Regulation on Minimum Requirements for the Provision of Banking Services and Consideration of Consumer Complaints

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Creation date: 2026-05-01

Approved

by the Resolution of the Board of the National Bank of the Kyrgyz Republic of June 24, 2015 No. 35/10

REGULATION

"On Minimum Requirements for the Procedure for Providing Banking Services and Considering Consumer Complaints"

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, June 8, 2017 No. 2017-P-17/23-7, January 30, 2019 No. 2019-P-33/4-2, February 26, 2020 No. 2020-P-12/8-8, December 28, 2022 No. 2022-P-34/83-9, January 22, 2025 No. 2025-P-12/2-2-(NPA), April 23, 2026 No. 2026-P-12/25-2-(NPA))

Chapter 1. General Provisions

1. This Regulation is developed to protect the rights and legitimate interests of consumers and establishes minimum requirements for the activities of banks, non-bank financial-credit organizations, and other legal entities supervised by the National Bank (entities providing banking services), (hereinafter referred to as "FBO"), in providing banking services and considering consumer complaints regarding these services. It also defines the competence and procedure for interaction between the National Bank and FBOs in the field of consumer rights protection.

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 28, 2022 No. 2022-P-34/83-9)

2. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of June 8, 2017 No. 2017-P-17/23-7)

3. For the purposes of this Regulation, the following terms are used:

1. National Bank - the National Bank of the Kyrgyz Republic;

2. authorized structural subdivision of the National Bank - a structural subdivision of the National Bank authorized to supervise compliance by entities supervised by the National Bank with the legislation of the Kyrgyz Republic in the field of consumer protection of banking services;

3. banking services - operations and services carried out and provided by FBOs in accordance with the legislation of the Kyrgyz Republic;

4. consumer - any natural person (including an individual entrepreneur) who has used, is using, or intends to use banking services;

5. complaint - an oral or written complaint and statement (dispute) by a consumer to an FBO containing information about the violation and/or restoration of their rights, about the violation of requirements of normative legal acts, as well as information regarding banking services, including changes to contract terms;

6. complaint consideration procedure - an internal procedure for considering consumer complaints approved by the executive body of the FBO, including all stages from receipt to substantive consideration;

7. responsible employee of the FBO - an employee (and substitute) in the head office or branch of the FBO responsible for receiving, registering, and considering consumer complaints, and for contacting consumers;

8. book of complaints and suggestions - a special book for recording consumer complaints and suggestions for their subsequent consideration in the established manner;

9. "mystery shopper" event - a special event organized by the authorized structural subdivision of the National Bank to check the procedure and quality of providing banking services.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of June 8, 2017 No. 2017-P-17/23-7, December 28, 2022 No. 2022-P-34/83-9)

4. When providing banking services and considering consumer complaints, FBOs are guided by the following basic principles:

1. legality, honesty, good faith, transparency, reasonableness, fairness, social responsibility;

2. respect and protection of the rights and legitimate interests of consumers, a partnership approach to them;

3. mandatory consideration of complaints and provision of the results of their consideration;

4. timeliness, objectivity, and completeness of complaint consideration;

5. equality of consumers in the consideration of complaints;

6. ensuring the preservation and non-disclosure of information constituting banking secrecy.

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 28, 2022 No. 2022-P-34/83-9)

5. Consideration of consumer complaints is carried out free of charge. FBOs are not entitled to deprive or in any way restrict consumers from contacting them. Refusal to accept complaints is not permitted.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, June 8, 2017 No. 2017-P-17/23-7)

Chapter 2. Requirements for the Procedure for Providing Banking Services

(Name of the chapter in the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 28, 2022 No. 2022-P-34/83-9)

6. Relations between FBOs and consumers are built in accordance with the civil legislation of the Kyrgyz Republic. Consumers are free to choose FBOs and banking services.

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 28, 2022 No. 2022-P-34/83-9)

7. In accordance with the legislation, FBOs are obliged, at the request of a consumer, to provide them with the opportunity to review the charter, as well as the license (certificate) and financial reporting.

