Resolution of the Board of the National Bank of the Kyrgyz Republic dated December 29, 2025 No. 2025-P-12/71-3-(NPA) on Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

RESOLUTION OF THE BOARD OF THE NATIONAL BANK OF THE KYRGYZ REPUBLIC

dated December 29, 2025 No. 2025-P-12/71-3-(NPA)

On Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

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. Make amendments to the following Resolutions of the Board of the National Bank of the Kyrgyz Republic (attached):

1. "On Rules regulating the activities of microfinance organizations in the territory of the Kyrgyz Republic" dated February 19, 2003 No. 4/2;

2. "On Approval of the Regulation "On Periodic Regulatory Report of a Microcredit Company/Microcredit Agency" and the Regulation "On Periodic Regulatory Report of a Microfinance Company"" dated May 27, 2009 No. 25/3;

3. "On Approval of the Rules regulating the activities of microfinance organizations carrying out operations in accordance with Islamic principles of banking and financing" dated May 30, 2014 No. 24/11;

4. "On Approval of the Provisions of the National Bank of the Kyrgyz Republic" dated October 17, 2014 No. 45/1;

5. "On Approval of the Rules regulating the activities of guarantee funds" dated February 28, 2024 No. 2024-P-12/8-3-(NPA).

2. 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.

3. This Resolution enters into force on April 1, 2026.

4. The Supervision Methodology Department, within 3 (three) working days from the day of official publication, bring this Resolution to the attention of microfinance organizations, JSC "Guarantee Fund", and OYUL "Association of Microfinance Organizations".

5. The "Board Secretariat" Department, within 3 (three) working days, bring this Resolution to the attention of the Non-Banking Organizations Supervision Department, regional departments, and the Representative Office of the National Bank of the Kyrgyz Republic in the Batken Region.

6. Control over the execution of this Resolution is entrusted to the Member of the Board of the National Bank of the Kyrgyz Republic overseeing the Supervision Methodology Department.

Chairman of the National Bank of the Kyrgyz Republic		M. Turgunbaev

		Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated December 29, 2025 No. 2025-P-12/71-3-(NPA)

AMENDMENTS to certain regulatory legal acts of the National Bank of the Kyrgyz Republic

1. Make the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Rules regulating the activities of microfinance organizations in the territory of the Kyrgyz Republic" dated February 19, 2003 No. 4/2:

in the Rules regulating the activities of microfinance organizations in the territory of the Kyrgyz Republic, approved by the aforementioned Resolution:

1. amend paragraph 1.8 as follows:

"1.8. MFOs must carry out accounting of their operations and prepare financial statements in accordance with the requirements of regulatory legal acts of the National Bank.";

2. in paragraph 2.1:

• add a third sentence to the eighth paragraph as follows:

"This restriction does not apply to loans issued within the framework of implementing other property of an MFC converted from a commercial bank.";

• add sub-paragraph 2.1.2 as follows:

"2.1.2. Microfinance companies not accepting deposits are obliged to comply with economic indicators and restrictions established by the National Bank, including:

• minimum paid-up charter capital;

• minimum own capital ratio;

• maximum total size of microcredit;

• maximum total size of investments in microfinance organizations, leasing companies, and banks;

• maximum total size of funds borrowed from founders (shareholders) - natural persons;

• maximum total size of funds borrowed from founders (shareholders) - legal entities;

• maximum size of investments in property (fixed assets);

• maximum size of issuance of debt securities.";

3. in paragraph 2.3:

• amend sub-paragraph 2.3.1 as follows:

"2.3.1. Calculation of own capital of an MFC (as of the assessment date) is based on the following indicators:

• ordinary shares;

• preferred shares;

• capital contributed in excess of nominal value;

• additional capital contributed by natural and legal persons;

• reserves for future needs;

• perpetual subordinated debt.

Perpetual subordinated debt is understood as an unsecured obligation that has no maturity dates, must not be redeemed early at the request of creditors, and claims on which in the event of liquidation of an MFC are satisfied last after satisfying all claims of creditors, but before settlement with shareholders of an MFC. An MFC must at all times have the full right to cancel the payment of interest on subordinated debt. Perpetual subordinated debt may be redeemed by the initiative of an MFC only after a minimum term of not less than five years, after obtaining prior permission from the National Bank, as well as if redemption does not lead to a violation of indicators;

• undistributed profit/losses of previous years;

• current year losses;

• minus investments in capital (shares, equity participation) of other microfinance organizations, leasing companies, and banks.

In this case, investments in capital (shares, equity participation) are understood as the balance of actually invested funds in the capital of microfinance organizations, leasing companies, and banks.";

• amend the sixth paragraph of sub-paragraph 2.3.2 as follows:

"UK - minimum charter capital established by the Resolution of the Board of the National Bank "On the Minimum Size of Charter Capital of Non-Banking Financial and Credit Organizations" dated October 5, 2022 No. 2022-P-33/61-2-(NFKU) for newly opened and operating MFCs not accepting deposits, respectively.";

4. amend sub-paragraph 2.4.1 of paragraph 2.4 as follows:

"2.4.1. MFCs may carry out investments only in microfinance organizations, leasing companies, and banks.";

5. add a second paragraph to paragraphs 2.4-5 as follows:

"This restriction, as well as its value, may be established individually for a specific MFC by decision of the Supervision Committee of the National Bank.";

6. amend the sixth and seventh paragraphs of sub-paragraph 2.5.1 of paragraph 2.5 as follows:

№	Name of Item	Total	Foreign Currency
A	ASSETS
1	Cash
1.1	including in foreign currency
2	Account at NBKR
3	Settlement accounts in other banks and financial-credit organizations
4	Deposits in other banks and financial-credit organizations
4.1	including deposits placed in FCOs as collateral in the amount of attracted funds in national currency for the purpose of hedging currency risks
5	Securities
5.1	including non-state debt securities
6	Loans to financial-credit organizations
	in t.ch.: a) factoring operations
	b) loans to MFOs/leasing companies/banks, in the capital (shares, equity participation) of which investments of MFCs are placed
7	Loans and financial leasing to clients
	in t.ch. factoring operations
8	MINUS: Special reserve for covering potential credit and leasing losses and losses
9	Net loans and financial leasing, leasing (line 6 - line 8)
10	Fixed assets, in t.ch.:
a)	land and buildings
b)	other fixed assets
11	Intangible assets, in t.ch.:
11.1	Intangible assets related to technical and software products aimed at increasing the number of clients and service coverage
12	Alienated assets
a)	real estate of the borrower, accepted in repayment of the asset
b)	other property of the borrower, accepted in repayment of the asset
13	Capital investments in non-consolidated companies
14	Other assets
a)	Accrued interest receivable
b)	prepaid payment
c)	unexplained debtor balances
d)	other other assets
e)	MINUS: Reserve for covering possible losses and losses on other assets
15	TOTAL: ASSETS

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________";

• subsection B-2. Report on operations carried out under IIF to be presented in the following edition:

"Section 1. Regulatory report on the financial condition

B-2. Report on operations carried out under IIF

thousands of soms

	Name of Item	Total	Foreign Currency
	A. Assets
1	Account at the National Bank
2	Settlement accounts in other banks and FCOs
3	Accounts (deposits) in other banks and FCOs:
	a) under a limited mudaraba agreement
	b) under an unlimited mudaraba agreement
	c) under a qard agreement
3.1	including deposits placed in commercial banks as collateral in the amount of attracted funds in national currency for the purpose of hedging currency risks
4	Securities
4.1	including non-state debt securities
5	Financing provided to banks and FCOs:
	a) under a limited mudaraba agreement
	b) under an unlimited mudaraba agreement
	c) under a musharaka/musharaka agreement
	c1) under a diminishing musharaka agreement
	d) under a murabaha agreement
	e) under an ijara/ijara muntaqiyah bit tamlik agreement
	f) under a salam agreement
	g) under a qard agreement
	h) financing of MFOs/leasing companies/banks, in the capital (shares, equity participation) of which investments of MFCs are placed
6	Financing provided to other clients
	a) under a limited mudaraba agreement
	b) under an unlimited mudaraba agreement
	c) under a musharaka/musharaka agreement
	c1) under a diminishing musharaka agreement
	d) under a murabaha agreement
	e) under an ijara/ijara muntaqiyah bit tamlik agreement
	f) under a salam agreement
	g) under a qard agreement
	h) under an istisna'a agreement
7	MINUS: Special RPPU
8	Net financing (line 5 + line 6 - line 7)
9	Assets/inventory for subsequent transfer to clients:
	a) real estate
	b) movable property
10	Other property
	a) client's real estate, accepted in repayment of received financing
	b) other client's property, accepted in repayment of provided financing
11	Other assets
12	TOTAL ASSETS

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________";

• subsection B. Liabilities to be presented in the following edition:

"Section 1. Regulatory report on the financial condition

thousands of soms

№	Name of Item	Total	Foreign Currency
B	LIABILITIES
16	Time deposits of legal entities
17	Time deposits of individuals
18	Received loans and borrowings:
a)	from banks of the KR
b)	from other FCOs of the KR
c)	from international financial organizations and donors
d)	from international FCOs
e)	from state authorities
f)	from founders (shareholders) - individuals
g)	from founders (shareholders) - legal entities
h)	from other legal entities
19	Conditional grants
20	Debt securities
21	Subordinated debt obligations, in t.ch.:
a)	Subordinated debt included in the calculation of own capital
b)	Subordinated debt included in the calculation of total capital
c)	Other subordinated debt
22	Other liabilities
a)	Accrued interest payable
b)	Taxes payable
c)	Dividends payable
d)	Other
23	TOTAL: LIABILITIES

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________";

• subsection B-2. Report on operations carried out under IIF to be presented in the following edition:

"Section 1. Regulatory report on the financial condition

B-2. Report on operations carried out under IIF

thousands of soms

	Name of Item	Total	Foreign Currency
	B. Liabilities
13	Time deposits of legal entities
	a) under a limited mudaraba agreement
	b) under an unlimited mudaraba agreement
14	Time deposits of individuals
	a) under a limited mudaraba agreement
	b) under an unlimited mudaraba agreement
15	Received financing
	a) from banks of the KR
	b) from other FCOs of the KR
	c) from international financial organizations and donors
	d) from international FCOs
	e) from state authorities
	f) funds borrowed from founders (shareholders) - individuals
	g) funds borrowed from founders (shareholders) - legal entities
	h) funds borrowed from other legal entities
16	Conditional grants
17	Subordinated debt obligations, in t.ch.:
a)	subordinated debt included in the calculation of own capital
b)	subordinated debt included in the calculation of total capital
c)	other subordinated debt
18	Other liabilities
19	TOTAL: LIABILITIES

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________";

• subsection B Capital to be presented in the following edition:

"Section 1. Regulatory report on the financial condition

thousands of soms

№	Name of Item	Total	Foreign Currency
B	CAPITAL
24	Share capital:
a)	Ordinary shares (fully paid-up share capital)
b)	Preferred shares
c)	Capital contributed above par
c-1)	Additional capital contributed by individuals and legal entities
d)	Retained earnings (losses):
d1)	profit (losses) of previous periods
d2)	profit (losses) of the current year
e)	reserves for future needs
25	General Reserves, including:
a)	reserve for revaluation of fixed assets
b)	reserve for revaluation of securities
c)	general RPPU for loans and financial leasing
d)	general RPPU for other assets
e)	other general reserves
25-1	Profit Smoothing Reserve (PSR)
25-2	Investment Risk Coverage Reserve (IRCR)
26	Capital investments of non-consolidated companies
27	TOTAL: CAPITAL
28	TOTAL: CAPITAL AND LIABILITIES
29	Own capital of MFC
30	Total capital

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________

Note: For the "Islamic window" of MFC: Borrower - a client to whom MFC has provided financing in accordance with Islamic principles of banking and financing. Credit - funds provided to clients in accordance with Islamic principles of banking and financing. Creditor - a person who provided funds to MFC on Islamic principles of banking and financing. Deposit - funds attracted by MFC from clients under a mudaraba agreement.";

• subsection G. Breakdown to be presented in the following edition:

"Section 1. Regulatory report on the financial condition

G. Breakdown of liabilities

thousands of soms

№	Name of Item	Amount of funds received	Balance of funds received	Term for which funds were provided		Creditor	Interest Rate	Currency	Condition
Minimum term	Maximum term
	1	2	3	4	5	6	7	8	9
1	Loans received
a)	from banks of the KR, of which:
b)	from other FCOs of the KR, of which:
c)	from international financial organizations and donors, of which:
d)	from international FCOs, of which:
e)	from state authorities, of which:
2	Conditional grants, of which:
3	Other liabilities
4	Funds borrowed by MFC from legal and individual founders (shareholders)
a)	Funds borrowed by MFC from founders (shareholders) - individuals of which:
b)	Funds borrowed by MFC from founders (shareholders) - legal entities, of which:
5	Funds borrowed by MFC from other legal entities, of which:
6	Subordinated debt obligations, in t.ch.:
a)	subordinated debt included in the calculation of own capital, of which:
b)	subordinated debt included in the calculation of total capital, of which:
c)	other subordinated debt, of which:
	TOTAL

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________";

• subsection G-1 Breakdown of liabilities accepted under IIF to be presented in the following edition:

"Section 1. Regulatory report on the financial condition

G-1. Breakdown of liabilities accepted under IIF

thousands of soms

Name of Item	Amount of funds received	Balance of funds received	Term for which liabilities were received		Creditor	Markup	Currency	Condition
min.	max.
1	2	3	4	5	6	7	8	9
1. Received financing
a) from banks of the KR
b) from other FCOs of the KR
c) from international financial organizations and donors
d) from international FCOs
e) from state authorities
2. Conditional grants
3. Other liabilities
4. Funds borrowed by MFC from individual and legal founders (shareholders)
a) Funds borrowed by MFC from founders (shareholders) - individuals
b) Funds borrowed by MFC from founders (shareholders) - legal entities
5. Funds borrowed by MFC from other legal entities
6. Subordinated debt obligations, in t.ch.:
a) subordinated debt included in the calculation of own capital
b) subordinated debt included in the calculation of total capital
c) other subordinated debt
TOTAL

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________";

2. in section 6:

• subsection A. Sensitivity analysis of assets and liabilities to interest rate changes (GAP_ANALYSIS) Liabilities to be presented in the following edition:

"SECTION 6.

A. Sensitivity analysis of assets and liabilities to interest rate changes (GAP_ANALYSIS)

Liabilities

thousands of soms

№	Item	Days to maturity/Repricing possibility							Total
Immediate	1-30 days	31-90 days	91-180 days	181-365 days	from 1 to 3 years	more than 3 years
	1	2	3	4	5	6	7	8	9
7	Time deposits of individuals
8	Time deposits of legal entities
9	Loans received:
	in t.ch. in foreign currency
a)	From banks of the KR
	in t.ch. in foreign currency
b)	From other FCOs of the KR
	in t.ch. in foreign currency
c)	From international financial organizations and donors
	in t.ch. in foreign currency
d)	From international FCOs
	in t.ch. in foreign currency
e)	From state authorities
	in t.ch. in foreign currency
f)	Liabilities on funds borrowed by MFC from founders (shareholders) - individuals
	in t.ch. in foreign currency
g)	Liabilities on funds borrowed by MFC from founders (shareholders) - legal entities
	in t.ch. in foreign currency
h)	Liabilities on funds borrowed by MFC from other legal entities
	in t.ch. in foreign currency
10	Other liabilities sensitive to interest rate changes
	in t.ch. in foreign currency
11	Total liabilities sensitive to interest rate changes
	in t.ch. in foreign currency
12	Gap
	in t.ch. in foreign currency
13	Cumulative gap
	in t.ch. in foreign currency

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________";

• subsection A-1. Sensitivity analysis of assets and liabilities under IIF to yield rate changes (GAP-analysis) to be presented in the following edition:

"SECTION 6.

