Regulation on Pre-trial Dispute Resolution between the National Bank of the Kyrgyz Republic and Commercial Banks, Financial Institutions, and Other Parties

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Date of creation: 2025-07-02

Appendix

to the Resolution of the Board of the National Bank of the Kyrgyz Republic

of May 17, 2017 No. 19/13

REGULATION

on pre-trial dispute resolution between the National Bank of the Kyrgyz Republic and commercial banks, organizations carrying out separate types of banking operations, and their founders (participants), legal and natural persons

(As amended by the Resolutions of the Board of the NBKR of October 17, 2018 No. 2018-P-12/43-2, September 9, 2019 No. 2019-P-33/47-4, November 1, 2019 No. 2019-P-33/55-3, July 14, 2021 No. 2021-P-12/38-3, December 14, 2022 No. 2022-P-12/78-10, January 17, 2024 No. 2024-P-12/1-3, June 27, 2025 No. 2025-P-12/31-1-(NPA))

This Regulation governs the procedure for pre-trial appeal by a bank, including a non-bank financial credit organization, another legal entity (exchange bureau, credit bureau, payment system operator, and payment organization) or natural person, including appeals against decisions on the application of enforcement measures and/or imposition of fines (hereinafter - enforcement measures), 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 Committee on Supervision of the National Bank/Committee on the Payment System of the National Bank (hereinafter - Committee) within the competence provided by the legislation of the Kyrgyz Republic.

Pre-trial appeal of National Bank decisions is mandatory.

Any decisions of the National Bank are subject to pre-trial appeal, except for decisions of the Board of the National Bank, which are appealed to the court, and decisions considered in the manner established by the Law of the Kyrgyz Republic "On the Right to Access to Information".

Pre-trial appeal does not suspend the effect of National Bank decisions.

(As amended by the Resolutions of the Board of the NBKR of September 9, 2019 No. 2019-P-33/47-4, November 1, 2019 No. 2019-P-33/55-3, December 14, 2022 No. 2022-P-12/78-10, January 17, 2024 No. 2024-P-12/1-3, June 27, 2025 No. 2025-P-12/31-1-(NPA))

Chapter 1. General Provisions

1. This Regulation applies in all cases where a bank, legal entity, or natural person, in accordance with this Regulation, intends to appeal a decision of an authorized person (structural subdivision), Deputy Chairman/Member of the Board of the National Bank, or Committee.

2. For the purposes of this Regulation:

"Person or body conducting the proceedings" - Deputy Chairman/Member of the Board, Chairman, and Board of the National Bank.

"Appellant" - a bank, non-bank financial credit organization, other legal entity, or natural person that appeals a decision of an authorized person (structural subdivision), Deputy Chairman/Member of the Board of the National Bank, or Committee, in accordance with the procedure established by this Regulation.

"Bank" - a commercial bank, non-bank financial credit organization, licensed by the National Bank, and/or subject to supervision by the National Bank in accordance with the legislation of the Kyrgyz Republic.

"Legal entity" - an exchange bureau, credit bureau, payment system operator, and payment organization, or any other legal entity that is not a bank or non-bank financial credit organization, subject to supervision by the National Bank in accordance with the legislation of the Kyrgyz Republic.

"National Bank" - the National Bank of the Kyrgyz Republic.

"Responsible structural subdivision of the National Bank" - a structural subdivision of the National Bank determined by the order of the National Bank, within whose competence lies the adoption of National Bank decisions that may be subject to appeal under this Regulation, which initiated the consideration of the appellant's case.

"Authorized person (structural subdivision)" - the head of a structural subdivision of the National Bank or another authorized person of the National Bank, within whose competence lies the adoption of National Bank decisions that may be appealed under this Regulation.

"Decision of the National Bank" - a document adopted by an authorized person (structural subdivision), Deputy Chairman/Member of the Board of the National Bank, or Committee regarding a bank, other legal entity, or natural person, adopted in accordance with the competence provided by the normative legal acts of the Kyrgyz Republic, arising from the functions/powers of the National Bank as a supervisory and regulatory body, including determining enforcement measures, including a decision on the imposition of a fine, as well as decisions related to licensing and regulation.

"Proceedings" - the process of considering an appeal (hereinafter - appeal statement) against a decision of the National Bank in accordance with this Regulation.

"Party" - a bank and/or other legal entity or natural person that may file an appeal statement in accordance with this Regulation, as well as representatives of the National Bank.