8. General terms for providing banking services are open information and cannot be the subject of commercial or banking secrecy. Information about commission fees, tariffs, and interest rates for providing banking services must be open and accessible to consumers.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, December 28, 2022 No. 2022-P-34/83-9)

9. Before concluding any contract for the provision of banking services, the consumer must be provided with full disclosure of information about the services provided. Refusal to provide information about the terms and cost of services is not permitted. FBOs are obliged to take all measures to bring to the consumer's attention information about the terms of the services provided, risks associated with them, consequences and liability provided for by legislation.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, December 28, 2022 No. 2022-P-34/83-9)

10. Information about changes to the general terms for providing banking services, excluding information on interest rates and exchange rates, must be published in the media or on internet sites no less than ten working days before they enter into force, as well as be constantly displayed on information boards of the FBO. Information about changes in interest rates and exchange rates is published immediately.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, June 8, 2017 No. 2017-P-17/23-7, December 28, 2022 No. 2022-P-34/83-9)

11. Contracts concluded with clients must comply with the banking and other legislation of the Kyrgyz Republic. Contracts concluded with clients in accordance with Islamic principles of banking and financing must also comply with Sharia standards. Contract texts must be printed in the same font of no less than size 12, expressed as clearly and accessibly as possible for consumers to perceive and understand. At the consumer's choice, the contract text is drawn up in the state or official language, and the consumer must be informed of this before concluding the contract. At the discretion of the FBO, the contract text may be translated into another language with the mandatory preparation of a copy of the contract in the state or official language, which shall have precedence.

Before signing the contract (agreement), the consumer has the right to receive a copy of the draft contract (agreement) with all attached documents for review outside the FBO for a period of one to three days, and the consumer must be informed of this before signing the contract.

Contracts and other agreements concluded with the client are drawn up at the client's choice in the state or official language, confirmation of which will be the client's written or electronic consent to draw up the contract in the chosen language. This consent is stored in the client's file.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, June 8, 2017 No. 2017-P-17/23-7, December 28, 2022 No. 2022-P-34/83-9)

12. At the request of a consumer, the FBO provides free of charge for review information on the general terms for providing banking services, including:

1. procedure for providing banking services to consumers;

2. rights and obligations of the FBO and the consumer, their liability;

3. rates, tariffs, and commission fees for FBO operations;

4. maximum rates and conditions for payment of rewards on deposits and loans;

5. maximum amounts and terms of accepted deposits and provided loans;

6. requirements for collateral accepted by the FBO for loans;

7. procedure for considering consumer complaints (appeals) arising in the process of providing banking services;

8. other conditions, requirements, and restrictions that the FBO deems necessary to include in the general terms for providing banking services.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, December 28, 2022 No. 2022-P-34/83-9)

13. FBOs are not entitled to impose any restrictions on depositors not provided for by legislation. Unilateral change by the FBO of the terms of a bank deposit contract is not permitted if it infringes upon the rights and legitimate interests of the depositor.

14. Before concluding a bank deposit contract, the FBO provides the consumer with the following information in oral form:

1. type of deposit (on demand, term, conditional);

2. term of the deposit (if any);

3. minimum amount (minimum balance) of the deposit;

4. reward rates;

5. conditions for extending the deposit term without concluding an additional agreement;

6. possibility of replenishing the deposit (capitalization);

7. conditions for full or partial early withdrawal of the deposit;

8. guaranteed deposit amount established by law;

9. conditions for interest payment;

10. tariffs and commission fees of the FBO for the deposit (if provided).

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3)

15. Before concluding a loan contract, the FBO provides the consumer with the following information in oral form:

1. term of the loan provision;

2. maximum amount and currency of the loan, including possible currency risks;

3. size of the interest rate in annual nominal terms, as well as the size of the annual effective interest rate on the date of providing information;

4. exhaustive list and sizes of commissions, tariffs, and other fees related to obtaining and servicing the loan;

5. liability and risks of the consumer in case of non-performance of obligations under the loan contract;

6. liability of the mortgagor, guarantor (surety), and any other person who is a party to the loan contract;

7. sizes of one-time regular payments on the loan (typically paid monthly);

8. total cost of the loan, in absolute value, showing separately the principal amount of the loan, interest, commission fees, and other payments related to the conclusion and execution of the contract;

9. rights of the consumer provided for in Section 3 of the Key Data Sheet on Potential Credit according to Appendix 1 to this Regulation.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, June 8, 2017 No. 2017-P-17/23-7)

16. When a consumer - potential borrower - applies for a loan, the FBO is obliged to fill out the Key Data Sheet on Potential Credit free of charge together with the consumer strictly in accordance with the form according to Appendix 1 to this Regulation and provide it to the consumer, except in cases of providing consumer loans. The consumer has the right to keep the filled Key Data Sheet to compare information on services from other FBOs.

When a consumer - potential borrower - applies for a consumer loan, the FBO provides them with an information sheet in accordance with the requirements of the Law of the Kyrgyz Republic "On Consumer Credit".

