Resolution of the Board of the National Bank of the Kyrgyz Republic No. 12/6 on the New Edition of the Interim Rules Regulating the Activities of OsOO "Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic"

Registered in the Ministry of Justice of the Kyrgyz Republic

June 9, 2005. Registration number 71-05

Bishkek

dated April 27, 2005 No. 12/6

RESOLUTION OF THE BOARD OF THE NATIONAL BANK

OF THE KYRGYZ REPUBLIC

ON THE NEW EDITION OF THE INTERIM RULES REGULATING

THE ACTIVITIES OF OsOO "FINANCIAL COMPANY FOR SUPPORT

AND DEVELOPMENT OF CREDIT UNIONS IN THE KYRGYZ REPUBLIC"

In order to regulate the activities and reduce risks of OsOO "Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic", preserve a stable system of credit unions and protect the interests of creditors, as well as to ensure compliance with banking legislation, the Board of the National Bank of the Kyrgyz Republic resolves:

1. Approve the new edition of the Interim Rules regulating the activities of OsOO "Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic" (attached).

2. The Management Department of Supervision Methodology and Licensing, jointly with the Legal Department, shall carry out state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic in the established manner and inform the Ministry of Justice of the Kyrgyz Republic about the source of publication (name of the edition, its number and date).

3. This resolution enters into force from the moment of publication in the official editions of the National Bank of the Kyrgyz Republic after state registration in the Ministry of Justice of the Kyrgyz Republic.

4. From the moment of entry into force of this resolution, recognize as having lost force the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 46/8 dated 05.12.2001 "On the Interim Rules Regulating the Credit Activities of the Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic".

5. The Non-Banking Institutions Supervision Department shall bring this resolution to the attention of OsOO "Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic", regional departments, and the Representative Office of the National Bank of the Kyrgyz Republic in the Batken Region.

6. OsOO "Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic" shall bring its activities into compliance with the Interim Rules Regulating the Activities of the Financial Company for Support and Development of Credit Unions in the Kyrgyz Republic, approved by this resolution, by August 1, 2005.

7. Control over the implementation of this resolution is entrusted to Omurzakova G.M., Deputy Chairman of the National Bank of the Kyrgyz Republic.

Chairman of the Board of the National
Bank of the Kyrgyz Republic U. Sarbanov