A-1. Sensitivity analysis of assets and liabilities under IIF to yield rate changes (GAP-analysis)

thousands of soms

	Item	Days to maturity/Repricing possibility							Total
Immediate	1-30 days	31-90 days	91-180 days	181-365 days	from 1 to 3 years	more than 3 years
	1	2	3	4	5	6	7	8	9
	LIABILITIES
7	Time deposits of individuals
8	Time deposits of legal entities
9	Received financing:
	in t.ch. in foreign currency
	a) from banks of the KR;
	in t.ch. in foreign currency
	b) from other FCOs of the KR
	in t.ch. in foreign currency
	c) from international financial organizations and donors
	in t.ch. in foreign currency
	d) from international FCOs
	in t.ch. in foreign currency
	e) from state authorities
	in t.ch. in foreign currency
10	Liabilities on funds borrowed by MFC from individual and legal founders (shareholders)
	in t.ch. in foreign currency
	a) liabilities on financing provided by founders (shareholders) - individuals
	in t.ch. in foreign currency;
	b) liabilities on financing provided by founders (shareholders) - legal entities
	in t.ch. in foreign currency
11	Liabilities on funds borrowed by MFC from other legal entities
	in t.ch. in foreign currency
12	Other liabilities sensitive to yield rate changes
	in t.ch. in foreign currency
13	Total liabilities sensitive to yield rate changes
	in t.ch. in foreign currency
14	Gap
	in t.ch. in foreign currency
15	Cumulative gap
	in t.ch. in foreign currency

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________";

3. paragraph 1 of subsection B. Information on assets written off at the expense of RPPU and returned assets and off-balance sheet liabilities of Section 7. Changes in RPPU to be presented in the following edition:

"1. Active operations with other FCOs:";

4. subsection A. Information on large risks of section 8 Information on risks to be presented in the following edition:

"Section 8. Information on risks

A. Information on large risks

thousands of soms

№	Borrower Information
Borrower Surname	Group	Total: Borrower Debt
Loans/credits	Interest Rate	Other Assets	Interest Rate	Total	Overdue Assets (days)
1	2	3	4	5	6	7	8	9
11	TOTAL: LARGE ASSETS/LOANS
12	LARGEST LOANS TO ONE BORROWER
13	MAXIMUM TOTAL AMOUNT OF FINANCING TO ONE BORROWER

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________";

5. section 10 Information on compliance with economic standards to be presented in the following edition:

"Section 10. Information on compliance with economic standards

---

Name of Economic Norms and Requirements	Designation	Calculation of the Norm			Actual Value of the Norm	Established Value of the Norm	Deviation from the Established Norm
ECONOMIC NORMS FOR MFCs NOT ATTRACTING DEPOSITS
Minimum size of authorized capital		AC	*100%	0.00		not less than 100%
AC(2)*	0.00
Maximum total size of investments in microfinance organizations, leasing companies and banks		SI	*100%	0.00		not more than 30%
SC	0.00
Maximum total size of microcredit		MC	*100%	0.00		not more than 3%
AC	300000.00
Maximum total size of microcredit issued to the same person, MFCs engaged in wholesale financing		MC	*100%	0		not more than 20%
SC	0.00
Maximum total size of financing		MC	*100%			not more than 3%
AC	300000.00
Minimum own capital size norm		SC	*100%	0.00		not less than 100%
AC(2)*	0.00
Maximum size of investments in property (fixed assets)		SII/SC*100%		0.00		not more than 80%
0.00
ECONOMIC NORMS FOR MFCs ATTRACTING DEPOSITS
Minimum size of authorized capital		AC	*100%	0.00		not less than 100%
AC(2)*	0.00
Minimum own capital size norm	M1	SC	*100%	0.00		not less than 100%
AC (2)*	0.00
Adequacy (sufficiency) of own capital	M2	SC	*100%	0.00		not less than 8%
SA	0.00
Adequacy (sufficiency) of total capital	M2-1	SumK	*100%	0		not less than 9%
SA	0
Maximum risk size norm per borrower	M3	SZ/SC*100%		not more than 5%
Maximum total size of microcredit issued to the same person, MFCs engaged in wholesale financing		MC	*100%	0		not more than 20%
SC	0.00
Liquidity norm	M4	LA/OB*100%				not less than 30%
Risk restriction norm on return of attracted deposits	M5	K/V*100%				not less than 100%
Maximum risk size on transactions with affiliated and related persons of MFC		SZA/SC*100%				not more than 60%
Total debt of one MFC employee for loans provided by the company		SZS/SC*100%				not more than 5%
Maximum total size of investments in MFO(1), leasing companies and banks		SI/SC*100%				not more than 30%
Total size of investments in non-state debt securities		SICB/SC*100%				not more than 50%
Maximum size of investments in property (fixed assets)		SII/SC*100%				not more than 20%

SZS - total debt of employees to MFC;

SI - total investments in microfinance organizations, leasing companies and banks;

SICB - total investments in non-state debt securities;

SII - total investments in property (fixed assets);

SZA - total debt of affiliated persons;

SZ - total debt of borrower;

(1) MFO - microfinance organization;

(2) - minimum authorized capital established for MFC.

Average values for the reporting period	1 month	2 month	3 month	Total
LA - Liquid assets				0.00
OB - Obligations				0.00
Norm M4 = LA / OB	0.00%	0.00%	0.00%	0.00%

Position: ________________	Surname: _________________	Signature: _________________
Position: ________________	Surname: _________________	Signature: _________________".

3. Make the following changes to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Periodic Regulatory Report of a Microcredit Company/Microcredit Agency" and the Regulation "On the Periodic Regulatory Report of a Microfinance Company" dated May 27, 2009 No. 25/3:

in the Regulation "On the Periodic Regulatory Report of a Microcredit Company/Microcredit Agency", approved by the aforementioned Resolution:

in Appendix 2 to the Regulation "On the Periodic Regulatory Report of a Microcredit Company/Microcredit Agency", approved by the aforementioned Resolution:

1. in Section 1 Regulatory Report on Financial Status, reword as follows:

"Section 1. Regulatory Report on Financial Status

thousands of soms

No.	Name of Item	Total	Foreign Currency
1	Cash
2	Settlement accounts
3	Deposits in banks and MFOs, including:
3.1	Deposits placed in MFOs as collateral in the amount of attracted funds in national currency for hedging currency risks
4	Securities
5	MFO Loans
	including factoring operations
6	Loans to clients
	including factoring operations
7	Financial leasing
8	(Minus) ECL
9	Total net loans (5+6+7-8)
10	Investments
11	Fixed assets
12	Intangible assets, including:
12.1	Intangible assets related to technical and software products aimed at increasing the number of clients and service coverage
13	Other property total (a+b)
a)	Real estate of the borrower accepted in settlement of assets
b)	Other assets of the borrower accepted in settlement of assets
14	Other assets
15	Total assets

Head of Executive Body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

• in the subsection Report on Operations Conducted under IFS, reword as follows:

"Section 1. Regulatory Report on Financial Status

Report on Operations Conducted under IFS

thousands of soms

No.	Name of Item	Total	Foreign Currency
A. Assets
1	Deposits in other banks and MFOs, including:
	a) under limited mudaraba agreement
	b) under unlimited mudaraba agreement
	c) under qard agreement
1.1	Deposits placed in MFOs as collateral in the amount of attracted funds in national currency for hedging currency risks
2	Securities
3	Financing provided to MFOs
	a) under limited mudaraba agreement
	b) under unlimited mudaraba agreement
	c) under musharaka agreement
	c1) under diminishing musharaka agreement
	d) under murabaha agreement
	e) under ijara/ijara muntahia bittamlik agreement
	f) under salam agreement
	g) under qard agreement
4	Financing provided to clients
	a) under limited mudaraba agreement
	b) under unlimited mudaraba agreement
	c) under musharaka agreement
	c1) under diminishing musharaka agreement
	d) under murabaha agreement
	e) under ijara/ijara muntahia bittamlik agreement
	f) under salam agreement
	g) under qard agreement
	h) under istisnaa agreement
5	(Minus) ECL
6	Total financing (item 3 + item 4 - item 5)
7	Assets/inventory for subsequent transfer to client:
	a) real estate
	b) movable property
8	Other property, total (a+b)
	a) client's real estate accepted in settlement of received financing
	b) other client's property accepted in settlement of provided financing
9	Other assets
10	Total assets

Head of Executive Body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

• subsection Liabilities and Capital reword as follows:

"Section 1. Regulatory Report on Financial Status

Liabilities and Capital

thousands of soms

No.	Name of Item	Total	Foreign Currency
16	Loans from banks of the Kyrgyz Republic
17	Loans from other financial and credit organizations of the Kyrgyz Republic
18	Loans from international financial organizations and donors
19	Loans from international financial and credit organizations
20	Obligations to state bodies
21	Subordinated debt obligations, including:
a)	subordinated debt included in the calculation of own capital
b)	other subordinated debt
22	Funds borrowed by MFC from legal and natural person founders (shareholders)
22-1	Funds borrowed by MFC from founders (shareholders) - natural persons
22-2	Funds borrowed by MFC from founders (shareholders) - legal persons
23	Funds borrowed by MFC from other legal persons
24	Other
25	Total liabilities
26	Authorized capital (ordinary shares)
27	Preferred shares
28	Capital contributed above par
28.1	Additional capital contributed by natural and legal persons
29	Retained earnings
29.1	Profit/loss of previous years
29.2	Profit/loss of the current year
30	Reserves for future needs
31	Reserve for asset revaluation
32	Total ECL for loans and financial leasing
33	Total capital
34	Total: Liabilities and capital

Head of Executive Body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

• in the subsection Report on Operations Conducted under IFS:

"Section 1. Regulatory Report on Financial Status

Report on Operations Conducted under IFS

thousands of soms

No.	Name of Item	Total	Foreign Currency
B. Liabilities
1	Financing obtained from banks of the Kyrgyz Republic
2	Financing obtained from other FCOs of the Kyrgyz Republic
3	Financing obtained from international financial organizations and donors
4	Financing obtained from international FCOs
5	Obligations to state authorities
6	Funds borrowed by MFC from natural and legal person founders (shareholders)
	a) funds borrowed by MFC from founders (shareholders) - natural persons
	b) funds borrowed by MFC from founders (shareholders) - legal persons
7	Funds borrowed by MFC from other legal persons
8	Other
9	Total liabilities

Head of Executive Body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

2. in Section 6. Disclosures:

• subsection A. Liabilities reword as follows:

"Section 6. DISCLOSURES

A. Liabilities

thousands of soms, %

No.	Name of Organization	Amount of Funds Received	Balance of Funds Received	Term for Which Funds Are Provided		Creditor	Interest Rate	Currency	Condition
Minimum Term	Maximum Term
	1	2	3	4	5	6	7	8	9
1	Loans obtained
a)	from banks and other FCOs
b)	from international donor organizations
c)	from other financing sources
2	Subordinated debt obligations
3	Funds borrowed by MFC from natural and legal person founders (shareholders)
3-1	Funds borrowed by MFC from founders (shareholders) - natural persons
3-2	Funds borrowed by MFC from founders (shareholders) - legal persons
4	Funds borrowed by MFC from other legal persons
5	Other
TOTAL

Head of Executive Body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

• subsection A-1 Liabilities Assumed under IFS reword as follows:

"Section 6. Disclosures

A-1. Liabilities Assumed under IFS

thousands of soms, %

Name of Organization	Amount of Funds Received	Balance of Funds Received	Term for Which Liabilities Were Obtained		Creditor	Markup/Income in %	Currency	Condition
min.	max.
1	2	3	4	5	6	7	8	9
1. Financing obtained
a) from banks of KR
b) from other FCOs of KR
c) from international financial organizations and donors
d) from international FCOs
e) from state authorities
2. Conditional grants
3. Other liabilities
4. Funds borrowed by MFC from natural and legal person founders (shareholders)
a) Funds borrowed by MFC from founders (shareholders) - natural persons
b) Funds borrowed by MFC from founders (shareholders) - legal persons
5. Funds borrowed by MFC from other legal persons
TOTAL

Head of Executive Body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

• in subsection B. Information on Lending Terms, reword as follows:

"Section 6. Disclosures

B. Information on Lending Terms

thousands of soms, %

No.	Product Name	Loan Amount per Client		Terms		Interest Rate per Month		Accrual Method
min.	max.	min.	max.	min.	max.	on balance	on initial balance
	1	1	2	3	4	5	6	7	8
1	Group lending without collateral
2	Group lending with collateral
3	Individual lending without collateral
4	Individual lending with collateral
5	other
6	TOTAL
7	Largest loan to one client
8	Largest loan for financial leasing (leasing)

Head of Executive Body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

• subsection B-1. Information on Financing Terms under IFS, add a row of the following content:

"Section 6. Disclosures

B-1. Information on Financing Terms under IFS

thousands of soms, %

Product Name	Financing Amount per Client		Terms		Markup/Income, in %		Accrual Method
min.	max.	min.	max.	min.	max.	on balance	on initial balance
1	2	3	4	5	6	7	8	9
Group financing without collateral
Group financing with collateral
Individual financing without collateral
Individual financing with collateral
Other
TOTAL
Largest financing to one client

Head of Executive Body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

3. Section 7. Information on Compliance with Economic Norms, reword as follows:

"Section 7. Information on Compliance with Economic Norms

Name of Economic Norms and Requirements	Designation	Calculation of the Norm		Actual Value of the Norm	Established Value of the Norm	Deviation from the Established Norm
ECONOMIC NORMS FOR MCCs
MCC own capital adequacy norm(1)*	M2	SC*100%			not less than 8%
SA
MCC minimum own capital size norm		SC			not less than 100%
AC(2)*100%
Maximum total size of investments in microfinance organizations, leasing companies and banks		SI/SC*100%			not more than 30%
Maximum total size of microcredit issued to the same person		MC/AC*100%	0.00		not more than 10%
50000
Maximum total size of financing issued to the same person		MC/AC*100%	0.00		not more than 10%
50000
Maximum total size of microcredit for financial leasing (leasing)		MFA(ML)/SC*100%	0.00		not more than 10%
Maximum total size of microcredit issued to the same borrower(1)*		MC/SC*100%	#VALUE!		not more than 20%
#VALUE!
1 - this norm applies to MCCs engaged in wholesale lending (apex institutions); 2 - minimum authorized capital established for MCCs

Head of Executive Body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.".

