Resolution of the Board of the National Bank of the Kyrgyz Republic of 17 January 2024

No. 2024-P-12\1-3-(NPA)

On amending and repealing certain resolutions of the Board of the National Bank of the Kyrgyz Republic

on issues of activity of OJSC «State Development Bank»

In accordance with Articles 5, 9 and 64 of the Constitutional Law of the Kyrgyz Republic «On the National Bank of the Kyrgyz Republic», the Board of the National Bank of the Kyrgyz Republic resolves:

• 1. To amend the following resolutions of the Board of the National Bank of the Kyrgyz Republic (attached):

  • 1) «On the main requirements for the Audit Committee» of 20 November 2003 No. 32/7;

  • 2) «On approval of the «Procedure for assigning the status of non-accrual of interest income» of 28 April 2004 No. 11/2;

  • 3) «On approval of the Regulation «On classification of assets and corresponding allocations to the reserve for covering potential losses and damages» of 21 July 2004 No. 18/3;

  • 4) «On approval of the Regulation «On requirements for the accounting policy of commercial banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic» of 23 October 2004 No. 26/2;

  • 5) «On approval of the Instruction «On the procedure for complying with the limits of open currency position and open position in precious metals by commercial banks on the territory of the Kyrgyz Republic» of 29 December 2004 No. 36/13;

  • 6) «On approval of the Policy and main principles of antimonopoly regulation, development of competition and protection of consumer rights in the market of banking services of the Kyrgyz Republic provided by commercial banks, other financial and credit organizations, payment system operators and payment organizations licensed and regulated by the National Bank of the Kyrgyz Republic» of 2 March 2005 No. 4/1;

  • 7) «On approval of the Regulation «On minimum requirements for operational risk management in commercial banks of the Kyrgyz Republic» of 15 December 2005 No. 37/5;

  • 8) «On approval of the Regulation «On minimum requirements for market risk management in commercial banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic» of 28 June 2006 No. 19/2;

  • 9) «On approval of the Regulation «On minimum requirements for country risk management in commercial banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic» of 28 June 2006 No. 19/3;

  • 10) «On the Regulation «On determining the dominant position in the banking services market» of 28 March 2007 No. 16/5;

  • 11) «On approval of the Regulation on requirements for the Chart of Accounts for accounting in commercial banks and other financial and credit organizations of the Kyrgyz Republic» of 20 December 2007 No. 54/9;

  • 12) «On approval of the Regulation «On direct banking supervision» of 28 May 2008 No. 22/4;

  • 13) «On approval of the Regulation «On calculation of the effective interest rate when disseminating information on the amount of remuneration for banking services» of 27 August 2008 No. 33/4;

  • 14) «On approval of the «Rules for the creation and/or acquisition of subsidiary or dependent companies by commercial banks of the Kyrgyz Republic» of 10 June 2009 No. 26/3;

  • 15) «On approval of the Regulation «On requirements for the formation of financial statements of commercial banks of the Kyrgyz Republic» of 12 March 2010 No. 6/2;

  • 16) «On certain normative legal acts of the National Bank of the Kyrgyz Republic» of 30 June 2010 No. 52/4;

  • 17) «On certain normative legal acts of the National Bank of the Kyrgyz Republic» of 14 September 2011 No. 52/4;

  • 18) «On approval of the «Procedure for the work of commercial banks and other financial and credit organizations licensed and regulated by the National Bank of the Kyrgyz Republic with pledged property» of 4 July 2012 No. 28/7;

  • 19) «On approval of the Procedure for organizing video surveillance in commercial banks» of 4 July 2012 No. 28/10;

  • 20) «On approval of the Regulation «On certain transactions/operations of commercial banks and microfinance companies of the Kyrgyz Republic with immovable property» of 29 August 2012 No. 36/2;

  • 21) «On approval of the Regulation «On corporate governance in commercial banks of the Kyrgyz Republic» of 17 May 2017 No. 19/12;