(As amended by the Resolutions of the Board of the NBKR of October 17, 2018 No. 2018-P-12/43-2, December 14, 2022 No. 2022-P-12/78-10)

3. The person or body of the National Bank conducting the proceedings considers the appeal statement on its merits within a period not later than 30 (thirty) calendar days from the date of receipt of the appeal statement.

The person or body conducting the proceedings may extend the consideration period of the appeal statement, but not by more than 30 (thirty) calendar days.

4. Any person against whom a decision of the National Bank has been adopted has the right to appeal this decision to the person or body conducting the proceedings in the manner established by this Regulation.

(As amended by the Resolution of the Board of the NBKR of July 14, 2021 No. 2021-P-12/38-3)

Chapter 2. Powers of Persons or Bodies Conducting Proceedings

5. Proceedings are conducted by the Deputy Chairman/Member of the Board, Chairman, or Board of the National Bank.

6. The Deputy Chairman/Member of the Board of the National Bank considers and makes decisions on an appeal statement filed against decisions of an authorized person (structural subdivision) of the National Bank.

The decision of the Deputy Chairman/Member of the Board of the National Bank, adopted on the basis of an appeal statement against a decision of an authorized person (structural subdivision), is subject to appeal to the Chairman of the National Bank in accordance with this Regulation.

7. The Chairman considers and makes decisions on an appeal statement filed against a decision of the Deputy Chairman/Member of the Board of the National Bank, adopted on the basis of an appeal statement against a decision of an authorized person (structural subdivision) of the National Bank.

The Chairman of the National Bank may, at their own discretion, transfer an appeal statement for consideration to the Board of the National Bank.

The decision of the Chairman of the National Bank, adopted as a result of considering the appeal statement, is subject to appeal to the court in accordance with this Regulation.

8. The Board of the National Bank considers and makes decisions on an appeal statement filed against:

• a decision of the Deputy Chairman/Member of the Board of the National Bank arising from the functions/powers of the National Bank as a supervisory and regulatory body;
• a decision of the Deputy Chairman/Member of the Board of the National Bank, adopted on the basis of an appeal statement against a decision of an authorized person (structural subdivision) of the National Bank, in accordance with this Regulation, and transferred by the Chairman of the National Bank for consideration to the Board of the National Bank;
• a decision of the Committee.

The decision on the proceedings is adopted by a simple majority of the votes of the Board members. In case of a tie, the vote of the Chairman of the Board (in the absence of the Chairman - the person performing their duties) is decisive.

The decision of the Board of the National Bank, adopted on the basis of an appeal statement, is subject to appeal to the court in accordance with this Regulation.

(As amended by the Resolution of the Board of the NBKR of October 17, 2018 No. 2018-P-12/43-2)

9. The person and body conducting the proceedings have the right:

1) to request documents from the parties related to the subject of the proceedings;
2) to invite any persons who may provide information on the subject of the proceedings;
3) to make decisions or take actions that may contribute to achieving the goal of the proceedings.

Chapter 3. Procedure for Filing an Appeal Statement

10. The proceedings procedure begins with the receipt of a written appeal statement. The appeal statement must be filed within 20 working days after receiving the decision (notification) of the National Bank.

11. The appeal statement must contain:

1) the name and address, including electronic address, of the bank or other legal entity;
2) the surname, first name, patronymic, place of work, position, place of residence, and electronic address of the appellant, if they are a natural person;
3) the surname, first name, patronymic, work address, electronic address, and phone number of the person representing the interests of the appellant in the proceedings, based on a duly executed power of attorney (a copy of the power of attorney is attached to the statement, the original is provided to the person or body conducting the proceedings);
4) indication of the decision being appealed;
5) a statement of circumstances and arguments that served as the reason for partial or full disagreement with the adopted decision and the reason for the appeal;
6) any objections/disagreement of the appellant regarding the factual or legal justification of the adopted decision;
7) relevant documents confirming the appellant's arguments (if necessary);
8) a full list of persons who will be present at the hearing on the consideration of the appeal statement (hereinafter - hearing), indicating their surname, first name, patronymic, address, and phone number, and a brief summary of the expected arguments of each person, or an indication of the consideration of the appeal statement without the participation of the appellant and their representatives;
9) the signature of the appellant (if the appellant is a bank, the appeal statement may be signed by the Chairman of the Board or the Chairman of the Board of Directors, and in their absence for a valid reason (which must be indicated in the appeal statement and, if possible, confirmed by corresponding documents) - the deputy head with the right to sign on behalf of the bank; if a branch of a foreign bank - the head of the branch, and in their absence for a valid reason (which must be indicated in the appeal statement and, if possible, confirmed by corresponding documents) - the deputy head with the right to sign on behalf of the branch of the non-resident bank; if a legal entity - the head, and in their absence for a valid reason (which must be indicated in the appeal statement and, if possible, confirmed by corresponding documents) - the deputy head having the right to sign on behalf of the legal entity).