4. Make the following changes to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the "Rules for Regulating the Activities of Microfinance Organizations Carrying Out Operations Based on Islamic Principles of Banking and Financing" dated May 30, 2014 No. 24/11:

in the Rules for Regulating the Activities of Microfinance Organizations Carrying Out Operations Based on Islamic Principles of Banking and Financing, approved by the aforementioned Resolution:

1. add the following sentence to the fifth paragraph of paragraph 9:

"This restriction does not apply to financing issued within the framework of implementing other property of the MFC, converted from a commercial bank.";

2. reword paragraph 12 as follows:

"12. Calculation of the own capital of the MFC (as of the assessment date) is carried out based on the following indicators:

• ordinary shares;

• preferred shares;

• capital contributed above par;

• additional capital contributed by natural and legal persons;

• reserves for future needs;

• perpetual subordinated debt.

Perpetual subordinated debt is understood as an unsecured obligation that has no maturity dates, should not be repaid early at the request of creditors, and claims for which, in the event of liquidation of the MFC, are satisfied last after satisfying all claims of creditors, but before settlements with shareholders of the MFC. The MFC must at all times have the full right to cancel the payment of yield on subordinated debt. Perpetual subordinated debt may be repaid at the initiative of the MFC only after a minimum period of not less than five years, after obtaining prior permission from the National Bank, as well as if repayment does not lead to a violation of norms;

• retained earnings/losses of previous years;

• losses of the current year;

• minus investments in the capital (shares, equity participation) of other MFOs, leasing companies and banks.

In this case, investments in capital (shares, equity participation) are understood as the balance of actually invested funds in the capital of MFOs, leasing companies and banks.";

3. in the fifth paragraph of paragraph 12-1, replace the word "created" with "created and operating";

4. reword the first paragraph of paragraph 13 as follows:

"13. The MFC has the right to make investments in the capital of MFOs, leasing companies and banks whose activities do not contradict Sharia standards.";

5. add the second paragraph to paragraph 14-1 as follows:

"This restriction, as well as its value, may be set individually for a specific MFC by decision of the Supervisory Committee of the National Bank.";

6. add paragraph 14-2 as follows:

"14-2. Microfinance companies not accepting deposits are obliged to comply with economic norms and restrictions established by the National Bank, including:

• minimum size of paid-up authorized capital;

• minimum own capital norm;

• maximum total size of financing;"

---

• maximum total size of investments in microfinance organizations, leasing companies, and banks;

• maximum total size of funds borrowed from founders (shareholders) - natural persons;

• maximum total size of funds borrowed from founders (shareholders) - legal entities;

• maximum size of investments in property (fixed assets);

• maximum size of the issuance of debt securities."

7. paragraph 22 is amended as follows:

"22. MFCs conducting deposit-taking operations must comply with the economic norms and limits established by the National Bank, including:

• minimum size of paid-up charter capital;

• minimum size of own capital (M1);

• adequacy (sufficiency) ratio of own capital (M2);

• maximum size of risk per one client (M3);

• adequacy (sufficiency) of total capital;

• liquidity ratio (M4);

• risk limitation ratio for the return of deposits (M5);

• maximum size of risk for operations with affiliated and related persons of the MFC;

• maximum total debt of one MFC employee for financing provided by the company;

• maximum total size of investments in MFCs, leasing companies, and banks;

• size of investments in non-state debt securities;

• maximum total size of funds borrowed from founders (shareholders) - natural persons;

• maximum total size of funds borrowed from founders (shareholders) - legal entities;

• maximum size of investments in property (fixed assets);

• maximum size of the issuance of debt securities."

8. paragraph 23-1 is supplemented with a second paragraph as follows:

"This limitation, as well as its value, may be established individually for a specific MFC by decision of the Supervision Committee of the National Bank."

9. in the fifth paragraph of paragraph 25, after the word "created", add the words "and operating";

10. paragraph 26 is amended as follows:

"26. The value of the adequacy (sufficiency) ratio of own capital (M2) must be maintained at a level of not less than 8 percent.

The adequacy (sufficiency) ratio of own capital of an MFC is determined by the formula:

M2 = OC / TA * 100%,

where:

OC - own capital of the MFC as of the assessment date (in accordance with paragraph 12 of these Rules);

TA - sum of balance sheet assets as of the assessment date minus the sum of deposits placed in commercial banks as collateral in the amount of attracted funds in national currency for the purpose of hedging currency risks, as well as intangible assets related to technical and software products aimed at increasing the number of clients and coverage of services."

11. paragraphs 26-1 and 26-2 are added as follows:

"26-1. The total capital of an MFC (as of the assessment date) is determined as the sum of the following indicators:

• own capital;
• current year profit (profit after taxation received in the current year);
• general reserves to cover potential losses and losses on financing;
• general reserves to cover potential losses and losses on other assets;
• revaluation reserve for fixed assets;
• revaluation reserve for securities;
• subordinated debt.

Subordinated debt is understood as an unsecured obligation that must not be repaid early at the request of creditors, and claims for which in the event of liquidation of an MFC are repaid last after satisfying all claims from creditors, but before settlements with shareholders of the MFC. The creditor does not have any rights to early repayment of future scheduled payments (interest income/income or principal amount of subordinated debt/loan), except in cases of bankruptcy and liquidation. The minimum repayment period must be not less than 5 (five) years. Amortization of subordinated debt is carried out based on the method of equal installments over the remaining five years before the maturity date. Subordinated debt may be repaid only after the minimum period of not less than 5 (five) years, after obtaining prior permission from the National Bank, as well as if repayment does not lead to a violation of norms.

26-2. The value of the adequacy (sufficiency) ratio of total capital M2 must be maintained at a level of not less than 9%.

The adequacy ratio of total capital of an MFC is determined by the formula:

M2 = TC / TA * 100%,

where:

TC - total capital of the MFC as of the assessment date, calculated in accordance with paragraph 26-1;

TA - sum of balance sheet assets as of the assessment date minus the sum of deposits placed in commercial banks as collateral in the amount of attracted funds in national currency for the purpose of hedging currency risks, as well as intangible assets related to technical and software products aimed at increasing the number of clients and coverage of services."

12. in paragraph 27:

• the sixth paragraph is amended as follows:

"For MFCs engaged in wholesale financing, the maximum total size of financing issued to the same person must not exceed 20 percent of the size of own capital."

• in the eleventh paragraph, the word "collateral" is excluded;

13. in the seventh paragraph of paragraph 28, the word "occurred" is excluded;

14. paragraph 29-1 is added as follows:

"29-1. The norm of the maximum size of risk for time deposits from individuals and other obligations to individuals (M5.1) is calculated by the formula:

M5.1 = TC / TDNL * 100%,

where:

TC - total capital of the MFC;

TDNL - sum of time deposits and other obligations to individuals, including savings (deposit) certificates, bonds, etc.

This norm, as well as its value, may be established individually for a specific MFC by decision of the Supervision Committee of the National Bank."

15. paragraph 35 is amended as follows:

"35. MFCs must submit information to the National Bank on the execution of economic norms in accordance with the requirements and deadlines established within the framework of periodic regulatory reporting:

• about investments in capital (shares, equity participation) of other microfinance organizations, leasing companies, and banks, indicating the list and size of investments in each of them;

• about the size of investments of MFCs (investments in capital (shares, equity participation), debt obligations, financial investments in leasing and factoring, loans, and any other similar financial investments) in other microfinance organizations, leasing companies, and banks, indicating the list, size of investments in each of them, and the calculation of the indicator specified in paragraph 13;

• about the size of funds borrowed from founders (shareholders) - natural persons, indicating the list of founders (shareholders) - natural persons, borrowing conditions by founders (size, term, rate, currency of the loan, etc.);

• about the size of funds borrowed from founders (shareholders) - legal entities, indicating the list of founders (shareholders) - legal entities, borrowing conditions by founders (shareholders) - legal entities (size, term, rate, currency of the loan, etc.)."