  • 22) «On approval of the Regulation «On pre-trial settlement of disputes between the National Bank of the Kyrgyz Republic and commercial banks, organizations carrying out certain types of banking operations, and their founders (participants), legal entities and individuals» of 17 May 2017 No. 19/13;

  • 23) «On approval of the Instruction «On requirements for bank operations with affiliated and related persons of the bank» of 31 May 2017 No. 21/5;

  • 24) «On approval of the Regulation «On licensing of banking activities» of 8 June 2017 No. 2017-P-12/23-1-(NPA);

  • 25) «On approval of the Regulation «On the Temporary Administration» of 8 June 2017 No. 2017-P-12/23-8-(NPA);

  • 26) «On approval of the Regulation on minimum requirements for external audit of banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic» of 15 June 2017 No. 2017-P-12/25-2-(NPA);

  • 27) «On the Regulation «On measures of influence applied to banks licensed by the National Bank of the Kyrgyz Republic» of 15 June 2017 No. 2017-P-12/25-4-(NPA);

  • 28) «On approval of the Regulation «On minimum requirements for risk management in banks of the Kyrgyz Republic» of 15 June 2017 No. 2017-P-12/25-8-(NPA);

  • 29) «On approval of the Regulation «On the procedure for conducting certain banking operations by banks of the Kyrgyz Republic in the event of the introduction of a Temporary Administration regime or the commencement of liquidation procedures» of 15 June 2017 No. 2017-P-12/25-9-(NPA);

  • 30) «On approval of the Instruction on the implementation of banking supervision» of 20 June 2018 No. 2018-P-12/24-2-(NPA);

  • 31) «On the Regulation «On required reserves» of 13 March 2019 No. 2019-P-07/10-1-(DKP);

  • 32) "On approval of the Regulation 'On minimum requirements for the organization of internal control in commercial banks for the purposes of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds', the Regulation 'On the procedure for conducting exchange operations with cash foreign currency in the Kyrgyz Republic' and on introducing amendments and additions to certain regulatory legal acts of the National Bank of the Kyrgyz Republic on issues of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds" dated 14 August 2019 No. 2019-П-12/42-1-(НПА);

  • 33) "On approval of the Instruction on determining standards of sufficiency (adequacy) of capital of commercial banks of the Kyrgyz Republic" dated 12 October 2022 No. 2022-П-12/63-1-(НПА);

  • 34) "On approval of the Regulation 'On economic norms and requirements mandatory for fulfillment by commercial banks of the Kyrgyz Republic' dated 14 December 2022 No. 2022-П-12/78-7-(НПА);

  • 35) "On approval of the Instruction 'On credit restrictions' dated 12 April 2023 No. 2023-П-12/23-5-(НПА).

• 2. To recognize as having lost force the following resolutions of the Board of the National Bank of the Kyrgyz Republic:

  • "On introducing amendments and additions to certain regulatory legal acts of the National Bank of the Kyrgyz Republic" dated 16 November 2012 No. 43/1;

  • "On temporary decisions of the National Bank of the Kyrgyz Republic on regulating the activities of OJSC 'State Development Bank of the Kyrgyz Republic' dated 13 September 2023 No. 2023-П-12/58-3(НПА).

• 3. This resolution enters into force upon the expiration of 15 (fifteen) days from the day of official publication.

• 4. To the Legal Department:

  • from the day of receipt of the relevant documents, within 3 (three) working days, publish this resolution on the official website of the National Bank of the Kyrgyz Republic;

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

• 5. To the Supervision Methodology Department, after official publication, within 3 (three) working days, bring this resolution to the attention of commercial banks, structural subdivisions, regional departments and the Representative Office of the National Bank of the Kyrgyz Republic in Batken oblast.

• 6. To entrust control over the execution of this resolution to the member of the Board of the National Bank of the Kyrgyz Republic supervising the Supervision Methodology Department.