An application in this paragraph is not considered an application for a loan.

The Key Data Sheet on Potential Credit must be printed in the same font. Cells in which the loan amount, interest in monetary terms, and total cost of loan servicing are indicated, as well as the total cost of the loan, must have a distinctive light-colored background (other than white). The thickness (width) of the line of the cell in which the total cost of the loan is indicated must be no less than 3 pt.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, from April 23, 2026 No. 2026-P-12/25-2-(NPA))

17. A loan contract must comply with the legislation of the Kyrgyz Republic and contain all mandatory requirements imposed by law and normative legal acts of the National Bank.

18. During the loan servicing period, the FBO, upon oral or written request of the borrower within three working days from the date of receiving the request, free of charge (if not more than once a month or a shorter period provided for by the contract or FBO rules) provides them with oral or written information:

1. on the amount of funds paid out on the loan;

2. on the size and terms of subsequent payments;

3. on the amount of overdue debt;

4. on the distribution of incoming funds towards repayment of the loan debt;

5. on the amount due for repayment in case of partial or full early repayment of the loan;

6. on the remaining principal debt;

7. on the credit limit.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, February 26, 2020 No. 2020-P-12/8-8)

19. The FBO collects loan debt in the manner and on the grounds provided for by legislation and the loan contract.

For the purpose of collecting loan debt, the FBO duly notifies the borrower of the need to repay the debt and the consequences of non-performance of loan obligations. The debt notification must contain brief information for the borrower about the amount of debt, indicating the principal amount, accrued interest, commission, penalty, and other payments (if any). It is not permitted to hand over notifications and make oral reminders by phone from 10 PM to 6 AM local time.

20. Assignment of the claim on a loan may be carried out exclusively with the consent of the borrower (debtor). It is not permitted to include in the loan contract the right of the FBO (creditor) to assign the claim on the loan, regardless of the borrower's consent. The assignment of the claim on the loan is оформляется (documented) by a separate agreement.

The requirements of this paragraph do not apply in cases where financial-credit organizations provide a loan portfolio as collateral.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, January 30, 2019 No. 2019-P-33/4-2)

21. When providing consumer loans, FBOs are obliged to observe the principles of responsible lending: good faith, transparency, accuracy, partnership towards borrowers, taking into account their economic interests and financial capabilities, and ensure unconditional fulfillment of the following requirements:

1. the nominal and effective interest rates on the loan must not exceed the values of the declared (published) nominal and effective interest rates on the date of loan issuance. Accrual of interest payments begins no earlier than the day of concluding the loan contract at the nominal rate on the reducing balance of the principal loan amount;

2. before concluding the loan contract, full disclosure to consumers (potential borrowers) of exhaustive information about the terms of providing loans must be ensured, and information about the total cost of the loan in absolute value must be provided, showing separately the principal amount of the loan, interest, commission fees, and other payments related to the conclusion and execution of the contract;

3. before concluding the loan contract, the real solvency of the borrower must be carefully studied, including their personal data, employment indicators, income of family members taken into account in the analysis, expense volumes, number of dependents, and other indicators;

4. the borrower, guarantor/surety, and mortgagor must be explained under signature the consequences of non-performance or improper performance of their accepted obligations and liability under the loan contract;

5. it is prohibited to include in the loan contract additional fees, commissions, and other payments, penalty sanctions, beyond those provided for by the legislation of the Kyrgyz Republic, as well as other ancillary services for a fee, regardless of agreement with the borrower.

The service for which the FBO charges commissions and other payments must meet the following requirements:

• have separate benefit or consumer value for the client;
• be independent and separate from the main service of providing the loan;
• not relate to services provided free of charge in accordance with the requirements of legislation.

It is not permitted for the FBO to charge interest and commissions for the same operation.

Penalty (fine/late fee) and other penalty sanctions are charged by the FBO from the client only for non-performance/improper performance by the client of their obligations under the loan contract and/or other agreements;

6. the loan contract must provide for the right to refuse to receive the loan free of charge during the period after concluding the contract and before the borrower receives the funds;

a lease contract must provide for the right of the lessee to refuse to receive the lease (lease item) free of charge during the period after concluding the lease contract and before the bank makes the first payment (including advance) for the lease item purchased for the lessee;

7. the loan contract (lease contract) must provide for the right of the borrower to early repayment of the loan (lease) at any time without any commissions, penalty sanctions, and other payments in accordance with the requirements of the legislation of the Kyrgyz Republic;

8. the size of the interest rate on the penalty (fines, late fees) for overdue debt on the principal amount of the loan and interest must not exceed the interest rate on the loan indicated in the contract; at the same time, the size of the penalty (fines, late fees) accrued for the entire period of the loan's action must not exceed ten percent of the amount of the issued loan. Accrual of penalties is suspended for six months from the date of the borrower's death;

9. the only residential premises serving as collateral are subject to collection exclusively through court proceedings and are realized through public auctions, except in cases provided for by legislation. It is not permitted to include in contracts and agreements an arbitration (court) clause on recourse to the collateral item.

