;
parties to the contract;
obligations of the parties;
term of the bank deposit (deposit), procedure for accrual and payment of interest;
procedure for dispute resolution;
term of the contract;
signatures of the parties, and if a legal entity or individual entrepreneur, then the seal (if any);
other conditions provided for by this Instruction.

The contract may provide for other conditions agreed upon by the parties.

The bank deposit (deposit) agreement must also contain additional requirements established by the legislation of the Kyrgyz Republic.

The contract must be drawn up in the state language and, if necessary, in the official language and concluded in written form in at least two copies, one for each party, or in the form of an electronic document signed with an electronic signature that allows reliably establishing that the document comes from a party to the contract. Failure to comply with the written form of the bank deposit (deposit) agreement or the requirements for recognizing an electronic signature entails the invalidity of this agreement. In this case, for the written form, one copy is kept in the bank, the other is provided to the client; for the electronic form, the bank stores the document in an electronic database, and the client is provided with access to the electronic form of the contract with the possibility of downloading it for storage and verification of the uniqueness of the content. The bank is obliged to provide the contract to the client before accepting the bank deposit (deposit).

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 19 June 2019 No. 2019-П-12/32-3, 8 December 2023 No. 2023-П-12/76-1)

38. A person acting on behalf of the client must provide the original identity document on paper or a document in digital format obtained from state information systems, as well as documents confirming that he has the appropriate authority to open an account.

(As amended by resolution of the Board of the National Bank of the Kyrgyz Republic of 14 June 2023 No. 2023-П-12/38-4)

39. Opening accounts under a bank deposit (deposit) agreement upon first application must be carried out with identification in the presence of the depositor himself (if the depositor is an individual) or a person who has properly executed documents confirming that he has the appropriate authority to open an account (if the depositor is an individual or legal entity), or a person opening an account in the name of a third party (for example, parents or legal representatives of a child or third parties), for the purpose of his identification.

In the case of identification of the client in accordance with the requirements of the Procedure for identification and verification of clients in remote mode, the opening of accounts under a bank deposit (deposit) agreement is carried out without the personal presence of the depositor himself.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 19 June 2019 No. 2019-П-12/32-3, 13 May 2020 No. 2020-П-12/27-1, 28 December 2022 No. 2022-П-12/83-7)

40. To open a bank account under a bank deposit (deposit) agreement, individuals (residents and non-residents) must submit documents on paper or in the form of an electronic document:

1) an application for opening an account, signed by the client on paper, or in the form of an electronic document signed by means of an electronic signature, which shall state:
- surname, name, patronymic of the depositor (in accordance with passport data), maiden name (if any);
- date and place of birth;
- citizenship;
- full address of place of residence (registration) or place of stay, telephone number, fax, email address;
- information about the identity document (name, series, authority that issued the document, date of issue of the document), personal number (if any);
- place of work and occupation;
- purpose and expected nature of business relations with the bank;
- data of the document confirming the right of a foreign citizen or stateless person to stay (reside) in the Kyrgyz Republic;
- other information at the discretion of the bank, including that obtained from state bodies of the Kyrgyz Republic, which may be presented on paper or in the form of an electronic document;
2) identity document of the client (the original on paper is provided for review, from which a copy is taken, or a document in digital format obtained from state information systems, except in cases specified in paragraph 39);
3) (lost force in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic of 23 March 2022 No. 2022-П-12/17-5)

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 24 June 2015 No. 35/6, 19 June 2019 No. 2019-П-12/32-3, 31 March 2021 No. 2021-П-12/14-5, 23 March 2022 No. 2022-П-12/17-5, 14 June 2023 No. 2023-П-12/38-4)

41. Individual entrepreneurs, in addition to the documents specified in paragraph 40 of this Instruction, must additionally submit to the bank (on paper or in the form of an electronic document):

1) a copy of a document of the established form issued by an authorized body and confirming the fact of state registration (re-registration) (certificate) as an individual entrepreneur, or a copy of a document confirming the fact of engaging in entrepreneurial activity without state registration (patent or decision of the tax service body on the application of tax payment in a trade zone with a special regime), in cases provided for by the legislation of the Kyrgyz Republic.

In the case of an electronic patent of an individual entrepreneur, a bank employee must verify the authenticity of the electronic patent on paper or in the form of an electronic document by scanning the QR code applied to the electronic patent using a mobile or other device having the appropriate software, or verify the patent data through the information systems of the relevant state bodies of the Kyrgyz Republic.