Chairman K. Bokontaev

Annex

to the resolution of the Board

of the National Bank

of the Kyrgyz Republic

dated 17 January 2024

No. 2024-П-12\1-3-(НПА)

On introducing amendments and recognizing as having lost force certain resolutions of the Board of the National Bank of the Kyrgyz Republic on issues of the activities of OJSC 'State Development Bank'

• 1. To introduce into the resolution of the Board of the National Bank of the Kyrgyz Republic "On the main requirements for the Audit Committee" dated 20 November 2003 No. 32/7 the following amendment:

in the Main Requirements for the Audit Committee approved by the above-mentioned resolution:

• to restate paragraph 1.1 as follows:

"1.1. These Main Requirements apply to commercial banks, including those carrying out operations in accordance with Islamic principles of banking and financing, and OJSC 'Financial Company of Credit Unions'.".

• 2. To introduce into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the 'Procedure for assigning the status of non-accrual of interest income'" dated 28 April 2004 No. 11/2 the following amendment:

in the 'Procedure for assigning the status of non-accrual of interest income' approved by the above-mentioned resolution:

• to restate the first paragraph of paragraph 1.1 as follows:

"1.1. This Procedure determines the procedure for assigning the status of non-accrual of interest income on loans and assets bearing credit risk (hereinafter - loans) in commercial banks and other financial-credit organizations regulated by the National Bank of the Kyrgyz Republic, except exchange bureaus (hereinafter - credit organizations).".

• 3. To introduce into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On classification of assets and corresponding deductions to the reserve for covering potential losses and damages'" dated 21 July 2004 No. 18/3 the following amendment:

in the Regulation on classification of assets and corresponding deductions to the reserve for covering potential losses and damages approved by the above-mentioned resolution:

• to restate paragraph 1.1 as follows:

"1.1. This Regulation establishes requirements for the classification of assets and off-balance-sheet liabilities (hereinafter - assets), as well as for the creation of corresponding reserves for covering potential losses and damages (hereinafter - RPPU) for the purposes of regulation and supervision and applies to all commercial banks and guarantee funds (hereinafter - banks).".

• 4. To introduce into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On requirements for the accounting policy of commercial banks and other financial-credit organizations licensed by the National Bank of the Kyrgyz Republic'" dated 23 October 2004 No. 26/2 the following amendment:

in the Regulation on requirements for the accounting policy of commercial banks and other financial-credit organizations licensed by the National Bank of the Kyrgyz Republic approved by the above-mentioned resolution:

• to restate the preamble as follows:

"This Regulation determines the main requirements imposed by the National Bank of the Kyrgyz Republic on the accounting policy of commercial banks, OJSC 'Financial Company of Credit Unions' (hereinafter - FCCU), housing-savings credit companies, guarantee funds, microfinance organizations and credit unions (hereinafter in the text - FCO) in accordance with the current legislation of the Kyrgyz Republic.".

• 5. To introduce the following amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Instruction "On the procedure for complying with the limits of the open currency position and the open position in precious metals by commercial banks on the territory of the Kyrgyz Republic"" of 29 December 2004 No. 36/13:

in the Instruction "On the procedure for complying with the limits of the open currency position and the open position in precious metals by commercial banks on the territory of the Kyrgyz Republic", approved by the above-mentioned resolution:

• the second paragraph of the preamble shall be set out in the following wording:

"This procedure for complying with the limits of the open position applies to all commercial banks (hereinafter - banks).".

