Resolution of the Board of the National Bank of the Kyrgyz Republic No. 14/4 of May 17, 2006 on Amendments and Additions to the Procedure for Granting Non-accrual Status

Registered in the Ministry of Justice of the Kyrgyz Republic

May 31, 2006. Registration number 61-06

Bishkek

of May 17, 2006 No. 14/4

RESOLUTION OF THE BOARD OF THE NATIONAL BANK

OF THE KYRGYZ REPUBLIC

On Amendments and Additions to the "Procedure

for Granting Non-accrual Status"

Having considered the draft amendments and additions to the "Procedure for Granting Non-accrual Status", guided by Articles 30, 43

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 the following changes and additions to the "Procedure for Granting Non-accrual Status", approved by resolution
   of the Board of the National Bank of the Kyrgyz Republic No. 11/2 of April 28, 2004, registered in the Ministry of Justice of the Kyrgyz Republic on June 10, 2004 No. 70-04:

• Redraft paragraph 3.2 as follows:

"3.2. All incoming payments on loans in non-accrual status must be accepted as repayment of overdue payments on the principal amount of the loan until they are fully repaid.

Only after the full repayment of the overdue part of the principal amount of the loan in non-accrual status, the inflow of funds may be directed by the credit institution to the repayment of the remaining debt in accordance with the credit agreement."

• Exclude sub-paragraph b) of paragraph 3.3, accordingly sub-paragraph c)
  becomes sub-paragraph b).

• Exclude paragraph 3.4.

• Exclude the Appendix to the "Procedure for Granting Non-accrual Status".

2. The Management of Supervision and Licensing Methodology together with
   the Legal Department shall, in the established manner, carry out state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic.

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

4. After the publication of the registered normative legal
   act, the Legal Department shall inform the Ministry of Justice of the Kyrgyz Republic about the source of publication (name of the edition, its number and date).

5. Control over the implementation of this resolution shall be entrusted to
   the Deputy Chairman of the National Bank of the Kyrgyz Republic, Janybekova S.E.

Acting Chairman of the Board of the National
Bank of the Kyrgyz Republic M. Alapaev