Note: QR code is a matrix code (two-dimensional barcode) containing information about the patent, created specifically for recognition by mobile devices;

2) (lost force in accordance with the resolution of the Board of the National Bank of the Kyrgyz Republic of 8 December 2023 No. 2023-P-12/76-1)
3) (lost force in accordance with the resolution of the Board of the National Bank of the Kyrgyz Republic of 23 March 2022 No. 2022-P-12/17-5)

A bank employee, when opening a bank account or under a bank deposit (deposit) agreement, must verify and confirm the existence of documents according to the list specified in this paragraph. At the same time, the fact of verification of documents received on paper or in the form of an electronic document, through the information systems of the relevant state bodies of the Kyrgyz Republic or by means of a mobile or other device having the appropriate software, must be confirmed (recorded) in the appropriate manner in the paper or electronic client file.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 31 March 2021 No. 2021-P-12/14-5, 23 March 2022 No. 2022-P-12/17-5, 8 December 2023 No. 2023-P-12/76-1, 31 October 2024 No. 2024-P-12/58-2-(NPA))

42. If a client (parent, other legal representative or third party) opens an account in favor of a child, he must submit an application containing information about the person in whose favor the account is opened; information about the person opening the account (the original identity document of the parent, other legal representative or third party on paper or a document in digital format obtained from state information systems; the original identity document of the child (passport on paper or a document in digital format obtained from state information systems, or birth certificate); a card with specimen signatures of persons entitled to dispose of the funds in the account.

A bank deposit (deposit) made in the name of a child is disposed of by:

until the child reaches 14 years of age - parents or legal representatives;
upon the child reaching 14 years of age - the child himself.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 28 December 2022 No. 2022-P-12/83-7, 14 June 2023 No. 2023-P-12/38-4)

43. To open a bank account under a bank deposit (deposit) agreement, legal entities (residents and non-residents) must submit the following documents on paper or in the form of an electronic document, except in cases provided for by separate decisions of the National Bank:

1) an application to open an account, signed by the persons specified in the card of specimen signatures, authorized to sign contracts and financial documents with the right of first and second signature and certified by the seal of the legal entity, which must contain:
- full name, as well as abbreviated name and name in a foreign language, if any;
- information on state registration: date, number, name of the registering body, place of registration (legal address), except for state bodies and local self-government bodies;
- taxpayer identification number;
- payer codes in accordance with the All-Republican Classifier of Enterprises and Organizations developed by the National Statistical Committee of the Kyrgyz Republic;
- actual location address;
- postal address;
- contact telephone and fax numbers;
- type of activity;
- purpose and expected nature of business relations with the bank;
- other information at the discretion of the bank;
2) permission of the Central Treasury of the Kyrgyz Republic to open an account in a bank for state bodies, enterprises and institutions financed from the state budget in accordance with the requirements established by the legislation of the Kyrgyz Republic;
3) certificate (evidence) of state registration (re-registration) of the legal entity with the Ministry of Justice of the Kyrgyz Republic, except for state bodies and local self-government bodies. For legal entities registered in the Free Economic Zone (hereinafter - FEZ), it is additionally necessary to provide a certificate certifying the registration of the legal entity as a FEZ subject. For non-residents: an extract from the trade register of the country of origin on the registration of the firm as a legal entity or another document confirming the registration of the client as a legal entity in accordance with the requirements of the legislation of the country of origin;
4) a copy of the constituent documents depending on the organizational legal form of the organization, with amendments and additions, certified by the seal of the legal entity and the signature of the head;
5) in cases where the legal entity carries out activities subject to mandatory licensing in accordance with the legislation of the country of origin - a copy of the license certified in the established manner. If the legislation of the Kyrgyz Republic provides for the submission of a license after opening an account, a copy of the license is submitted after its receipt;
6) (lost force in accordance with the resolution of the Board of the National Bank of the Kyrgyz Republic of 14 August 2024 No. 2024-P-12/36-1)
7) for legal entities registered in the FEZ, it is additionally necessary to submit a document confirming the registration of the legal entity with the statistical bodies of the Kyrgyz Republic;
8) a card with specimen signatures and seal impression, certified by a notary (the minimum requirements for this document are given in Appendix 2); documents confirming the authority of the persons specified in the card to dispose of the funds in the account;
9) an identity document of the person authorized to dispose of the funds of the legal entity (when servicing in person, the original on paper is provided for review, from which a copy is taken, or a document in digital format obtained from state information systems).

When opening a bank account under a bank deposit (deposit) agreement, a bank employee must verify and confirm the availability of documents according to the list specified in this paragraph, as well as verify the tax registration of the legal entity. The fact of verification of documents received on paper or in the form of an electronic document, as well as the existence of tax registration of the legal entity through the information systems of the appropriate state bodies of the Kyrgyz Republic or by means of a mobile or other device having the appropriate software, must be confirmed (recorded) in the appropriate manner in the paper or electronic client file.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 27 November 2014 No. 53/11, 24 June 2015 No. 35/6, 17 October 2018 No. 2018-П-12/43-2, 31 March 2021 No. 2021-П-12/14-5, 15 September 2021 No. 2021-П-12/51-1, 14 June 2023 No. 2023-П-12/38-4, 8 December 2023 No. 2023-П-12/76-1, 14 August 2024 No. 2024-П-12/36-1, 19 December 2025 No. 2025-П-12/68-2-(НПА))