16. paragraph 38-2 is amended as follows:

"38-2. For the calculation of the dividend amount, an MFC must use the smallest of the net profit values calculated in accordance with International Financial Reporting Standards (hereinafter - IFRS) and the requirements of the National Bank.

In the event of the existence of one of the following threats to the stability of MFC activities, the National Bank may restrict the payment of dividends by an MFC if:

1. this will lead to a violation of economic norms and limits established by the National Bank;

2. the MFC does not comply with economic norms and limits established by the National Bank;

3. in the presence of losses of previous years or for the reporting year;

4. the prescription/requirement of the National Bank on additional accrual of reserves to cover potential losses and losses, in accordance with the requirements of the National Bank, is not fulfilled;

5. there is an unfulfilled requirement of the National Bank, directed as a measure of impact."

6. paragraph 44 is amended as follows:

"44. MCCs engaged in wholesale financing and having obligations to creditors (including FCOs) must comply with the adequacy (sufficiency) ratio of own capital.

The value of the adequacy (sufficiency) ratio of own capital M2 must be maintained at a level of not less than 8 (eight) percent.

The adequacy (sufficiency) ratio of own capital is determined by the formula:

M2 = OC / TA * 100%,

where:

OC - own capital of the MCC as of the assessment date (in accordance with paragraph 45 of these Rules);

TA - sum of balance sheet assets as of the assessment date minus the sum of deposits from clients placed in FCOs as collateral in the amount of attracted cash funds in deposits in national currency for the purpose of hedging currency risks, as well as intangible assets related to technical and software products aimed at increasing the number of clients and coverage of services."

18. paragraph 45 is supplemented with paragraphs sixth and seventh as follows:

• perpetual subordinated debt.

Perpetual subordinated debt is understood as an unsecured obligation that has no maturity dates, must not be repaid early at the request of creditors, and claims for which in the event of liquidation of an MCC are repaid last after satisfying all claims from creditors, but before settlements with shareholders/participants of the MCC. The MCC must at all times have the full right to cancel the payment of income on subordinated debt. Perpetual subordinated debt may be repaid at the initiative of the MCC only after the minimum period of not less than five years, after obtaining prior permission from the National Bank, as well as if repayment does not lead to a violation of norms."

19. in the fifth paragraph of paragraph 45-1, the word "created" is replaced with the words "created and operating";

20. paragraph 45-2 is amended as follows:

"45-2. In the event that an MCC has obligations to third parties, as well as in the event of the existence of one of the following threats to the stability of MCC activities, the National Bank may prohibit or restrict the payment of dividends/distribution of profit by an MCC if:

1. this will lead to a violation of economic norms and limits established by the National Bank;

2. the MCC does not comply with economic norms and limits established by the National Bank;

3. in the presence of losses of previous years or for the reporting year;

4. the prescription/requirement of the National Bank on additional accrual of reserves to cover potential losses and losses, in accordance with the requirements of the National Bank, is not fulfilled;

5. there is an unfulfilled requirement of the National Bank, directed as a measure of impact.

Note: Obligations to third parties are understood as funds attracted by the MCC from legal and natural persons not affiliated with the MCC, and directed to the main activity."

21. in paragraph 47:

• the words "500 thousand som" are replaced with "1 million som", the words "100 thousand som" are replaced with "200 thousand som", the words "20 and" are replaced with "10 and";

22. paragraphs 47-2, 47-3, and 47-4 are added as follows:

"47-2. MCCs and MFCs are entitled to make investments only in microfinance organizations, leasing companies, and banks.

The maximum total size of investments of an MCC (investments in capital (shares, equity participation), debt obligations, financial investments under an ijarah muntahia bittamlik contract and financing, and any other similar financial investments) in microfinance organizations, leasing companies, and banks must not exceed 30% of the size of own capital of the MCC and is determined by the formula:

SI / OC * 100% ≤ 30%,

where:

SI - total size of investments of the MCC as of the assessment date;

OC - own capital of the MCC as of the assessment date in accordance with paragraph 45 of these Rules.

When calculating this norm, loans/financing provided to microfinance organizations, leasing companies, and banks, in the capital (shares, equity participation) of which investments of the MCC are placed, are taken into account.

When calculating this norm, investments in the capital of a bank made by:

• MFCs before April 1, 2026;

• MFCs that have received permission from the National Bank to establish a bank before April 1, 2026, are not included in the total size of investments.

This norm does not apply to MCCs engaged in wholesale lending/financing.

47-3. MCCs and MFCs must monitor compliance with economic norms and requirements of the National Bank on a periodic basis in accordance with the requirements of internal regulatory documents.

MCCs and MFCs must submit information to the National Bank on the execution of economic norms and limits within the framework of periodic regulatory reporting.

Compliance with economic norms and limits established for MCCs and MFCs may be checked by the National Bank as of any date.

47-4. For the calculation of the dividend amount, an MCC must use the smallest of the net profit values calculated in accordance with IFRS and the requirements of the National Bank."

5. Make the following changes to Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulations of the National Bank of the Kyrgyz Republic" dated October 17, 2014 No. 45/1:

in the Regulation "On Periodic Regulatory Reporting of Microfinance Companies Conducting Operations in Accordance with Islamic Principles of Banking and Financing", approved by the above-mentioned Resolution:

in Appendix 2 to the Regulation "On Periodic Regulatory Reporting of Microfinance Companies Conducting Operations in Accordance with Islamic Principles of Banking and Financing", approved by the above-mentioned resolution:

1. in Section 1. Regulatory Report on Financial Status:

• subsection A Assets is amended as follows:

"Section 1. Regulatory Report on Financial Status

Thousand som

	Name of Item	Total	In Foreign Currency
A. ASSETS
1	Cash
	including in foreign currency
2	Account at NBKR
3	Settlement accounts in other banks and FCOs
4	Deposits in other banks and FCOs:
	a) under limited mudaraba contract
	b) under unlimited mudaraba contract
	c) under qard contract
4.1	including deposits placed in FCOs as collateral in the amount of attracted funds in national currency for the purpose of hedging currency risks
5	Securities
5.1	including non-state debt securities
6	Financing provided to banks and FCOs:
	a) under limited mudaraba contract
	b) under unlimited mudaraba contract
	c) under sharika/musharaka contract
	c1) under declining musharaka contract
	d) under murabaha contract
	e) under ijarah/ijarah muntahia bittamlik contract
	f) under salam contract
	g) under qard contract
	h) financing of MFCs/leasing companies/banks, in the capital (shares, equity participation) of which investments of MFCs are placed
7	Financing provided to other clients
	a) under limited mudaraba contract
	b) under unlimited mudaraba contract
	c) under sharika/musharaka contract
	c1) under declining musharaka contract
	d) under murabaha contract
	e) under ijarah/ijarah muntahia bittamlik contract
	f) under salam contract
	g) under qard contract
	h) under istisna contract
8	MINUS: Special RPPU
9	Net Financing (item 6 + item 7 - 8)
10	Assets/inventory for subsequent transfer to clients:
	a) real estate
	b) movable property
11	Fixed assets, including:
	a) land and buildings
	b) other fixed assets
12	Intangible assets, including:
12.1	Intangible assets related to technical and software products aimed at increasing the number of clients and coverage of services
13	Other property
	a) client's real estate accepted in repayment of received financing
	b) other client's property accepted in repayment of provided financing
14	Capital investments in unconsolidated companies
	a) banks and FCOs
	b) other financial institutions
	c) non-financial institutions
15	Other assets
16	TOTAL: ASSETS