(As amended by the Resolution of the Board of the NBKR of July 14, 2021 No. 2021-P-12/38-3)

12. Within 10 calendar days after receiving the appeal statement, the Deputy Chairman/Member of the Board (when appealing a decision adopted by an authorized person (structural subdivision) of the National Bank) or the Chairman of the National Bank (in the absence of the Chairman - the person performing their duties) determines the date of the hearing on the consideration of the appeal statement, but no later than 30 (thirty) calendar days from the date of receipt of the appeal statement.

When filing an appeal statement subject to consideration by the Board of the National Bank, the Secretariat of the Board of the National Bank, no later than the next working day after determining the date of the hearing on the consideration of the appeal statement, sends copies of the appeal statement to the Deputy Chairman/Member of the Board of the National Bank or the Committee, corresponding structural subdivisions, and notifies the parties of the time and place of the hearing.

When considering an appeal statement by the Chairman of the National Bank, the responsible structural subdivision of the National Bank, no later than the next working day after determining the date of the hearing on the consideration of the appeal, sends copies of the appeal statement to the Deputy Chairman/Member of the Board of the National Bank, corresponding structural subdivisions, and notifies the parties of the time and place of the hearing.

When considering an appeal statement by the Deputy Chairman/Member of the Board of the National Bank, the responsible structural subdivision of the National Bank, no later than the next working day after determining the date of the hearing on the consideration of the appeal, sends copies of the appeal statement to corresponding structural subdivisions and notifies the parties of the time and place of the hearing.

Chapter 4. Procedure for Providing Documents and Information During Proceedings

13. Written information and/or documents related to the subject of the proceedings are submitted simultaneously to the person or body conducting the proceedings and all parties to the proceedings (or their representatives previously declared to the National Bank).

14. The person sending written messages and documents must have proof of the fact of sending the message.

15. All information and documents additionally submitted to the person or body conducting the proceedings must contain the surname, first name, patronymic, address, and phone number of the person representing them and the content of the proceedings.

Chapter 5. Preparation for the Hearing on the Consideration of the Appeal Statement

16. Within 25 calendar days after receiving the appeal statement submitted in accordance with paragraph 11 of this Regulation, the responsible structural subdivision and the Legal Department of the National Bank submit an opinion on the received appeal statement to the person or body conducting the proceedings.

The opinion of the responsible structural subdivision and the Legal Department of the National Bank is coordinated with the Deputy Chairman/Member of the Board of the National Bank (coordination is not required when sending the appeal statement to this person conducting the proceedings), and contains the following:

1) written justification of their position;
2) a list of persons wishing to present arguments on the subject of the proceedings, indicating their position;
3) a list and copies of evidence (documents) that will be presented during the proceedings.

The opinion of the responsible structural subdivision and the Legal Department of the National Bank must be submitted to the Deputy Chairman/Member of the Board of the National Bank, the Chairman, or the Board of the National Bank and each other party within the period specified in this paragraph, but no later than 3 working days before the start of the proceedings.

The aforementioned opinion may be sent to the appellant via email. Sending the opinion of the responsible structural subdivision and the Legal Department of the National Bank within the timeframes provided by this paragraph to the email address indicated by the appellant in the appeal statement is considered proper notification of information to the appellant.

(As amended by the Resolutions of the Board of the NBKR of October 17, 2018 No. 2018-P-12/43-2, July 14, 2021 No. 2021-P-12/38-3)

17. The responsible structural subdivision, within 10 calendar days from the moment the National Bank receives the appeal statement, but no later than the date of the hearing determined by the Chairman of the National Bank or the Deputy Chairman/Member of the Board of the National Bank for the consideration of the appeal statement in accordance with paragraph 12 of this Regulation, is obliged, upon receiving the appeal statement, to check the compliance of the appeal statement with the requirements of paragraph 11 of this Regulation. In case the appeal statement does not meet the requirements specified in paragraph 11 of this Regulation, it is left without movement. In this case, the National Bank indicates the deficiencies within a reasonable time and provides the appellant with the opportunity to eliminate them within the general period for appeal. In case a date for the proceedings is set by the person or body conducting the proceedings, the appellant is obliged to eliminate the identified deficiencies (not critical for consideration on the merits) no less than 10 days before the date of the proceedings.