44. Branches and representative offices of legal entities (residents and non-residents) carrying out economic activity in the Kyrgyz Republic, in order to open a bank account under a bank deposit (deposit) agreement, in addition to the documents specified in paragraph 43 of this Instruction, must additionally submit to the bank:

1) a copy of the constituent documents of the parent organization, with amendments and additions, certified by a notary or by the seal of the legal entity and the signature of the head, in cases where, in accordance with the legislation of the country of origin, notarial certification is impossible;
2) a copy of the document with amendments and additions, on the basis of which the subdivision carries out its activity (for example, the Regulations on the branch, etc.), certified by a notary or by the seal of the branch/representative office and the signature of the head, in cases where, in accordance with the legislation of the country of origin, notarial certification is impossible;
3) a document with a list of operations and official consent from the legal entity to conduct these operations, if this is not reflected in the regulations on the structural subdivision and/or in the power of attorney issued to the head of the structural subdivision.

45. In order to open a bank account under a bank deposit (deposit) agreement, international organizations, their projects, diplomatic and consular missions carrying out their activities in accordance with international agreements ratified in the established procedure, in addition to the documents specified in subparagraph 1 of paragraph 43 of this Instruction, must additionally submit the following documents, unless a different procedure for opening an account is provided for in the relevant international agreement:

1) an international treaty ratified by the Jogorku Kenesh of the Kyrgyz Republic, within the framework of which the international organization, its project, diplomatic or consular mission operates;
2) the regulations on the international organization or its project (if any);
3) an order (contract, letter from the relevant superior organization) confirming the authority of persons to sign contracts and financial documents with the right of first and second signature;
4) a letter from the authorized state body (Ministry of Foreign Affairs of the Kyrgyz Republic) confirming the accreditation of the international organization (its project) and the heads/leaders of the international organization (its project);
5) signature specimen cards certified by the authorized state body or the embassy of the relevant country in the Kyrgyz Republic, of which the international organization or its project is a resident.

45-1. To open a special account, the same documents are submitted to the bank as for opening a bank account. The procedure for working with special accounts is determined by the legislation of the Kyrgyz Republic and the internal documents of the bank.

(As amended by the resolution of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10)

46. After concluding a bank deposit (deposit) agreement with a client, the bank is obliged to issue to him a document certifying the right to claim against the bank the amount deposited on deposit, and the amount of interest thereon determined by the agreement (deposit document), drawn up in the name of the bank's depositor.

Deposit documents are a savings/deposit certificate, a depositor's book (savings book), an agreement or other documents approved by the bank.

The procedure for drawing up and issuing a deposit document to a client must comply with the legislation of the Kyrgyz Republic.

Chapter 6

Procedure for opening bank accounts under a bank account agreement

47. When opening an account under a bank account agreement, the bank undertakes to accept monetary funds received in favor of the client, execute the client's instructions on transferring (issuing) to the client or third parties the corresponding amounts of money, and provide other services provided for by the bank account agreement.

48. The bank account agreement must contain the following:

the subject of the agreement;
the procedure for disposing of the money held in the bank;
the terms for the provision of services by the bank and the procedure for their payment.

The bank account agreement may provide for other terms agreed upon by the parties.

The bank account agreement must also contain additional requirements established by the legislation of the Kyrgyz Republic.

Opening an account for an individual entrepreneur under a bank account agreement upon first application must be carried out in the presence of the depositor himself or a person who has duly executed documents confirming that he has the appropriate authority to open an account, for the purpose of his identification.

In the case of identification of an individual entrepreneur in accordance with the requirements of the Procedure for identification and verification of clients in remote mode, the opening of accounts under a bank account agreement is carried out without the personal presence of the depositor himself.

The opening of an account for a legal entity under a bank account agreement must be performed in the presence of a person who has duly executed documents confirming that he has the relevant authority to open an account, for the purpose of identifying him.

When opening a settlement (current) account under a bank account agreement for residents and non-residents, it is necessary to submit the same documents as for opening an account under a bank deposit (deposit) agreement for residents and non-residents, respectively.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 19 June 2019 No. 2019-P-12/32-3, 28 December 2022 No. 2022-P-12/83-7)

49. The procedure for the bank's work with correspondent accounts is determined in accordance with the requirements specified in Appendix 3.

Chapter 7

Re-issuance and closing of a bank account, bank deposit (deposit) account

50. When re-issuing an account in connection with the reorganization of a legal entity (merger, accession, division, spin-off and transformation), the account holder submits to the bank the same documents as when opening an account for a new legal entity.

When there is a change of name not caused by reorganization, as well as when there is a change of subordination, the account holder submits to the bank an application notifying of the changes, a copy of the decision of the supreme management body and other documents confirming the re-registration of the name in the established procedure.

When there is a change of name and subordination, the account holder submits a new notarized card with specimen signatures and seal impression.