Position: ______________	Surname: _________________	Signature: ______________";

• subsections B. Liabilities and C. Capital are amended as follows:

"Section 1. Regulatory Report on Financial Status

Thousand som

	Name of Item	Total	In Foreign Currency
B. LIABILITIES
17	Time deposits of legal entities
	a) under limited mudaraba contract
	b) under unlimited mudaraba contract
18	Time deposits of individuals
	a) under limited mudaraba contract
	b) under unlimited mudaraba contract
19	Received financing:
	a) from banks of KR
	b) from other FCOs of KR
	c) from international financial organizations and donors
	d) from international FCOs
	e) from government bodies
	f) financing provided to MFCs by founders (shareholders) - natural persons
	g) financing provided to MFCs by founders (shareholders) - legal entities
	h) from other legal entities
20	Conditional grants
21	Debt securities
22	Subordinated debt obligations, including:
a)	Subordinated debt included in the calculation of own capital
b)	Subordinated debt included in the calculation of total capital
c)	other subordinated debt
23	Other liabilities
24	TOTAL: LIABILITIES
C. CAPITAL
25	Share capital:
	a) ordinary shares (fully paid-up charter capital)
	b) preferred shares
	c) capital invested above nominal value
	d) additional capital contributed by natural and legal persons
	e) undistributed profit (losses):
	e1) profit (losses) of previous periods
	e2) profit (losses) of the current year
	f) reserves for future needs
26	General reserves, including:
	a) revaluation reserve for fixed assets
	b) revaluation reserve for securities
	c) general RPPU for financing
	d) general RPPU for other assets
	e) other general reserves
26-1	Profit smoothing reserve (PSR)
26-2	Reserve for coverage of risks on investments
27	Capital investments of unconsolidated companies
28	TOTAL: CAPITAL
29	TOTAL CAPITAL and LIABILITIES
30	Own capital of MFC
31	Total capital

Position: ______________	Surname: _________________	Signature: ______________";

• subsection E. Breakdown of Liabilities is amended as follows:

"Section 1. Regulatory Report on Financial Status

E. Breakdown of Liabilities

No.	Name of Operation	Amount of Funds Received	Balance of Funds Received	For What Term Were Liabilities Received		Creditor	Markup/Income, in %	Currency	Condition	Yield Coefficient, in %
minimum term	maximum term
1	1	2	3	4	5	6	7	8	9	10
1	Financing received
a)	from banks of KR
b)	from other FCOs of KR
c)	from international financial organizations and donors
d)	from international FCOs
e)	from government bodies
2	Conditional grants
3	Other liabilities
4	Funds borrowed by MFC from legal and natural persons founders (shareholders)
a)	Funds borrowed by MFC from founders (shareholders) - natural persons
b)	Funds borrowed by MFC from founders (shareholders) - legal entities
5	Funds borrowed by MFC from other legal entities
6	Subordinated debt obligations, including:
a)	subordinated debt included in the calculation of own capital
b)	subordinated debt included in the calculation of total capital
c)	other subordinated debt
	TOTAL

Position: ______________	Surname: _________________	Signature: ______________";

2. the fifth column of subsection 5B. Movement of Deposits for the Reporting Period of Section 5 Deposits is amended as follows:

"Average weighted yield rate at the end of the reporting period, in %";

3. subsection 6A. Sensitivity Analysis of Assets and Liabilities to Changes in Yield Rates (GAP_analysis) of Section 6 is amended as follows:

"Section 6.

Subsection 6.A. Sensitivity Analysis of Assets and Liabilities to Changes in Yield Rates (GAP_analysis)

thousand som

---"

№	Article	Days to Maturity/Revaluation Opportunity							Total
Immediate	1-30 days	31-90 days	91-180 days	181-365 days	1 to 3 years	more than 3 years
	1	2	3	4	5	6	7	8	9
LIABILITIES
7	Time deposits of individuals
8	Time deposits of legal entities
9	Financing received:
	in particular in foreign currency
a)	from banks of the Kyrgyz Republic;
	in particular in foreign currency
b)	from other FCOs of the Kyrgyz Republic
	in particular in foreign currency
c)	from international financial organizations and donors
	in particular in foreign currency
d)	from international FCOs
	in particular in foreign currency
e)	from state authorities
	in particular in foreign currency
f)	Liabilities for funds borrowed by MFCs from founders (shareholders) - individuals
	in particular in foreign currency
g)	Liabilities for funds borrowed by MFCs from founders (shareholders) - legal entities
	in particular in foreign currency
h)	Liabilities for funds borrowed by MFCs from other legal entities
	in particular in foreign currency
10	Other liabilities sensitive to changes in yield rates
	in particular in foreign currency
11	Total liabilities sensitive to changes in yield rates
	in particular in foreign currency
12	Gap
	in particular in foreign currency
13	Cumulative Gap
	in particular in foreign currency

Position: ______________	Surname: _________________	Signature: ______________";

4. paragraph 1 of subsection B. Information on assets written off at the expense of the Provision for Possible Losses (PPL) and returned (previously written off) and off-balance sheet liabilities of section 7. The changes to the PPL should be presented in the following edition:

"1. Active operations with other FCOs";

5. section 10. Information on compliance with economic standards should be presented in the following edition:

"Section 10. Information on compliance with economic standards

Name of economic standards and requirements	Designation	Calculation of the standard			Actual value of the standard	Established value of the standard	Deviation from the established standard
Economic standards for MFCs not attracting deposits
Minimum size of authorized capital		AC	*100%	0.00		not less than 100%
AC(2)*	0.00
Maximum total size of investments in microfinance organizations, leasing companies and banks		SI	*100%	0.00		not more than 30%
SC	0.00
Maximum total size of financing		MF	*100%	0.00		not more than 3%
AC	300 000
Maximum size of financing issued to the same person, MFCs engaged in wholesale financing		MF	*100%	0.00		not more than 20%
SC	0.00
Minimum own capital standard		SC	*100%	0.00		not less than 100%
AC(2)*	0.00
Maximum size of investments in property (fixed assets)		SIP	*100%	0.00		not more than 80%
SC	0.00
Economic standards for MFCs attracting deposits
Minimum size of authorized capital		AC	*100%	0.00		not less than 100%
AC(2)*	0.00
Minimum own capital standard	M1	SC	*100%			not less than 100%
AC	0.00
Adequacy (sufficiency) of own capital	M2	SC	*100%			not less than 8%
TA	0.00
Adequacy (sufficiency) of total capital	M2-1	SumC	*100%	0.00		not less than 9%
TA	0.00
Maximum risk standard for one client	M3	SD	*100%	0.00		not more than 5%
SC
Maximum total size of financing issued to the same person, MFCs engaged in wholesale financing		MF	*100%	0.00		not more than 20%
SC
Liquidity standard	M4	LA	*100%	0.0%		not less than 30%
LIAB
Standard for limiting risk on return of attracted deposits	M5	K	*100%	0.00		not less than 100%
D	0.00
Maximum size of risk on operations with affiliated and related persons of the MFC		SD A	*100%	0.00		not more than 60%
SC
Total debt of one MFC employee for financing provided by the company		SD S	*100%	0.00		not more than 5%
SC
Maximum total size of investments in MFO(1), leasing companies and banks		SI	*100%	0.00		not more than 30%
SC
Total size of investments in non-state debt securities		SI	*100%	0.00		not more than 50%
SC
Maximum size of investments in property (fixed assets)		SIP	*100%	0.00		not more than 20%
SC

SD S - total debt of employees to MFCs;

SI - total investments in microfinance organizations, leasing companies and banks;

SISB - total investments in non-state debt securities;

SIP - total investments in property (fixed assets);

SDA - total debt of affiliated persons;

SD - total client debt;

(1) MFO - microfinance organization;

(2) - minimum authorized capital established for MFCs.

