Resolution of the Board

of the National Bank

of the Kyrgyz Republic

of 19 December 2025

No. 2025-P-14/68-3-(NPA)

On Amending

Certain Regulatory Legal Acts

of the National Bank of the Kyrgyz Republic

In accordance with Articles 5, 9, 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):

• "On Approval of the Regulation "On the Payment System Committee of the National Bank of the Kyrgyz Republic" of 17 January 2018 No. 2018-P-14/2-6-(PS);

• "On Approval of the Regulation "On the Supervision Committee of the National Bank of the Kyrgyz Republic" of 19 March 2005 No. 6/2;

• "On Approval of the Policy on Supervision (Oversight) of the Payment System of the Kyrgyz Republic" of 15 July 2015 No. 38/4;

• "On Approval of the Regulation "On Licensing of Activities of Payment Organizations and Payment System Operators" of 2 September 2019 No. 2019P14/461-(PS);

• "On Approval of the Instruction "On Conducting Inspectoral Audits of Activities of Payment System Operators and Payment Organizations" of 14 September 2022 No. 2022-P-14/57-1-(PS);

• "On Approval of the Regulation "On Measures of Influence Applied to Payment System Operators/Payment Organizations" of 30 September 2019 No. 2019P14/503-(PS);

• "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;

• "On Approval of the Regulation "On the Temporary Administration" of 8 June 2017 No. 2017-P-12/23-8-(NPA).

2. This resolution enters into force on the day of official publication.

3. The Legal Department shall:

• 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.

4. The Digital Financial Technologies Department shall, within 3 (three) working days from the day of official publication of this resolution, bring it to the attention of commercial banks, payment system operators and payment organizations, the Association of Legal Entities "Union of Banks of Kyrgyzstan", the Association of Legal Entities "Association of Payment System Operators KG (KAY-JI)".

5. The "Secretariat of the Board" Division shall, within 3 (three) working days, bring this resolution to the attention of structural subdivisions, regional departments and the Representative Office of the National Bank of the Kyrgyz Republic in Batken Oblast.

6. Control over the execution of this resolution shall be assigned to the member of the Board of the National Bank of the Kyrgyz Republic supervising the Digital Financial Technologies Department.

Chairman M. Turgunbaev

Appendix
to the resolution of the Board of the National Bank of the Kyrgyz Republic of 19 December 2025 No. 2025-P-14/68-3-(NPA)

Amendments

to Certain Regulatory Legal Acts

of the National Bank of the Kyrgyz Republic

1. 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 the Payment System Committee of the National Bank of the Kyrgyz Republic" of 17 January 2018 No. 2018-P-14/2-6-(PS):

in paragraph 1, the words "Payment System Committee" shall be replaced by the words "Payment System and Digital Financial Technologies Committee";

in the Regulation "On the Payment System Committee of the National Bank of the Kyrgyz Republic", approved by the above-mentioned resolution:

1) the title of the Regulation shall be stated in the following wording:

"Regulation "On the Payment System and Digital Financial Technologies Committee of the National Bank of the Kyrgyz Republic";

2) in paragraph 1, the words "Payment System Committee" shall be replaced by the words "Payment System and Digital Financial Technologies Committee";

3) paragraph 2 shall be stated in the following wording:

"2. The Committee is a permanent collegial body authorized by the Board of the National Bank of the Kyrgyz Republic (hereinafter – the National Bank) in accordance with this Regulation and other regulatory legal acts of the National Bank to take decisions on issues in the sphere of methodology, development of the payment system and digital financial technologies in the Kyrgyz Republic, including services related to virtual assets, as well as implementation of projects related to the introduction and use of the digital som, testing of innovative services/technologies within the framework of the special regulatory regime.";

4) paragraph 3 shall be stated in the following wording:

"3. Decisions taken by the Committee are binding for structural subdivisions of the National Bank, legal entities supervised by the National Bank, as well as other legal entities involved in the implementation of projects related to the testing of innovative services/technologies within the framework of the special regulatory regime (hereinafter – other participants). If necessary, the Committee has the right to initiate the submission of an issue for consideration at meetings of the Board of the National Bank, the Supervision Committee and other authorized collegial bodies of the National Bank.";

5) paragraph 5 shall be stated in the following wording:

"5. The Committee determines the directions, goals and tasks for the development of the payment system and digital financial technologies in the Kyrgyz Republic, the introduction and use of the digital som, the conditions for creating a special regulatory regime for testing and introducing innovative services/technologies, and also exercises control over the implementation/execution of the Committee's decisions.";

6) paragraph 6 shall be stated in the following wording:

"6. The main goal of the Committee is the coordination of work on the development of the payment system and the introduction of digital financial technologies in the Kyrgyz Republic.";

7) to restate paragraph 7 as follows:

"7. The main tasks of the Committee are the adoption of decisions, the development and submission of recommendations (opinions) on the following issues:

    - determination of the main directions for the development of the payment system of the Kyrgyz Republic;

    - introduction of digital financial technologies;

    - coordination of activities to ensure and improve the regulatory legal framework for the development of the payment system of the Kyrgyz Republic and digital financial technologies, including the development of digital non-cash payments and settlements, the use of artificial intelligence and distributed ledger technologies;

    - coordination of cooperation with national (central) banks of other countries on issues of the development of payment systems and the introduction of digital financial technologies;

    - current issues of the functioning and improvement of the payment system, including the introduction and use of the digital som;

    - integration of the payment system of the Kyrgyz Republic with international payment systems and national payment systems of other countries;

    - determination of the operating rules of systemically important payment systems and their individual components;

    - coordination and control over the implementation of the main directions and projects for the development and improvement of the payment system of the Kyrgyz Republic and the introduction of digital financial technologies;

    - review, approval, and adjustment of plans and deadlines for the implementation of projects for the development and improvement of the payment system of the Kyrgyz Republic and innovative payment technologies;

    - interaction of the payment system with interbank trading systems and with foreign payment systems and digital financial technologies;

    - determination of tariffs for the services of payment systems (the Real-Time Gross Settlement System and the Batch Clearing System for Small and Retail Payments), the operators of which are the National Bank;

    - review of draft regulatory legal documents, draft model contracts, and recommendations within the framework of integration projects of payment systems.";

8) to recognize paragraph 8 as having lost force;

9) to restate paragraph 9 as follows:

"9. Within the framework of the development of the payment system and the introduction of digital financial technologies in the Kyrgyz Republic, and the improvement of regulatory documents in the sphere of payment systems and digital financial technologies, in accordance with the assigned tasks, the Committee performs the following functions:

    - review of the main directions for the development of the payment system and digital financial technologies in the Kyrgyz Republic;

    - review of issues related to the current state of the payment system of the Kyrgyz Republic, digital financial technologies and innovations used in the payment and banking systems, and world practice, including the sphere of virtual assets;

    - review of draft state programs and concepts in the sphere of the development of payment systems and digital financial technologies, functional/technical documentation, as well as regulatory documents on the development of the payment system of the Kyrgyz Republic and digital financial technologies, including the development of digital non-cash payments and settlements, the use of artificial intelligence and distributed ledger technologies (if necessary);

    - coordination and interaction with other state bodies, national (central) banks of other countries, foreign payment systems, and other organizations on issues of cooperation for the development of payment systems and the introduction of digital financial technologies;

    - coordination and control over the implementation of the main directions and projects for the development and improvement of the payment system and the introduction of digital financial technologies in the Kyrgyz Republic;

    - review of the analysis of trends in the development of the payment market, digital technologies, and the virtual assets market.";

10) to recognize paragraphs 10 and 12 as having lost force;

11) to restate paragraph 12-1 as follows:

"12-1. Within the framework of the special regulatory regime, according to the Regulation "On the Special Regulatory Regime", the functions of the Committee include:

    - review of documents on the creation or refusal to create a special regulatory regime within the framework of the Regulation "On the Special Regulatory Regime";

    - adoption of a decision regarding the issuance of a license/refusal to issue a license to an applicant within the framework of the special regulatory regime;

    - review and adoption of a decision on the suspension, revocation, and termination of licenses within the framework of the special regulatory regime as a result of violations by the licensee of the legislation of the Kyrgyz Republic, including those identified as a result of inspections;

    - review and adoption of a decision on the extension of licenses within the framework of the special regulatory regime, including based on the results of inspections;

    - adoption of a decision regarding the revocation of a license, including a decision on the termination of licenses on the basis of a corresponding application/notification of the licensee/founder/participant;

    - determination of conditions, including the introduction of restrictions and prohibitions, and the establishment of economic standards within the framework of the special regulatory regime, including based on the results of inspections;