See:

Decision of the Constitutional Chamber of the Supreme Court of the Kyrgyz Republic of October 30, 2019 No. 13-r

10. FBOs are not entitled to unilaterally change or supplement the terms of the loan contract if this worsens the rights and/or increases the obligations of the borrower;

11. mortgaged real estate in the form of residential premises is realized exclusively through public auctions, unless the agreement of the parties provides for another method of realization in the process of recourse to the collateral item.

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3, June 8, 2017 No. 2017-P-17/23-7, January 30, 2019 No. 2019-P-33/4-2, February 26, 2020 No. 2020-P-12/8-8, December 28, 2022 No. 2022-P-34/83-9, January 22, 2025 No. 2025-P-12/2-2-(NPA))

22. When advertising, publishing, and disseminating information about the cost of credit products, it is necessary to indicate both nominal and effective interest rates, as well as the size of commission fees.

23. It is not permitted to use credit products that distort the cost of services and provide for indexing of loan payments linked to a currency other than the currency of the loan contract.

Chapter 3. Requirements for the Procedure for Considering Consumer Complaints

24. The FBO is obliged to have a complaint consideration procedure. The complaint consideration procedure must comply with this Regulation, legislation, and normative legal acts of the National Bank and may provide for other norms not contradicting them. Information about the presence of a complaint consideration procedure in the FBO, methods (channels) for submitting complaints, as well as the book of complaints and suggestions, must be placed in a visible and accessible place for consumers to view (information boards, etc.). An electronic version of the complaint consideration procedure (in part concerning the consumer) must also be placed on the official internet site of the FBO (if available), with a link to it on the main page of the official internet site of the FBO. At the request of a consumer, the FBO is obliged to explain the established procedure for considering complaints to them.

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3)

25. A consumer's complaint is considered by the FBO in the manner established by the internal procedure. The FBO is obliged to ensure objective, comprehensive, and timely consideration of complaints and to inform applicants of the results in the established manner.

26. Consumer complaints may be oral (by phone and in person) or written, delivered in person, by mail, to the FBO's email, or recorded in the book of complaints and suggestions.

All received written consumer complaints are initially considered by the head, another authorized member of the executive body of the FBO, or the head of the FBO branch. The procedure for their subsequent consideration is established by the complaint consideration procedure.

27. Responsible employees for working with consumer complaints are appointed in the head office and branches of the FBO.

For the continuity and efficiency of work with consumers, the FBO is obliged to ensure the possibility of their complaints in any of its offices.

28. The responsible employee registers written consumer complaints in the complaint register, submits them for consideration by the FBO management, and monitors the timely preparation of a response to the consumer. The FBO is obliged to maintain a statistical database of all consumer complaints for its own analytical purposes and for reporting to the National Bank.

29. The responsible employee or another FBO employee provides consumers with oral consultations by phone, if necessary connects them by phone with other FBO employees by competence, assists in drafting a written complaint, and performs other functions provided for by the complaint consideration procedure.

30. Any territorial office of the FBO, except the head office and branch, after accepting a consumer complaint, transfers it to the responsible employee of the head office or branch of the FBO for registration and consideration in the established manner.

31. The book of complaints and suggestions must be in every office of the FBO (head, branch, savings account, and others). The book of complaints and suggestions must be numbered, bound, certified by signature, and sealed with the FBO seal. The responsible employee of the FBO daily at the end of the day extracts information from the book of complaints and suggestions (if complaints were received), registers it for the next day, and submits it for consideration by management in the manner established by the procedure. Employees of other FBO offices (except the head office and branches) daily at the end of the day extract information from the book of complaints and suggestions (if complaints were received) and transfer it to the responsible employee of the FBO for registration and consideration in the established manner.

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of August 24, 2016 No. 35/3)

32. In all consumer complaints, regardless of form, the surname, first name, patronymic of the consumer, address, contact details, and the essence of the complaint must be indicated. In written complaints, the personal signature of the consumer is affixed (except for electronic... [Text ends here]