Average values for the reporting period	1 month	2 month	3 month	Total
LA - Liquid Assets
LIAB - Liabilities
Standard M4 = LA / LIAB

Head of the executive body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

6. Make the following changes to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulations of the National Bank of the Kyrgyz Republic" dated October 17, 2014 No. 45/1:

in the Regulation "On Periodic Regulatory Reporting of Microcredit Companies and Microcredit Agencies Carrying Out Operations in Accordance with Islamic Principles of Banking and Financing", approved by the aforementioned Resolution:

in Appendix 2 to the Regulation "On Periodic Regulatory Reporting of Microcredit Companies and Microcredit Agencies Carrying Out Operations in Accordance with Islamic Principles of Banking and Financing", approved by the aforementioned Resolution:

1. in section 1. Regulatory Report on Financial Status:

• subsection A. Assets should be presented in the following edition:

"Section 1. Regulatory Report on Financial Status

A. Assets

thousand som

No.	Name of Item	Total	Foreign Currency
1	Cash
2	Settlement accounts
3	Deposits in other banks and financial-credit organizations, including:
	a) under a limited mudaraba agreement
	b) under an unlimited mudaraba agreement
	c) under a qard agreement
3.1	Deposits placed in FCOs as collateral in the amount of attracted funds in national currency for hedging currency risks
4	Securities
5	Financing provided to FCOs
	a) under a limited mudaraba agreement
	b) under an unlimited mudaraba agreement
	c) under a musharaka/sharika agreement
	c1) under a diminishing musharaka agreement
	d) under a murabaha agreement
	e) under an ijara/ijara muntahiya bit tamlik agreement
	f) under a salam agreement
	g) under a qard agreement
6	Financing provided to clients
	a) under a limited mudaraba agreement
	b) under an unlimited mudaraba agreement
	c) under a musharaka/sharika agreement
	c1) under a diminishing musharaka agreement
	d) under a murabaha agreement
	e) under an ijara/ijara muntahiya bit tamlik agreement
	f) under a salam agreement
	g) under a qard agreement
	h) under an istisna'a agreement
7	(Minus) PPL
8	Total financing (5+6-7)
9	Investments
10	Assets/inventory for subsequent transfer to clients:
	a) real estate
	b) movable property
11	Fixed assets
12	Intangible assets, including:
12.1	Intangible assets related to technical and software products aimed at increasing the number of clients and service coverage
13	Other property, total (a+b)
	a) client's real estate accepted in repayment of received financing
	b) other client property accepted in repayment of provided financing
14	Other assets
15	Total assets

Head of the executive body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

• subsection B. Liabilities and capital should be presented in the following edition:

"Section 1. Regulatory Report on Financial Status

B. Liabilities and capital

thousand som

No.	Name of Item	Total	Foreign Currency
16	Financing received from banks of the Kyrgyz Republic
17	Financing received from other FCOs of the Kyrgyz Republic
18	Financing received from international financial organizations and donors
19	Financing received from international FCOs
20	Liabilities to state authorities
21	Subordinated debt obligations, including:
a)	subordinated debt included in the calculation of own capital
b)	other subordinated debt
22	Funds borrowed by MCCs from legal entities and individual founders (shareholders)
22-1	a) funds borrowed by MCCs from founders (shareholders) - individuals
22-2	b) funds borrowed by MCCs from founders (shareholders) - legal entities
23	Funds borrowed by MCCs from other legal entities
24	Other
25	Total liabilities
26	Authorized capital (ordinary shares)
27	Preferred shares
28	Capital invested above par
29	Additional capital contributed by individuals and legal entities
30	Retained earnings
	a) profit/loss of previous years
	b) profit/loss of the current year
31	Reserves for future needs
32	Reserve for asset revaluation
33	Total PPL for financing
34	Total capital
35	Total: Liabilities and capital

Head of the executive body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

2. subsection A. Asset classification by risk degree of section 3. Information on assets should be presented in the following edition:

"Section 3. Information on Assets A. Asset Classification by Risk Degree

Weighted average markup/yield, as of the end of the reporting period, in % thousand som

Item	Total	Current (non-overdue) assets	Restructured assets	Total overdue assets	Normal	Assets under supervision			Substandard			Doubtful	Loss	Total assets in non-accrual status	"General" reserves	"Special" reserves
total	5%	10%	total	15%	25%
1	2	3	4	5	6	7	7.1	7.2	8	8.1	8.2	9	10	11	12	13
1. Financing and other operations with banks and FCOs
a) settlement and other accounts in banks and FCOs
b) financing provided to FCOs
2. Investments
3. Financing provided to clients:
a) industry
b) agriculture
c) harvesting and processing
d) trade and commercial operations
e) services
f) transport
g) communications
h) construction and purchase of real estate (housing)
i) individuals
k) others
4. Other assets subject to classification
5. TOTAL:
For reference: restructured assets, total (quantity)

Head of the executive body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

3. in subsection 6A. Liabilities of section 6. Disclosures should be presented in the following edition:

"Section 6. Disclosures

Subsection 6 A. Liabilities

thousand som, %

No.	Name of Operation	Amount of Funds Received	Balance of Funds Received	Term for Which Funds Were Provided		Creditor	Markup/Expenses on Attracted Financing, in %	Currency	Conditions	Yield Coefficient at the End of the Reporting Period, in %
minimum	maximum
	1	2	3	4	5	6	7	8	9	10
1	Financing received
a)	from banks and other FCOs of the KR
b)	from other donor organizations
c)	from other financing sources
2	Subordinated debt obligations
3	Funds borrowed by MCCs from individual and legal entity founders (shareholders)
3-1	Funds borrowed by MCCs from founders (shareholders)- individuals
3-2	Funds borrowed by MCCs from founders (shareholders)- legal entities
4	Funds borrowed by MCCs from other legal entities
	TOTAL

Head of the executive body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.";

4. section 7. Information on compliance with economic standards of MCCs should be presented in the following edition:

"Section 7. Information on compliance with economic standards of MCCs

Name of economic standards and requirements	Designation	Calculation of the standard	Actual value of the standard	Established value of the standard	Deviation from the established standard
ECONOMIC STANDARDS FOR MCCs
MCC capital adequacy standard(1)*	M2	SC/TA*100%		not less than 8%
MCC minimum own capital standard		SC/AC(2)*100%		not less than 100%
Maximum total size of investments in microfinance organizations, leasing companies and banks		SI/SC*100%		not more than 30%
Maximum total size of financing issued to the same person		MF/AC*100%	0.00%	not more than 10%
Maximum total size of financing under ijara muntahiya bit tamlik agreement		MFIMB/SC*100%		not more than 10%
Maximum total size of financing issued to the same client or group of related persons(1)*		MF/SC		not more than 20%
1 - this standard applies to MCCs engaged in wholesale financing (apex institutions); 2 - minimum authorized capital established for MCCs

Head of the executive body	_____________________	_________________
	Full Name	signature
Chief Accountant	_____________________	_________________
	Full Name	signature

M.P.".

7. Make the following change to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Rules for Regulating the Activities of Guarantee Funds" dated February 28, 2024 No. 2024-P-12/8-3-(NPA):

in the Rules for Regulating the Activities of Guarantee Funds, approved by the aforementioned Resolution:

• in the section "Management/Жетекчилик" of appendix 3, replace the words "Байкоо органы жөнүндө маалымат (директорлор кеңеши)/сведения о наблюдательном органе (совет директоров)" with the words "Директорлор кеңеши жөнүндө маалымат/сведения о совете директоров".