In case of failure to eliminate the deficiencies indicated by the National Bank, the appeal statement is recognized as inadmissible and left without consideration.

(As amended by the Resolution of the Board of the NBKR of October 17, 2018 No. 2018-P-12/43-2)

18. Third parties cannot present arguments and evidence (documents) if they were not declared in accordance with paragraph 11 of this Regulation, without the permission of the person or body conducting the proceedings.

Chapter 6. Conducting the Hearing on the Consideration of the Appeal Statement

19. The hearing is conducted for the purpose of fair and quick resolution of the relevant disputed issues. Each party has the right to present their position through oral arguments and documentary evidence, as well as to ask questions on the facts presented by any other party.

20. Parties have the right to be present at the hearing on the consideration of the appeal statement and present their arguments. The hearing may be conducted in the absence of parties if they have been notified in accordance with paragraph 12 of this Regulation.

21. The person or body conducting the proceedings determines and clarifies all procedural issues related to the proceedings.

22. The hearing is recorded, and a copy of the hearing protocol is provided to all parties to the proceedings upon their written request within 7 working days from the date of receipt of the written request.

(As amended by the Resolution of the Board of the NBKR of October 17, 2018 No. 2018-P-12/43-2)

23. The appellant first presents their position on the case. Representatives of the National Bank present their arguments after the appellant has presented their position on the case.

24. Parties and their representatives, for the purpose of explaining and proving their position, may use illustrative materials in the form of diagrams, charts, descriptions, or others, to summarize, prove, or simplify the presentation of arguments.

25. In making a final decision, the person or body conducting the proceedings may consult with any party or persons who are not parties to the proceedings, provided that such consultation does not result in the disclosure of banking secrecy. In this case, any such consultations must be summarized and included in the materials of the proceedings.

26. Each party is given the opportunity to make a final summary regarding their position based on facts, application of laws, normative legal acts, regarding facts, and any other relevant materials justifying the decision sought by the party.

27. The person or body conducting the proceedings may not admit or may remove from the hearing a party or representative of a party who acts or behaves offensively, disrespectfully, or who does not comply with the established procedure for pre-trial dispute resolution.

Chapter 7. Decision of the Person or Body Conducting Proceedings

28. The decision of the person or body conducting the proceedings indicates:

1) the number and date of adoption of the decision;
2) the name and/or surname, first name, patronymic of the person who filed the appeal statement and/or their representative;
3) a brief summary of the essence of the appealed decision;
4) the appellant's objections regarding the factual or legal justification of the adopted decision;
5) the established circumstances of the case and evidence on which the conclusions of the person or body conducting the proceedings are based, including, if necessary, a brief summary of the opinion of the responsible structural subdivision and the Legal Department of the National Bank;
6) conclusions on the results of considering the appeal statement, including laws and other normative legal acts by which the person or body conducting the proceedings were guided when making a decision on the appeal statement.

29. The Board of the National Bank adopts a decision on the appeal statement in the form of a Resolution of the Board of the National Bank and has the right:

1) to fully or partially satisfy the appeal statement. In connection with this, to cancel or change the previously adopted decision by the Deputy Chairman/Member of the Board of the National Bank or the Committee;
2) to reject the appeal statement and leave the decision previously adopted by the Deputy Chairman/Member of the Board of the National Bank or the Committee in force.

The decision of the Board of the National Bank must not result in the tightening of enforcement measures compared to the enforcement measures that were the subject of the proceedings.

30. The Chairman or Deputy Chairman/Member of the Board of the National Bank makes a decision as a result of considering the appeal statement. The Chairman or Deputy Chairman/Member of the Board of the National Bank has the right:

1) to fully or partially satisfy the appeal statement. In connection with this, to cancel or change the previously adopted decision of the authorized person (structural subdivision);
2) to reject the appeal statement and leave the previously adopted decision of the authorized person/structural subdivision in force.

The decision of the Chairman or Deputy Chairman/Member of the Board of the National Bank must not result in the tightening of enforcement measures compared to the enforcement measures that were the subject of the proceedings.

31. A copy of the decision of the person or body conducting the proceedings is provided to each party to the proceedings under signature or sent to the address indicated by the appellant in the appeal statement within 3 working days from the moment the decision is made.

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