• 6. To introduce the following amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Policy and basic principles of antimonopoly regulation, development of competition and protection of consumer rights in the market of banking services of the Kyrgyz Republic provided by commercial banks, other financial and credit organizations, payment system operators and payment organizations licensed and regulated by the National Bank of the Kyrgyz Republic" of 2 March 2005 No. 4/1:

in the Policy and basic principles of antimonopoly regulation, development of competition and protection of consumer rights in the market of banking services of the Kyrgyz Republic provided by commercial banks, non-bank financial and credit organizations, payment system operators and payment organizations, other legal entities licensed and regulated by the National Bank of the Kyrgyz Republic, approved by the above-mentioned resolution:

• item 1.2 shall be set out in the following wording:

"1.2. The National Bank of the Kyrgyz Republic (hereinafter - the National Bank) exercises control over the activities of commercial banks, non-bank financial and credit organizations, payment system operators and payment organizations, other legal entities providing banking services on the basis of a license (certificate) issued by the National Bank, in terms of their compliance with antimonopoly legislation and regulatory legal acts of the National Bank on the development of competition, pricing, protection of consumer rights (hereinafter - antimonopoly legislation) in the market of banking services of the Kyrgyz Republic.".

• 7. To introduce the following amendments to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation "On minimum requirements for operational risk management in commercial banks of the Kyrgyz Republic"" of 15 December 2005 No. 37/5:

in the Regulation "On minimum requirements for operational risk management in commercial banks of the Kyrgyz Republic", approved by the above-mentioned resolution:

• item 1.1 shall be set out in the following wording:

"1.1. This Regulation establishes minimum requirements for the organization of operational risk management that are mandatory for compliance by commercial banks (hereinafter - banks).";

• the first paragraph of item 1.2 shall be set out in the following wording:

"1.2. The Regulation is additional guidance for banks with regard to minimum requirements for policies, procedures and internal control for the purpose of complying with the operational risk management standards established by the Regulation "On minimum requirements for risk management in banks of the Kyrgyz Republic".".

• 8. To introduce the following amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation "On minimum requirements for market risk management in commercial banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic"" of 28 June 2006 No. 19/2:

in the Regulation "On minimum requirements for market risk management in commercial banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic", approved by the above-mentioned resolution:

• item 1.1 shall be set out in the following wording:

"1.1. This Regulation establishes minimum requirements for the organization of market risk management that are mandatory for compliance by commercial banks (hereinafter - banks).".

• 9. To introduce the following amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation "On minimum requirements for country risk management in commercial banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic"" of 28 June 2006 No. 19/3:

in the Regulation "On minimum requirements for country risk management in commercial banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic", approved by the above-mentioned resolution:

• item 1.1 shall be set out in the following wording:

"1.1. This Regulation establishes minimum requirements for the organization of country risk management that are mandatory for compliance by commercial banks (hereinafter - banks).".

• 10. To introduce the following amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On the Regulation "On determining the dominant position in the market of banking services"" of 28 March 2007 No. 16/5:

in the Regulation "On determining the dominant position in the market of banking services", approved by the above-mentioned resolution:

• item 1.2 shall be set out in the following wording:

"1.2. This Regulation determines the actions applied by the National Bank of the Kyrgyz Republic (hereinafter - the National Bank) in the field of antimonopoly regulation, development of competition and protection of consumer rights in the market of banking, microfinancial and payment services (hereinafter - banking services) and operations in the Kyrgyz Republic provided by commercial banks, non-bank financial and credit organizations, payment system operators and payment organizations and other legal entities supervised by the National Bank (hereinafter - persons providing banking services).".

• 11. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation on requirements for the Chart of Accounts for accounting in commercial banks and other financial and credit organizations of the Kyrgyz Republic" of 20 December 2007 No. 54/9:

in the Regulation on requirements for the Chart of Accounts for accounting in commercial banks and other financial and credit organizations of the Kyrgyz Republic, approved by the above-mentioned resolution:

• paragraph 1.1 shall be set out in the following wording:

"1.1. This Regulation establishes requirements for the formation of the Chart of Accounts for accounting (hereinafter - the Chart of Accounts) in commercial banks and other financial and credit organizations (hereinafter - banks) in accordance with the laws of the Kyrgyz Republic "On Banks and Banking Activity" and "On Accounting".".