    - initiation of on-site inspections and assessment of the activities of participants within the framework of the special regulatory regime.";

12) to recognize paragraphs 13 and 15 as having lost force;

13) to restate paragraph 17 as follows:

"17. The Committee includes deputy chairmen/members of the Board of the National Bank, and heads or deputy heads of structural subdivisions of the National Bank.";

14) in paragraph 18, to replace the word "workers" with the word "employees";

15) to restate paragraph 19 as follows:

"19. Employees of the National Bank, representatives of organizations supervised by the National Bank, and other organizations, including state bodies, as well as external experts, may be invited to the meetings of the Committee, depending on the issues under consideration.";

16) To restate paragraph 22 in the following wording:

«22. The functions of the secretary of the Committee shall be performed by an employee of the National Bank. Control over the organization of meetings of the Committee and the preparation of documents shall be exercised by the secretary of the Committee. Coordination, organization of work and control over the activities of the secretary of the Committee shall be exercised by the chairman of the Committee.»;

17) In paragraph 24, replace the words and figure «in section 2» with the words and figure «in chapter 2»;

18) To restate paragraph 26 in the following wording:

«26. Meetings of the Committee shall be held on the basis of an approved agenda of the meeting. If necessary, the chairman of the Committee shall have the right to convene an extraordinary meeting of the Committee.»;

19) To restate paragraph 27 in the following wording:

«27. Depending on the issue, the responsible structural subdivision of the National Bank shall submit to the Committee for consideration, in accordance with the Regulations of the Committee, a package of documents, which must include a memorandum of the relevant subdivision addressed to the chairman and members of the Committee, separately for each issue indicated in the draft agenda of the meeting of the Committee, with an analysis and assessment of the state of affairs on the given issue in a brief and consistent presentation. In the event of amendments to a normative legal act of the National Bank, documents must be submitted in accordance with the Regulations of the Board of the National Bank.»;

20) In the first paragraph of paragraph 31, replace the words «Committee on the Payment System» with the word «Committee»;

21) To restate paragraph 33 in the following wording:

«33. A decision of the Committee shall be communicated to the involved structural subdivisions of the National Bank, and, if necessary, to organizations supervised by the National Bank and other participants, in accordance with the Regulations of the Committee, in the form of an extract from the minutes of the meeting of the Committee, an extract from the resolution of the Committee or a copy of the resolution of the Committee.»;

22) To restate paragraph 34 in the following wording:

«34. A protocol instruction of the Committee shall be binding for execution by the structural subdivisions of the National Bank. A protocol instruction shall be drawn up in accordance with the Regulations of the Committee, signed by the secretary of the Committee and communicated to the structural subdivisions of the National Bank in accordance with the distribution list, which is compiled by the person initiating the issue for consideration at a meeting of the Committee.».

2. 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 the Supervisory Committee of the National Bank of the Kyrgyz Republic» dated 19 March 2005 No. 6/2:

in the Regulation «On the Supervisory Committee of the National Bank of the Kyrgyz Republic», approved by the above-mentioned resolution:

1) To restate paragraph 1.1 in the following wording:

«1.1. The Supervisory Committee of the National Bank of the Kyrgyz Republic (hereinafter - the Committee) shall be established by a decision of the Board of the National Bank of the Kyrgyz Republic (hereinafter - the National Bank). The Committee shall be a permanent collegial body, which is authorized by the Board of the National Bank to take decisions on matters within its competence in the sphere of regulation and supervision of the activities of commercial banks (hereinafter - banks), non-bank financial and credit organizations: microfinance organizations, credit unions, housing savings and credit companies, guarantee funds, credit bureaus, specialized financial and credit organizations (hereinafter - NFCO), payment system operators, payment organizations and operators of financial platform services (marketplace), in accordance with paragraphs 2.1., 2.1-1. and 2.2. of this Regulation.

The competence of the Committee shall not include consideration of issues and adoption of decisions relating to exchange bureaus.