(As amended by resolution of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10)

51. When re-issuing an account in the event of the commencement of liquidation, the following must be submitted to the bank:

the decision of the supreme management body of the legal entity or a body authorized by it, and in the case of bankruptcy - the decision of the meeting of creditors (in the case of an out-of-court declaration of bankruptcy) or a court decision indicating the surname, first name, patronymic of the special administrator (liquidator);
a notarized card with specimen signatures and seal impression.

(As amended by resolution of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10)

52. Closing of an account is performed upon the client's application, unless otherwise provided by the legislation of the Kyrgyz Republic or the agreement. The client's file must indicate the ground for closing the account.

The balance of funds in the account is issued to the client or, upon his written instruction, is transferred to another account no later than five business days.

The bank notifies the client in writing at the last known address of the need to receive the balance of funds, and in the absence of the client the balance of funds is kept in the bank's system accounting (on the balance sheet). At the same time, the funds must be accounted for in a separate consolidated account in the group of demand bank deposits (deposits) (for microfinance companies and credit unions attracting deposits - in the group of deposits) with mandatory off-system accounting for them for each client in accordance with the legislation of the Kyrgyz Republic.

When notifying the client, the bank may additionally use telephone/electronic communication services and send messages to the client's mobile number/email, as well as through the use of internet banking/mobile banking.

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10, 17 October 2018 No. 2018-P-12/43-2, 14 August 2019 No. 2019-P-12/42-1)

52-1. Funds of legal entities under a bank account agreement may be accounted for in a separate consolidated account for at least three years.

Upon expiration of the established period, if the probability of an outflow of funds in connection with clients' requests for the return of funds is low, the bank has the right to write off the above obligations from the balance sheet and account for them indefinitely with mandatory off-system accounting for them for each client.

In the event of a client applying with an application for the return of funds under a bank deposit (deposit) agreement after write-off from the balance sheet, the bank is obliged to reimburse the funds to the client at the expense of its own funds.

(As amended by resolution of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10)

53. The bank has the right to unilaterally terminate the bank account agreement or bank deposit (deposit) agreement with mandatory stipulation of this condition in the agreement and notification of the client one calendar month before closing the account in the event that:

the amount of funds held in the client's account turns out to be below the minimum amount provided for by the bank account agreement;
there are no funds in the client's account for a period determined by the agreement or no operations on the client's instruction have been performed on the account.";

(As amended by resolution of the Board of the National Bank of the Kyrgyz Republic of 15 September 2021 No. 2021-P-12/51-1)

53-1. The bank has the right to unilaterally terminate the bank account agreement or bank deposit (deposit) agreement with mandatory stipulation of this condition in the agreement if:

the client has not submitted the relevant documents necessary for fulfilling the requirements for identification and verification of the client and the beneficial owner, as well as other measures for proper verification of the client and for conducting operations on the account;
the client has not submitted the relevant documents necessary for conducting operations on the account, confirming the economic expediency of the transaction being performed and the reality of the client's carrying out real economic activity;
unreliable documents have been submitted.

(As amended by resolution of the Board of the National Bank of the Kyrgyz Republic of 15 September 2021 No. 2021-P-12/51-1)

54. (Ceased to be in force in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic of 17 May 2017 No. 19/10)

55. In the event that funds are received into a bank account of a client that has been closed:

1) from the holder of the previously closed account - the bank may conclude a new bank account agreement or bank deposit (deposit) agreement with mandatory compliance with the requirements for client identification established by this Instruction;
2) from a third party in the form of cash - the bank must not accept the funds;
3) from a third party in the form of a non-cash payment - the bank must, within the next business day, return the funds back to the sender with a note on account closure.

Appendix 1

to the Instruction on working with bank

accounts, bank deposit accounts

REQUIREMENTS

for the "know your customer" policy

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 10 February 2016 No. 7/2, 17 May 2017 No. 19/10, 17 October 2018 No. 2018-P-12/43-2, 14 August 2019 No. 2019-P-12/42-1, 25 November 2020 No. 2020-P-12/67-2, 15 September 2021 No. 2021-P-12/51-1, 28 December 2022 No. 2022-P-12/83-7, 14 June 2023 No. 2023-P-12/38-4, 27 December 2023 No. 2023-P-12/82-7, 19 December 2025 No. 2025-P-12/68-2-(NPA))

1. The "know your customer" policy determines the procedure for due diligence of customers and includes:

1) the procedure for identifying the customer and the beneficial owner when opening a bank account, a bank deposit account;

The bank is obliged to identify the customer and the beneficial owner.