• 12. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation "On Direct Banking Supervision"" of 28 May 2008 No. 22/4:

in the Regulation "On Direct Banking Supervision", approved by the above-mentioned resolution:

• paragraph 1.1 shall be set out in the following wording:

"1.1. This Regulation applies to commercial banks licensed by the National Bank (hereinafter - bank(s)).".

• 13. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation "On calculation of the effective interest rate when disseminating information on the amount of remuneration for banking services"" of 27 August 2008 No. 33/4:

in the Regulation "On calculation of the effective interest rate when disseminating information on the amount of remuneration for banking services", approved by the above-mentioned resolution:

• paragraph 1.2 shall be set out in the following wording:

"1.2. The purpose of this Regulation is to determine the procedure for calculation by commercial banks and other financial and credit organizations licensed and/or regulated by the National Bank of the Kyrgyz Republic (hereinafter - banks) of interest rates on loans and deposits in a reliable, annual, effective, comparable calculation when disseminating information on the amount of remuneration for banking services.".

• 14. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the "Rules for the creation and/or acquisition of subsidiary or dependent companies by commercial banks of the Kyrgyz Republic"" of 10 June 2009 No. 26/3:

in the "Rules for the creation and/or acquisition of subsidiary or dependent companies by commercial banks of the Kyrgyz Republic", approved by the above-mentioned resolution:

• paragraph 1.1 shall be set out in the following wording:

"1.1. These Rules for the creation and/or acquisition of subsidiary or dependent companies by commercial banks of the Kyrgyz Republic apply to all commercial banks, including banks carrying out operations in accordance with Islamic principles of banking and financing (hereinafter - banks).".

• 15. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation "On requirements for the formation of financial statements of commercial banks of the Kyrgyz Republic"" of 12 March 2010 No. 6/2:

in the Regulation "On requirements for the formation of financial statements of commercial banks of the Kyrgyz Republic", approved by the above-mentioned resolution:

• the first paragraph of paragraph 1 shall be set out in the following wording:

"1. This Regulation determines the components, content and basic rules for the preparation and submission of financial statements by commercial banks, including those having an "Islamic window", by the parent company (head company) of a banking group to the National Bank of the Kyrgyz Republic (hereinafter - the National Bank).".

• 16. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On certain normative legal acts of the National Bank of the Kyrgyz Republic" of 30 June 2010 No. 52/4:

in the Regulation "On minimum requirements for credit risk management in commercial banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic", approved by the above-mentioned resolution:

• paragraph 1 shall be set out in the following wording:

"1. This Regulation applies to all commercial banks, the specialized financial and credit organization OJSC "Financial Company of Credit Unions" and microfinance companies attracting term deposits (hereinafter - banks).".

• 17. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On certain normative legal acts of the National Bank of the Kyrgyz Republic" of 14 September 2011 No. 52/4:

in the Regulation "On banks' work with securities", approved by the above-mentioned resolution:

• paragraph 1 shall be set out in the following wording:

"1. This Regulation applies to commercial banks of the Kyrgyz Republic and microfinance companies attracting deposits, including banks and deposit-taking microfinance companies carrying out operations in accordance with Islamic principles of banking and financing (hereinafter - banks).".

• 18. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Procedure for the work of commercial banks and other financial and credit organizations licensed and regulated by the National Bank of the Kyrgyz Republic with pledged property" of 4 July 2012 No. 28/7:

in the "Procedure for the work of commercial banks and other financial and credit organizations licensed and regulated by the National Bank of the Kyrgyz Republic with pledged property", approved by the above-mentioned resolution:

• paragraph 2 shall be set out in the following wording:

"2. The purpose of this Procedure is the fulfillment of minimum requirements by commercial banks and other financial and credit organizations (hereinafter - banks/FCO) for strengthening credit discipline and real ensuring the repayment of issued loans.".