For the purposes of this Regulation, the following abbreviations are used:

    - MFC – microfinance company;

    - MCC – microcredit company;

    - MCA – microcredit agency;

    - FCCU – OJSC «Financial Company of Credit Unions»;

    - PSO – payment system operator;

    - PO – payment organization.»;

2) To restate the second paragraph of section 2 in the following wording:

«The Committee shall determine and establish the goals and objectives of activities for regulation, licensing and supervision of the activities of banks, NFCO, PSO, PO and credit bureaus, and shall also exercise control over the implementation of the supervision policy for banks, NFCO, PSO, PO and credit bureaus.»;

3) To restate paragraph 2.1 in the following wording:

«2.1. The Committee, in accordance with the legislation of the Kyrgyz Republic and normative legal acts of the National Bank, shall take decisions on the application and/or termination and/or modification of the following types of measures of influence in respect of banks, NFCO, PSO, PO and credit bureaus:

    - a) instructions;

    - b) imposition of a fine on banks and NFCO, PSO, PO, as well as their officials;

    - c) requirements for banks, NFCO, PSO, PO;

    - d) increase of economic ratios and requirements for banks, NFCO, PSO and PO;

    - e) introduction of restrictions and prohibitions established in the Law of the Kyrgyz Republic «On Banks and Banking Activity» and/or in the legislation of the Kyrgyz Republic for banks and their shareholders, NFCO, PSO, PO;

    - f) removal or dismissal of officials, change of management bodies of a bank, NFCO, PSO and PO;

    - g) introduction of direct banking supervision in accordance with normative legal acts of the National Bank;

    - h) introduction of a temporary administration in PSO, PO, NFCO, with the exception of MFC attracting deposits;

    - i) suspension of the validity/revocation of the license of PSO, PO, NFCO, with the exception of MFC attracting deposits;

    - j) suspension of the validity and/or revocation of the certificate of registration of MCC/MCA;

    - k) annulment of the registration of an operator of an international electronic money system/issuer of international electronic money, except for the cases specified in subparagraphs 1 and 3 of paragraph 116 of the Regulation «On Electronic Money in the Kyrgyz Republic», approved by resolution of the National Bank of the Kyrgyz Republic dated 20 April 2022 No. 2022-П-14/25-3-(ПС).

The Committee shall also take decisions on the termination of the activity of an operator of financial platform services (marketplace) and its exclusion from the relevant register in accordance with normative legal acts regulating the sphere of financial platforms (marketplaces).

The Committee considers other matters delegated to the Committee by the Board of the National Bank, as well as certain matters during the introduction and implementation of the Temporary Administration and liquidation of banks, OPS and PO.

The Committee's decisions are subject to mandatory publication on the following matters:

    - on the introduction of a temporary administration in OPS, PO, NFKO, except for MFK attracting deposits;

    - on the suspension/revocation of the license of OPS, PO, NFKO, except for MFK attracting deposits;

    - on the approval of bank officials;

    - on the approval of the name/change of name of banks;

    - on the suspension and/or revocation of the certificate of registration of MKK/MKA;

    - on the cancellation of the registration of an international electronic money system operator/international electronic money issuer;

    - on the adoption of a decision on the termination of the activity of a financial platform services operator (marketplace);

    - other matters as decided by the Committee.";

4) paragraph 2.1-1 shall be set out in the following wording:

"2.1-1. The Committee considers:

    - on a quarterly basis, information on compliance/non-compliance by banks/NFKO/OPS/PO with economic ratios, requirements and restrictions based on the results of inspections and external supervision, as well as on the results of the application of regulatory supervisory measures in respect of banks, NFKO, OPS, PO, credit bureaus, as well as exchange bureaus, including information from the regional departments of the National Bank and the representative office of the National Bank in Batken oblast;

    - on a semi-annual basis, information on compliance/non-compliance by NFKO, OPS, PO with economic ratios, requirements and restrictions, information on the results of inspections and external supervision, as well as on the results of the application of regulatory supervisory measures in respect of NFKO, OPS, PO and exchange bureaus, submitted by the heads of the supervision departments of the regional departments and the director of the representative office of the National Bank in Batken oblast in the respective regions;

    - not less than once a quarter, a report on supervision (oversight) of the payment system of the Kyrgyz Republic.";

5) paragraph 2.2 shall be set out in the following wording:

"2.2. The Committee considers and adopts decisions on the following matters:

    - a) determination of the policy of banking supervision, supervision of NFKO, OPS, PO and credit bureaus;

    - b) adoption of regulatory supervisory measures in relation to banks, NFKO, OPS, PO, marketplace operators and credit bureaus;