When identifying the customer and the beneficial owner, a questionnaire is filled out in accordance with the requirements established in the Regulation "On the procedure for conducting due diligence of a customer", approved by resolution of the Cabinet of Ministers of the Kyrgyz Republic of 14 November 2025 No. 739;

2) conducting verification of the customer before and during the opening of a bank account, as well as subsequent verification of information after the opening of the account, in the cases provided for by this Instruction;
3) taking available and reasonable measures to verify the beneficial owner before and during the opening of the account;
4) documenting the information obtained as a result of identification and verification of the customer and the beneficial owner;
5) storing and updating information and documents on the customer's activity and financial position, as well as information and documents obtained as a result of due diligence of the customer, primarily in relation to high-risk customers;
6) conducting, on an ongoing basis, due diligence of the customer throughout the entire period of the business relationship with the customer and analyzing the compliance of operations (transactions) conducted by the customer with the available information on the content of his activity, financial position and the source of funds, as well as on the nature of the customer's risks;
7) monitoring operations on the customer's account and other measures at the bank's discretion.

When conducting due diligence of a customer, the bank is obliged to use a risk-based approach. The scope of due diligence measures must be determined taking into account the customer's risk profile, in particular the level of risk, the purpose of the business relationship, the amount of operations carried out, the regularity or duration of the business relationship.

If a high risk is established, the bank is obliged to apply enhanced due diligence measures for the customer. If a low risk is established, simplified measures may be applied.

2. The customer must provide a complete package of required documents for opening an account and/or conducting a banking operation.

3. The customer identification procedure presupposes establishing the identity of the customer on the basis of an identity document with a photograph (for children under 16 years of age - without a photograph), establishing the beneficial owner, collecting information about the customer and the beneficial owner in accordance with this Instruction.

4. If a third party opens a bank account in the name of the customer, the bank must obtain from the third party information and documents allowing the identification and study of the customer in whose name the account is being opened, and of the third party opening the account, in accordance with the requirements of this Instruction.

For a third party to open an account under a bank account agreement in the name of the customer, documents must also be submitted certifying the authority to open and/or dispose of the account, drawn up in accordance with the requirements of the legislation of the Kyrgyz Republic. Submission of such documents is not required from a representative of a legal entity authorized to open accounts in accordance with the legislation of the Kyrgyz Republic, or the constituent documents of that legal entity, as well as from an individual authorized to open accounts in accordance with the legislation of the Kyrgyz Republic (parents, other legal representatives or third parties).

When opening a bank account and conducting operations on the account of a customer that is a legal entity, the bank must also verify the authenticity of the persons (on the basis of an identity document) who have the right to open and/or dispose of the funds held in the customer's account.

Operations by the bank related to the transfer/withdrawal of funds from the customer's account must be carried out in the presence of the customer himself (the depositor, if the depositor is an individual) or a person who has duly executed documents confirming that he has the relevant authority to execute an instruction on the account (if the depositor is an individual or legal entity). This requirement does not apply to operations conducted via remote access without direct contact.

If the customer has previously submitted to the bank a payment order that was registered in the established procedure on the day of application, indicating a specific date for the transfer of funds, then on the day of transfer the presence of the customer is not required.

At the same time, the bank must take the necessary measures to minimize the bank's operational risks, including those related to fraud.

5. To verify the identity of individuals, the bank uses the original of one of the following documents:

1) for citizens of the Kyrgyz Republic:
- passport of a citizen of the Kyrgyz Republic (ID card or identity document in digital format obtained from state information systems);
- general civil passport of a citizen of the Kyrgyz Republic (for citizens of the Kyrgyz Republic permanently residing outside the Kyrgyz Republic and not holding a passport of a citizen of the Kyrgyz Republic) provided it contains a mark from a diplomatic mission or consular office of the Kyrgyz Republic confirming consular registration in accordance with the requirements of the legislation of the Kyrgyz Republic;
- birth certificate (for opening an account in favor of children under 14 years of age, as well as for opening an account by the child himself/herself at the age of 14 to 16 years);
- officer's or warrant officer's identity card or military ID of a conscript serviceman;
- national-format driver's license containing a personal identification number (PIN), on paper or an identification document in digital format obtained from state information systems (only when replenishing a client's bank account by third parties, as well as by clients themselves who have an account with the bank);
2) for foreign citizens:
- passport of a foreign citizen;
- residence permit in the Kyrgyz Republic;
3) for stateless persons - residence permit in the Kyrgyz Republic;
4) for refugees:
- certificate of registration of an application for recognition of a person as a refugee;
- refugee identity card;
5) for kairylmans - kairylman identity card.

6. (Ceased to be in force in accordance with the resolution of the Board of the National Bank of the Kyrgyz Republic dated 25 November 2020 No. 2020-P-12/67-2)

7. When establishing relations with a client that is a legal entity (resident, non-resident) for conducting operations (transactions) with remote access without direct contact with the client, the bank has the right, taking into account the application of a risk-based approach, to request from the client, in addition to information in accordance with this Instruction, also documents confirming the client's conduct of economic activity in the Kyrgyz Republic (agreements, contracts, customs declarations, tax declarations, etc.).