• 19. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Procedure for organizing video surveillance in commercial banks" dated 4 July 2012 No. 28/10:

in the Procedure for organizing video surveillance in commercial banks, approved by the above-mentioned resolution:

• to restate paragraph 1 in the following wording:

"1. This document defines the main directions for the creation, modernization and development of video surveillance systems (VSS) at commercial bank facilities.".

• 20. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On certain transactions/operations of commercial banks and microfinance companies of the Kyrgyz Republic with immovable property'" dated 29 August 2012 No. 36/2:

in the Regulation "On certain transactions/operations of commercial banks and microfinance companies of the Kyrgyz Republic with immovable property", approved by the above-mentioned resolution:

• to restate the first paragraph of paragraph 2 in the following wording:

"2. This Regulation applies to commercial banks and microfinance companies entitled to attract deposits, including those carrying out operations in accordance with Islamic principles of banking and financing, including banks and microfinance companies entitled to attract deposits with an "Islamic window", taking into account the specifics of their activities and the terminology used by them when carrying out banking operations, OJSC "Financial Company of Credit Unions", housing savings credit companies (hereinafter - banks).".

• 21. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On corporate governance in commercial banks of the Kyrgyz Republic'" dated 17 May 2017 No. 19/12:

in the Regulation "On corporate governance in commercial banks of the Kyrgyz Republic", approved by the above-mentioned resolution:

• to restate the first paragraph of paragraph 1 in the following wording:

"1. The Regulation 'On corporate governance in commercial banks of the Kyrgyz Republic' (hereinafter - the Regulation) applies to all commercial banks (hereinafter - banks)".

• 22. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On pre-trial settlement of disputes between the National Bank of the Kyrgyz Republic and commercial banks, organizations carrying out certain types of banking operations, and their founders (participants), legal entities and individuals'" dated 17 May 2017 No. 19/13:

in the Regulation "On pre-trial settlement of disputes between the National Bank of the Kyrgyz Republic and commercial banks, organizations carrying out certain types of banking operations, and their founders (participants), legal entities and individuals", approved by the above-mentioned resolution:

• to restate the first paragraph of the preamble in the following wording:

"This Regulation governs the procedure for pre-trial appeal by a bank, including a non-bank financial and credit organization, another legal entity (exchange bureau, credit bureau, payment system operator and payment organization) or individual, including appeal against decisions on the application of measures of influence and/or on the imposition of fines (hereinafter - measures of influence), as well as decisions on licensing issues adopted by authorized persons (structural subdivisions), the deputy chairman/member of the Board of the National Bank or the Supervisory Committee of the National Bank/Payment System Committee of the National Bank (hereinafter - the Committee) within the competence provided for by the legislation of the Kyrgyz Republic.".

• 23. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Instruction 'On requirements for bank operations with affiliated and related persons of the bank'" dated 31 May 2017 No. 21/5:

in the Instruction "On requirements for bank operations with affiliated and related persons of the bank", approved by the above-mentioned resolution:

• to restate paragraph 1 in the following wording:

"1. This Instruction has been developed for the purpose of establishing requirements for the activities of banks, including those carrying out activities in accordance with Islamic principles of banking and financing, banks with an Islamic window, OJSC "Financial Company of Credit Unions", when carrying out operations and transactions with affiliated and related persons of the bank.".

• 24. To introduce the following changes into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On licensing of banking activities'" dated 8 June 2017 No. 2017-П-12/23-1-(НПА):

in the Regulation "On licensing of banking activities", approved by the above-mentioned resolution, to recognize as no longer in force:

• the second paragraph of paragraph 1;

• the second paragraph of paragraph 19;

• the second paragraph of paragraph 137;

• the third paragraph of paragraph 329.