    - c) recognition of the activity of a bank/NFKO/OPS/PO, actions/inaction of officials of a bank/NFKO/OPS/PO as unsound and unsafe banking practice on the basis of information provided by the structural subdivisions of the National Bank, as well as the application, within the competence of the Committee, of the corresponding measure of influence in respect of the bank/NFKO/OPS/PO, its shareholders (participants), officials of the bank/NFKO/OPS/PO whose actions (inaction) are implicated in the unsound and unsafe banking practice;

    - d) approval of officials of commercial banks, including:

      - the chairman and members of the board of directors;

      - the chairman and members of the Shariah Council;

      - the chairman of the Audit Committee;

      - the chairman of the management board (president, general manager, head of a branch of a foreign bank), his deputies (vice-president, deputy general manager, deputy head of a branch of a foreign bank) and other members of the management board responsible for credit activity and/or for financing under Islamic principles;

      - the managing director responsible for credit activity and/or for financing under Islamic principles of banking and financing (in the case where the managing director is not under the supervision of the chairman/deputy chairman/member of the Management Board responsible for credit activity and/or for financing under Islamic principles of banking and financing);

      - the chief accountant;

      - the head of the internal audit service;

      - any other persons equated in their functional duties to the above-mentioned officials, including their deputies;

    - e) approval of officials of FKKS, including:

      - the chairman of the board of directors;

      - the chairman of the management board;

      - the chairman of the Audit Committee;

      - the chief accountant;

      - the head of the internal audit service;

    - f) granting consent to the acquisition of 50 (fifty) or more, 67 (sixty-seven) or more percent of the voting shares of a bank;

    - g) preliminary approval of a new name of a bank;

    - h) determination of further supervisory actions, if necessary, based on the results of an examination of a bank, NFKO, OPS, PO and credit bureaus;

    - i) coordination and strengthening of interaction with other supervisory bodies both domestically and abroad;

    - j) decision on the transfer of relevant materials to law enforcement bodies, as well as to 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 on matters on which decisions were adopted by the Committee;

    - k) informing the public about facts of violation by a bank, NFKO, OPS, PO and credit bureaus of the requirements of the legislation of the Kyrgyz Republic;

    - l) consideration of draft normative legal acts concerning the regulation, supervision and licensing of the activity of banks, NFKO, OPS, PO and credit bureaus, if necessary;

    - m) consideration of matters on antimonopoly regulation, development of competition and protection of the rights of consumers of banking and payment services (including matters of violation of the pricing procedure, including the establishment or maintenance of monopolistically high (low) prices; abuse of a dominant position in the market of banking and payment services);

    - n) consideration of requests from banks on the placement of funds in foreign currency in a deposit account opened with the National Bank;

    - o) on established facts of violation of the legislation of the Kyrgyz Republic;

    - p) consideration of matters on the interpretation (clarification) of decisions adopted by the Committee. The interpretation (clarification) of decisions adopted by the Committee shall be carried out by the Committee by adopting a new resolution. In the interpretation (clarification), the content of the provisions is explained or clarified, as well as functional and other connections with other provisions of the adopted decision of the Committee requiring interpretation (clarification). In the process of interpretation (clarification) of decisions adopted by the Committee, amendments and additions to them are not allowed;

    - c) consideration of risks in the payment system and proposals for their mitigation, adoption of decisions on mitigating risks in the payment system;

    - t) adoption of a decision regarding the issuance of a license/refusal to issue a license to a PSA and/or PO;

    - u) consideration of issues related to supervision (oversight) of the payment system of the Kyrgyz Republic, including:

      - approval of the list of systemically important payment systems, significant payment systems, national payment systems, critical service providers;

      - approval of the results of self-assessment/assessment of systemically important, significant, critical service providers and national payment systems;

      - adoption of decisions on requirements to change policies, regulations, procedures and other internal regulatory documents of the PSA/PO;

      - coordination of interaction between the National Bank and state bodies of the Kyrgyz Republic and central banks of other countries in the field of supervision (oversight) of the payment system;

    - f) other issues delegated to the Committee by the Board of the National Bank.";

6) subparagraphs b) and c) of paragraph 2.4 shall be set out in the following wording:

    - "b) guidance and other documents on supervision of the activities of banks, NFCI, PSA, PO, credit and exchange bureaus;

    - "c) methodological recommendations and instructions, as well as other documents not containing legal norms, concerning the activities of banks, NFCI, PSA, PO, credit and exchange bureaus;";

7) in paragraph 2.5, after the word "NFCI", add the words ", PSA, PO".

3. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Policy on supervision (oversight) of the payment system of the Kyrgyz Republic" dated 15 July 2015 No. 38/4:

in the Policy on supervision (oversight) of the payment system of the Kyrgyz Republic approved by the above-mentioned resolution:

in paragraph 10, the words "on the payment system" shall be replaced by the words "on supervision".

4. 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 licensing the activities of payment organizations and payment system operators'" dated 2 September 2019 No. 2019P14/461-(PS):

in the Regulation "On licensing the activities of payment organizations and payment system operators" approved by the above-mentioned resolution:

    - 1) in the second paragraph of paragraph 13, the words "on the payment system" shall be replaced by the words "on supervision";

    - 2) in paragraph 26, the words "on the payment system" shall be replaced by the words "on supervision";

    - 3) in paragraph 31, the words "on the payment system" shall be replaced by the words "on supervision";

    - 4) the first paragraph of subparagraph 2 of paragraph 37 shall be set out in the following wording:

"2) members of the executive management body were previously officials in an organization licensed by the National Bank, and there are decisions of the authorized collegial bodies of the National Bank or there is a conclusion, decision or other acts of the National Bank (instructions, inspection reports, etc.) recognizing that the candidate:";

    - 5) subparagraphs b) and c) of paragraph 37-1 shall be set out in the following wording:

      - "b) in subparagraphs 2(a) and 2(c) of paragraph 37 of this Regulation – within 3 (three) years from the day the corresponding decision of the authorized collegial bodies of the National Bank, instruction, inspection reports, etc. enters into force;

      - c) in subparagraph 2(b) of paragraph 37 of this Regulation – within 2 (two) years from the day the resolution of the authorized collegial bodies of the National Bank on revocation of the license enters into force;";

    - 6) in paragraph 43, the words "on the payment system" shall be replaced by the words "on supervision";

    - 7) in paragraph 63-1:

      - in the first paragraph, the words "by the Committee on the payment system" shall be replaced by the words "by the Committee on supervision of the National Bank";

      - in subparagraph 1, the words "by the Committee on the payment system" shall be replaced by the words "by the Committee on supervision of the National Bank";

    - 8) in paragraph 63-2:

      - in the first paragraph, the words "by the Committee on the payment system" shall be replaced by the words "by the Committee on supervision of the National Bank";

      - in subparagraph 1, the words "by the Committee on the payment system" shall be replaced by the words "by the Committee on supervision of the National Bank".

5. 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 conducting inspections of the activities of payment system operators and payment organizations'" dated 14 September 2022 No. 2022-P-14/57-1-(PS):

in the Instruction "On conducting inspections of the activities of payment system operators and payment organizations" approved by the above-mentioned resolution:

    - 1) in the third paragraph of paragraph 8, the words "on the payment system" shall be replaced by the words "on supervision";

    - 2) in paragraph 30, the words "on the payment system" shall be replaced by the words "on supervision".

6. 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 measures of influence applied to payment system operators/payment organizations'" dated 30 September 2019 No. 2019P14/503-(PS):

in the Regulation "On measures of influence applied to payment system operators/payment organizations" approved by the above-mentioned resolution:

    - 1) in the first paragraph of paragraph 8, the words "on the payment system" shall be replaced by the words "on supervision";

    - 2) in the twelfth paragraph of paragraph 14, the words "on the payment system" shall be replaced by the words "on supervision";

    - 3) in the first paragraph of paragraph 17, the words "on the payment system" shall be replaced by the words "on supervision";

    - 4) in paragraph 19:

      - in the second paragraph, the words "on the payment system" shall be replaced by the words "on supervision";

      - in the third paragraph, the word "terrorist" shall be replaced by the word "criminal";

    - 5) in paragraph 22, the words "on the payment system" shall be replaced by the words "on supervision";

    - 6) in paragraph 23, the words "on the payment system" shall be replaced by the words "on supervision";

    - 7) in the fourth paragraph of paragraph 24, the words "on the payment system" shall be replaced by the words "on supervision";

    - 8) in paragraph 26, the words "on the payment system" shall be replaced by the words "on supervision";

    - 9) in paragraph 27, replace the words "on the payment system" with the words "on supervision";

    - 10) in paragraph 28, replace the words "on the payment system" with the words "on supervision";

    - 11) in the second sentence of paragraph 32, replace the words "on the payment system" with the words "on supervision";

    - 12) in paragraph 33, replace the words "on the payment system" with the words "on supervision".