8. For conducting operations (transactions), the bank must provide in the bank account agreement, bank deposit agreement the client's obligations to comply with legislation on countering the financing of criminal activity and the legalization (laundering) of criminal proceeds, as well as to provide supporting documents for conducted operations at the bank's request.

9. When studying documents, in particular, the constituent documents of a legal entity and documents confirming its state registration, banks, for the purpose of a more thorough study of their client, must pay special attention to the legalization of documents, as well as study:

all constituent documents of the client that is a legal entity, including all registered amendments and additions thereto, as well as other necessary documents confirming the state registration of the client as a legal entity;
the composition of the founders (participants) of the legal entity, identifying persons who have the ability to influence the adoption of decisions by the bodies of the legal entity;
the ownership structure and management bodies of the legal entity and their powers;
the type (nature) of the legal entity's activity.

10. In the procedure established by the bank's internal documents, and within a period not exceeding five working days after opening a bank account, a bank employee must verify the information specified:

1) in the application of an individual using at least one of the following methods:
- confirmation of information from official documents. As a document for confirmation, identity documents listed in paragraph 5 of this Appendix may be used;
- contacting the client by telephone, letter or email to confirm the information provided by the client. In this case, a disconnected telephone, returned letters or non-working email addresses must necessitate continuation of the verification of the received information;
- confirmation of the legality of the client's documents, for example, through embassies, representative offices of the Kyrgyz Republic, a notary;
- by another method at the bank's discretion;
2) in the application of a legal entity, using at least one of the following methods:
- obtaining information from a state body for the purpose of verifying the submitted documents, whether the legal entity has been closed, liquidated or is in the process of liquidation;
- contacting the client by telephone to confirm information after opening the account;
- by another method at the bank's discretion.

11. The bank must initiate additional and enhanced customer due diligence measures if the bank has doubts about the reliability of the information obtained during identification, as well as if:

a significant operation occurs (for example, in an amount exceeding the average balance or turnover on the client's account) and/or an operation not typical for the activity of this client;
significant changes are observed in the manner of conducting work on the client's account;
the bank realizes that it has insufficient available information about the client.

In this case, the bank should make additional requests or verify information, which may include the following:

personal recommendations (for example, from a long-standing client of the bank);
recommendations from a bank that previously serviced this client;
a certificate from the place of employment, official confirmation of the position held (where applicable).

12. When conducting operations on a bank account, the client must indicate the purpose of the payment and provide the bank with payment documents drawn up in accordance with the requirements established by the regulatory legal acts of the Kyrgyz Republic.

The bank has the right to require the client to provide documents confirming the legality and economic expediency of the operation, using a risk-based approach. Such documents may be invoices issued to the client, contracts concluded by the client, payment documents (for example, invoices, bills) etc.

If the client refuses to provide the required documents, the bank must refuse to conduct the operation on the account. This condition must be stipulated in the bank account agreement between the bank and the client.

The bank must establish reasonable time limits for the client to submit additional documents, including information about the counterparty, but not more than 10 (ten) business days, in order to determine the economic expediency and legality of the operations being conducted, as well as the source of origin of the client's funds and the beneficial owner. If the client has not submitted the documents requested by the bank within the established time limits, the bank must refuse the client the operation on the account.

If the client's operations are recognized as suspicious and/or the client has been assigned a high risk level, during the waiting period for the requested documents the bank is not entitled to conduct any operations on the client's account until the client submits the relevant documents.

13. The bank must constantly monitor operations on clients' accounts. The bank must have an understanding of the normal and reasonable activity on its clients' accounts in order to identify operations that are not characteristic of the given client's activity.

The bank should pay attention to the client's operations that are irrational from an economic or commercial point of view, operations with large amounts of cash (for example, exceeding the average turnover on the given client's transactions and operations) and other operations that do not correspond to the client's usual practice.

In order to recognize unusual or suspicious operations, the bank must establish key indicators of such accounts, taking into account general information about the client, for example, information about the country of origin and the source of funds, the type of operation and other risk factors.

For all accounts, banks are recommended to establish information systems for recognizing unusual or suspicious operations.

14. In relation to unusual or suspicious operations, the bank must determine whether the client is acting on behalf of another person and then take steps to obtain data to establish the identity of this other person, the beneficial owner.

When determining the beneficial owner in relation to legal entities, special attention must be paid to shareholders, persons with the right of signature or other persons who have a significant share in the capital, or in any other way exercise control over the client. In the event that the owner is another legal entity, the bank must establish the owners or persons exercising control over the given legal entity.

If necessary, the bank may use sources of information available to it on lawful grounds.

15. The conclusions made by the bank in relation to suspicious operations must be documented and kept for at least five years from the moment of the operation.