• 25. To introduce the following change into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On the Temporary Administration'" dated 8 June 2017 No. 2017-П-12/23-8-(НПА):

in the Regulation "On the Temporary Administration", approved by the above-mentioned resolution:

• to restate the first paragraph of paragraph 1 in the following wording:

"1. This Regulation defines the grounds, procedure, and procedures for introducing and carrying out the Temporary Administration and for carrying out, during the period of the Temporary Administration, the restructuring of commercial banks, microfinance organizations attracting deposits, OJSC "Financial Company of Credit Unions", credit unions attracting deposits, including those carrying out operations in accordance with Islamic principles of banking and financing or having an "Islamic window", housing savings credit companies, credit bureaus, taking into account the special terminology used by them when carrying out banking operations (hereinafter - banks), as well as payment organizations/payment system operators (hereinafter - PO/PSO). At the same time, restructuring procedures are not applied to credit unions and PO/PSO.".

• 26. To introduce the following change to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation on minimum requirements for external audit of banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic" of 15 June 2017 No. 2017-P-12/25-2-(NPA):

in the Regulation on minimum requirements for external audit of banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic, approved by the above-mentioned resolution:

• to restate paragraph 1 as follows:

"1. This Regulation on minimum requirements for external audit of banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic (hereinafter - the Regulation) establishes minimum requirements (criteria) for the audit of banks and microfinance companies, including those operating in accordance with Islamic principles of banking and financing or having an "Islamic window", OJSC "Financial Company of Credit Unions", housing savings and credit companies and guarantee funds (hereinafter - bank).".

• 27. To introduce the following change to the resolution of the Board of the National Bank of the Kyrgyz Republic "On the Regulation 'On measures of influence applied to banks licensed by the National Bank of the Kyrgyz Republic'" of 15 June 2017 No. 2017-P-12/25-4-(NPA):

in the Regulation "On measures of influence applied to banks licensed by the National Bank of the Kyrgyz Republic", approved by the above-mentioned resolution:

• to recognize paragraph two of chapter 1 as having lost force.

• 28. To introduce the following change to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On minimum requirements for risk management in banks of the Kyrgyz Republic'" of 15 June 2017 No. 2017-P-12/25-8-(NPA):

in the Regulation "On minimum requirements for risk management in banks of the Kyrgyz Republic", approved by the above-mentioned resolution:

• to restate paragraph 1 as follows:

"1. This Regulation establishes minimum requirements for the organization of risk management that are mandatory for compliance by commercial banks and guarantee funds (hereinafter - banks).".

• 29. To introduce the following change to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On the procedure for conducting certain banking operations by banks of the Kyrgyz Republic in the event of the introduction of a Temporary administration regime or the commencement of liquidation proceedings'" of 15 June 2017 No. 2017-P-12/25-9-(NPA):

in the Regulation "On the procedure for conducting certain banking operations by banks in the event of the introduction of a Temporary administration regime or the commencement of liquidation proceedings", approved by the above-mentioned resolution:

• to restate paragraph 1 as follows:

"1. This Regulation establishes the procedure for conducting certain banking operations, as well as the conditions for recognition by the National Bank of the Kyrgyz Republic (hereinafter - the National Bank) of irrevocable instructions for the transfer of funds and securities transferred by a bank to a trading and/or payment system in the event of the introduction of a temporary administration regime or the commencement of liquidation proceedings in a commercial bank.".

• 30. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Instruction on the implementation of banking supervision" of 20 June 2018 No. 2018-P-12/24-2-(NPA):

in the Instruction on the implementation of banking supervision, approved by the above-mentioned resolution:

• to restate paragraph one of paragraph 3 as follows:

"3. This Instruction on the implementation of banking supervision (hereinafter - the Instruction) defines the basic principles of external supervision, the goals and types of inspections of the activities of commercial banks, microfinance companies attracting deposits, OJSC "Financial Company of Credit Unions".";

• to restate paragraph two of paragraph 4 as follows:

"banks - commercial banks, microfinance companies attracting deposits, OJSC "Financial Company of Credit Unions".".