7. Introduce the following changes to 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:

in the first paragraph, replace the words "Supervision Committee of the National Bank/Payment System Committee of the National Bank" with the words "Supervision Committee/Payment System and Digital Financial Technologies Committee of the National Bank".

8. Introduce the following changes to 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:

    - 1) restate the eighth paragraph of paragraph 2 as follows:

"Supervision body – structural subdivisions of the National Bank, the Supervision Committee of the National Bank (hereinafter – the Supervision Committee), provided for by the organizational structure of the National Bank.";

    - 2) in paragraph 4:

      - in the first paragraph, exclude the words "/Payment System Committee";

      - in the second paragraph, exclude the words "/Payment System Committee";

    - 3) in paragraph 5, exclude the words "/Payment System Committee";

    - 4) in the fifth paragraph of paragraph 6, exclude the words "/Payment System Committee";

    - 5) in paragraph 8:

      - in the first paragraph, exclude the words "/Payment System Committee";

      - in the thirteenth paragraph, exclude the words "/Payment System Committee";

    - 6) in paragraph 10:

      - in the first paragraph, exclude the words "/Payment System Committee";

      - in the second paragraph, exclude the words "/Payment System Committee";

    - 7) in the sixth paragraph of paragraph 11, exclude the words "/Payment System Committee";

    - 8) restate paragraph 12 as follows:

"12. The Temporary Administration is introduced for a period of up to 6 (six) months. The operation of the Temporary Administration may be extended once by the Board/Supervision Committee of the National Bank for a period of not more than 6 (six) months.";

    - 9) in the first paragraph of paragraph 17, exclude the words "/Payment System Committee";

    - 10) in the first paragraph of paragraph 21, exclude the words "/Payment System Committee";

    - 11) in paragraph 25, exclude the words "/Payment System Committee";

    - 12) in paragraph 26, exclude the words "/Payment System Committee";

    - 13) in paragraph 29, exclude the words "/Payment System Committee";

    - 14) in paragraph 34, exclude the words "/Payment System Committee";

    - 15) in the second paragraph of paragraph 36, exclude the words "/Payment System Committee";

    - 16) in paragraph 40, exclude the words "/Payment System Committee";

    - 17) restate paragraph 41 as follows:

"41. The Temporary Administrator shall monthly, within 10 (ten) working days of the month following the reporting month, submit to the National Bank (addressed to the chairman of the Supervision Committee of the National Bank) a report on the work performed in accordance with appendices 2, 2-1 to this Regulation, with an explanatory note.";

    - 18) in the second paragraph of paragraph 42, exclude the words "/Payment System Committee";

    - 19) in the first paragraph of paragraph 45, exclude the words "/Payment System Committee";

    - 20) in the first paragraph of paragraph 47, exclude the words "/Payment System Committee";

    - 21) in paragraph 48:

      - in the first paragraph, exclude the words "/Payment System Committee";

      - in the seventh paragraph, exclude the words "/Payment System Committee" and "/Payment System Committee";

    - 22) in paragraph 108, replace the words "Supervision Committee/Payment System Committee" with the words "Supervision Committee";

    - 23) restate paragraph 110 as follows:

"110. The Board/Supervision Committee of the National Bank shall take a decision on approval/non-approval of the cost estimate of the Temporary Administration within 30 (thirty) working days from the day of receipt of the said estimate.";

    - 24) restate paragraph 113 as follows:

"113. If it is necessary for the Temporary Administration to incur additional expenses not provided for by the approved cost estimate of the Temporary Administration, the said expenses may be approved by the Board/Supervision Committee of the National Bank upon the request of the Temporary Administrator. The period for the Board/Supervision Committee of the National Bank to take a decision on approval of additional expenses of the Temporary Administration shall not exceed 20 (twenty) working days from the day of receipt of the said request.";

    - 25) in paragraph 115, exclude the words "/Payment System Committee";

    - 26) in the second paragraph of paragraph 117, exclude the words "/Payment System Committee";

    - 27) in paragraph 134, exclude the words "/Payment System Committee";

    - 28) in paragraph 135, exclude the words "/Payment System Committee";

    - 29) in paragraph 137:

      - in the first paragraph, exclude the words "/Payment System Committee";

      - in the second paragraph, exclude the words "/Payment System Committee";

    - 30) in paragraph 138, exclude the words "/Payment System Committee".