Appendix 2

to the Instruction on working with bank

accounts, bank deposit (deposit) accounts

MINIMUM REQUIREMENTS

imposed on the card with specimen signatures and seal impression

(As amended by resolutions of the Board of the National Bank of the Kyrgyz Republic of 25 November 2020 No. 2020-П-12/67-2, 19 December 2025 No. 2025-П-12/68-2-(НПА))

1. The card with signature specimens and an impression of the seal is the main document confirming the authority of certain officials of a legal entity to dispose of funds held in its account, as well as confirming the authenticity of the signatures of the above-mentioned officials.

2. The purpose of the card and its necessity are determined, first of all, by the fact that a signature is a mandatory attribute of documents serving as the basis for the movement of funds on the account of a legal entity. Persons having the right of first and second signature are indicated in the card with signature specimens and an impression of the seal. The right of first signature is held by the head and/or other persons authorized by him. The right of second signature is granted to the chief accountant and/or other authorized persons. The right of first signature cannot be granted to the chief accountant and other persons having the right of second signature.

These powers are granted on the basis of constituent documents, or orders of the heads of the relevant legal entities, branches or representative offices, or other documents on the basis of which such powers were granted. If there are no persons in the staff of a legal entity, branch or representative office to whom the right of second signature can be granted, the document is accepted by the bank with only the first signature specimen, about which an appropriate entry is made in this document.

3. The bank is not entitled to establish correspondent relations with banks, as well as with their affiliated persons, subsidiary banks and separate subdivisions that are not independent legal entities, registered in high-risk countries (including offshore zones), the list of which is approved by a decision of the Commission on Combating the Financing of Criminal Activity and the Legalization (Laundering) of Criminal Proceeds.
4. The bank is not entitled to establish or continue correspondent relations with shell banks. The bank must also take precautions against entering into transactions and operations with foreign correspondent banks that allow shell banks to use their accounts.

In the event that the bank establishes correspondent relations with banks from high-risk countries, the bank's risk of involvement in the financing of criminal activity and the legalization (laundering) of criminal proceeds increases.

The list of high-risk countries is determined by the financial intelligence unit.

5. The card with signature specimens and an impression of the seal must contain a note from the bank on the validity period of the identity document of the persons authorized to dispose of the funds of a legal entity.
6. The bank is required to demand notarization of the signatures of the persons entered in the document with signature specimens and an impression of the seal. In settlements where there are no notaries, the signatures of the persons entered in the document with signature specimens and an impression of the seal are certified by the local executive authority.
7. In the event of a change of name of a legal entity, loss or wear of the seal, the bank is entitled to provide the client with the necessary time to manufacture a new seal. During the period of seal manufacture, a procedure for processing payment documents without the client's seal is established by the bank and the client, which must be specified in the agreement.
8. The required number of copies of the document with signature specimens and an impression of the seal submitted by the client for opening an account is determined by the bank.

At the same time, one of the copies must be constantly kept in the client's file at the bank. The remaining copies in paper or electronic form are stored in the manner established by the bank's internal rules. The electronic version of the card with signature specimens and an impression of the seal must be stored in the bank's automated system.

9. Upon replacement of at least one signature specimen or impression of the seal, a new document with signature specimens and an impression of the seal, certified in the manner specified in this Instruction, is submitted to the bank.
10. Upon a change of officials of a legal entity authorized to dispose of the funds of a legal entity held in its account, a document certifying the authority of the new officials of the legal entity to dispose of the funds of the legal entity and a new document with signature specimens and an impression of the seal, certified in the manner specified in this Instruction, are submitted to the bank.

Appendix 3

to the Instruction on working with bank

accounts, accounts for bank deposits (deposits)

REQUIREMENTS

for the bank's work with correspondent accounts

(In the wording of the resolutions of the Board of the National Bank of the Kyrgyz Republic dated 27 November 2014 No. 53/11, 10 February 2016 No. 7/2, 17 May 2017 No. 19/10, 17 October 2018 No. 2018-П-12/43-2, 14 August 2019 No. 2019-П-12/42-1, 15 September 2021 No. 2021-П-12/51-1, 28 December 2022 No. 2022-П-12/83-7, 27 December 2023 No. 2023-П-12/82-7, 19 December 2025 No. 2025-П-12/68-2-(НПА))

1. Correspondent accounts are divided into two types: "loro" account - an account opened in a bank in the name of its correspondent bank; "nostro" account - an account of a bank opened with its correspondent bank. A "nostro" account in a bank is a "loro" account at the correspondent bank.
2. This Instruction does not regulate the procedure for the bank's work with a correspondent account opened at the National Bank.
3. The bank is not entitled to establish correspondent relations with banks, as well as with their affiliated persons, subsidiary banks and separate subdivisions that are not independent legal entities, registered in high-risk countries (including offshore zones), the list of which is approved by a decision of the Commission on Combating the Financing of Terrorist Activity and the Legalization (Laundering) of Criminal Proceeds on the proposal of the financial intelligence unit and on the basis of the FATF Public Statement.

Note: FATF is an intergovernmental organization (group) for the development and implementation of international standards for combating money laundering, terrorist financing and the financing of weapons of mass destruction proliferation.