• 31. To introduce the following change to the resolution of the Board of the National Bank of the Kyrgyz Republic "On the Regulation 'On required reserves'" of 13 March 2019 No. 2019-P-07/10-1-(DKP):

in the Regulation "On required reserves", approved by the above-mentioned resolution:

• to restate paragraph one of paragraph 1 as follows:

"1. This Regulation establishes requirements for banks to deposit required reserves with the National Bank of the Kyrgyz Republic (hereinafter – the National Bank), determines the amount of required reserves, the procedure for calculation and fulfillment by commercial banks of required reserve requirements (hereinafter – RRR), as well as the procedure for calculating and collecting a fine for non-compliance with RRR.".

• 32. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On minimum requirements for the organization of internal control in commercial banks for the purposes of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds', the Regulation 'On the procedure for conducting exchange operations with cash foreign currency in the Kyrgyz Republic' and on introducing changes and additions to certain normative legal acts of the National Bank of the Kyrgyz Republic on issues of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds" of 14 August 2019 No. 2019-P-12/42-1-(NPA):

in the Regulation "On minimum requirements for the organization of internal control in commercial banks for the purposes of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds", approved by the above-mentioned resolution:

• to restate paragraph 1 as follows:

«1. This Regulation has been developed for the purpose of determining minimum requirements for the organization of internal control in commercial banks, including those operating in accordance with Islamic principles of banking and financing, banks having an Islamic window, microfinance companies attracting deposits, OJSC "Financial Company of Credit Unions", housing savings credit companies (hereinafter - banks), for the purpose of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds (hereinafter - CFT/AML), as well as conducting operations that have signs of suspicious operations.»;

in the Regulation "On the Procedure for Conducting Exchange Operations with Cash Foreign Currency in the Kyrgyz Republic", approved by the above-mentioned resolution:

• the second paragraph of the preamble shall be deemed to have lost force.

• 33. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Instruction on determining standards of sufficiency (adequacy) of capital of commercial banks of the Kyrgyz Republic" dated 12 October 2022 No. 2022-P-12/63-1-(NPA):

in the Instruction on determining standards of sufficiency (adequacy) of capital of commercial banks of the Kyrgyz Republic, approved by the above-mentioned resolution:

• the second paragraph of point 1 shall be set out in the following wording:

«1. This Instruction establishes standards of sufficiency (adequacy) of capital of commercial banks and determines its structure. This Instruction applies to commercial banks, including those having an "Islamic window", as well as to OJSC "Financial Company of Credit Unions" in the part concerning determination of the structure of capital, the procedure for calculating the minimum amount of own (regulatory) capital and capital sufficiency (adequacy) ratios, as well as assessment of balance sheet assets and off-balance sheet liabilities by degree of risk (hereinafter - banks).»;

• the second paragraph of point 39 shall be deemed to have lost force.

• 34. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation "On economic norms and requirements mandatory for fulfillment by commercial banks of the Kyrgyz Republic" dated 14 December 2022 No. 2022-P-12/78-7-(NPA):

in the Regulation "On economic norms and requirements mandatory for fulfillment by commercial banks of the Kyrgyz Republic", approved by the above-mentioned resolution:

• point 1 shall be set out in the following wording:

«1. The Regulation "On economic norms and requirements mandatory for fulfillment by commercial banks of the Kyrgyz Republic" (hereinafter - the Regulation) applies to all commercial banks, including commercial banks conducting operations in accordance with Islamic principles of banking and financing, including banks having an "Islamic window", taking into account the special terminology used by them in conducting banking operations (hereinafter - banks).»;

• point 30 shall be deemed to have lost force;

• the second paragraph of point 35 shall be deemed to have lost force.

• 35. To introduce the following change to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Instruction "On credit restrictions" dated 12 April 2023 No. 2023-P-12/23-5-(NPA):

in the Instruction "On credit restrictions", approved by the above-mentioned resolution:

• point 1 shall be set out in the following wording:

«1. This Instruction applies to all commercial banks (hereinafter - banks).».