The list of high-risk countries is determined by the financial intelligence unit.

4. The Bank is not entitled to establish or continue correspondent relations with shell banks. The Bank must also take precautionary measures against entering into transactions and operations with foreign correspondent banks that allow shell banks to use their accounts.

In the event that the Bank establishes correspondent relations with banks from high-risk countries, the Bank's risk of involvement in activities related to the financing of terrorist activities and the legalization (laundering) of criminal proceeds increases.

5. The Bank is not entitled to establish or continue correspondent relations on accounts in national and foreign currency with resident banks.
6. Paragraph 5 shall not apply to foreign currency guarantee accounts opened for resident banks for the purpose of settlements under international payment systems servicing transactions with plastic cards.
6-1. Paragraph 5 shall not apply to foreign currency accounts opened for resident banks created as a result of the re-registration of microfinance organizations into a bank, for the purpose of ensuring the conduct of their core activities. Such accounts may remain in effect until the moment a resident bank created as a result of the re-registration of microfinance organizations into a bank opens a correspondent account in a non-resident bank, but for no more than six months from the moment of obtaining the banking license.
7. In all cases of establishing correspondent relations, the Bank must carry out the following measures in respect of the correspondent bank with which the Bank intends to establish correspondent relations:
- establishing the fact that the correspondent bank was incorporated in its country in accordance with the legislation;
- establishing in the correspondent relations agreement the obligations and powers of the parties with respect to measures carried out for the purpose of countering the financing of criminal activities and the legalization (laundering) of criminal proceeds;
- obtaining the annual financial report of the correspondent bank (with the conclusion of the audit commission);
- analyzing the measures applied by the correspondent bank for the purpose of countering the financing of criminal activities and the legalization (laundering) of criminal proceeds, including on the basis of information obtained from conversations with employees of the correspondent bank;
- analyzing reports on the assignment of a credit rating to the correspondent bank (if available and the information on the report is available to the public);
- determining the main areas of business of the correspondent bank;
- analyzing the financial condition of the correspondent bank;
- requesting information on whether the correspondent bank has such clients as shell banks, banks registered in the territories of high-risk countries, including offshore zones;
- determining whether the correspondent bank is state-owned or private;
- identifying and verifying the principal owners of private correspondent banks;
- based on publicly available information, conducting an assessment of the reputation of the correspondent bank and determining the presence of a supervisory authority in the area of combating the financing of criminal activity and the legalization (laundering) of criminal proceeds;
- identification and verification of the correspondent bank's data.

When opening a "loro" account, the bank must additionally request the following documents from the correspondent bank:

an application/letter of intent to establish correspondent relations;
a copy of the document confirming the registration of the correspondent bank as a legal entity in the country of origin, legalized and certified in accordance with the requirements of the legislation of the Kyrgyz Republic;
a copy of the license certifying the right of the correspondent bank to carry out operations that the bank intends to conduct within the framework of the established correspondent relations, legalized and certified in accordance with the requirements of the legislation of the Kyrgyz Republic;
information about the expected activity of the correspondent bank that will be carried out through this correspondent account.

After establishing correspondent relations, the bank must monitor information about the correspondent bank on the issues specified in this paragraph. If the bank discovers that the correspondent bank has failed to comply with measures to combat the financing of criminal activity and the legalization (laundering) of criminal proceeds, the bank should take appropriate measures up to and including termination of correspondent relations.

8. The decision to establish correspondent relations, including the opening of a correspondent account, must be made by the head of the bank or a collegial body headed by a member of the bank's Management Board whose competence includes making decisions on this matter. This procedure for making decisions on establishing correspondent relations must be reflected in the bank's internal documents.
9. If the correspondent bank is registered in the territory of a country that is a member of the FATF and has a long-term credit rating assigned by the rating agency Standard and Poor's Corporation of not lower than "BB", or a corresponding rating assigned by Moody's Investors Service or Fitch IBCA, the bank may establish simplified procedures for assessing the creditworthiness, reputation, and analyzing the financial condition of the correspondent bank.
10. All information relating to the establishment of correspondent relations must be documented and stored for at least five years from the moment of termination of correspondent relations.

Instruction on working with bank accounts and bank deposit (deposit) accounts

INSTRUCTION

Chapter 1

General provisions

Chapter 2

Terms and definitions used

Chapter 3

Types of bank accounts, accounts for bank deposits (deposits)

Chapter 4

Legal regime of bank accounts, accounts for bank deposits (deposits)

Chapter 5

Procedure for opening bank accounts under a bank deposit (deposit) agreement

Chapter 6

Procedure for opening bank accounts under a bank account agreement

Chapter 7

Re-issuance and closing of a bank account, bank deposit (deposit) account

REQUIREMENTS

for the "know your customer" policy

MINIMUM REQUIREMENTS

imposed on the card with specimen signatures and seal impression

REQUIREMENTS

Lineage: No known changes

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