Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2018-P-33/33-8-(NF KU) of August 15, 2018 on Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

August 15, 2018 No. 2018-P-33/33-8-(NF KU)

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

(In the edition of the resolutions of the Board of the National Bank of the Kyrgyz Republic of December 23, 2020 No. 2020-P-33/73-12, December 29, 2021 No. 2021-P-12/75-1, August 17, 2022 No. 2022-P-33/52-2)

In accordance with Articles 20 and 68 of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activity," 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):

• "On Approval of the Rules for Regulating the Activities of JSC "Financial Company of Credit Unions" from September 12, 2012 No. 37/3;

• "On the Rules for Regulating the Activities of Credit Unions in the Kyrgyz Republic" from May 4, 2005 No. 14/2;

• (paragraph lost force in accordance with the resolution of the Board of the National Bank of the Kyrgyz Republic of December 23, 2020 No. 2020-P-33/73-12)

• "On the Regulation "On the Periodic Regulatory Report of a Credit Union" from January 16, 2008 No. 3/3;

• "On Approval of the Regulation "On Minimum Requirements for Credit Risk Management in Credit Unions" from December 23, 2009 No. 50/7;

• (paragraph lost force in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic of August 17, 2022 No. 2022-P-33/52-2)

• "On Approval of the Regulation "On Licensing the Activities of Microfinance Companies" from December 23, 2015 No. 78/26;

• "On the Rules for Regulating the Activities of Microfinance Companies in the Territory of the Kyrgyz Republic" from February 19, 2003 No. 4/2;

• "On Certain Regulatory Acts of the National Bank of the Kyrgyz Republic" from June 28, 2006 No. 19/4;

• "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" from May 27, 2009 No. 25/3;

• "On Approval of the Regulation "On Minimum Requirements for Credit Risk Management in Microfinance Organizations Not Attracting Deposits (Deposits)" from September 25, 2013 No. 35/14;

• (paragraph lost force in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic of August 17, 2022 No. 2022-P-33/52-2)

• "On Approval of the Regulation "On the Procedure for Issuing a License for the Right to Conduct Exchange Operations with Cash Foreign Currency" from July 27, 2011 No. 40/4;

• "On Approval of the "Rules for Regulating the Activities of Credit Unions Carrying Out Operations in Accordance with Islamic Principles of Banking and Financing" from July 16, 2014 No. 32/5;

• "On Approval of the Regulations of the National Bank of the Kyrgyz Republic" from October 17, 2014 No. 45/1;

• "On Approval of the "Order for Applying Special Classification of Loans Meeting Certain Criteria" from March 2, 2006 No. 5/6;

• "On Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic" from September 14, 2011 No. 52/4;

• "On Approval of the Regulation "On Direct Banking Supervision" from May 28, 2008 No. 22/4;

- (paragraph lost force in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic of December 29, 2021 No. 2021-P-12/75-1)

(In the edition of the resolutions of the Board of the National Bank of the Kyrgyz Republic of December 29, 2021 No. 2021-P-12/75-1)

2. The Legal Department:

• 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 after the expiration of fifteen days from the date of official publication.

4. Control over the execution of this resolution is entrusted to the Member of the Board of the National Bank of the Kyrgyz Republic T.D. Jusupov.

Chairman of the Board of the National Bank of the Kyrgyz Republic		T. Abdygulov

		Appendix to the resolution of the Board of the National Bank of the Kyrgyz Republic of August 15, 2018 No. 2018-P-33/33-8-(NF KU)

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

(In the edition of the resolutions of the Board of the National Bank of the Kyrgyz Republic of December 29, 2021 No. 2021-P-12/75-1)

1. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Rules for Regulating the Activities of JSC "Financial Company of Credit Unions" from September 12, 2012 No. 37/3:

in the Rules for Regulating the Activities of JSC "Financial Company of Credit Unions," approved by the aforementioned resolution:

• rephrase the second paragraph of point 16 as follows:

"This report, certified by the signature of the head of the FCU, is also submitted to the National Bank on paper."

2. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On the Rules for Regulating the Activities of Credit Unions in the Kyrgyz Republic" from May 4, 2005 No. 14/2:

in the Rules for Regulating the Activities of Credit Unions in the Kyrgyz Republic, approved by the aforementioned resolution:

• rephrase point 7.1 as follows:

"7.1. Relevant structural departments of the National Bank carry out supervision over the activities of credit unions."

3. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On Measures of Impact Applied to Credit Unions" from March 23, 2006 No. 7/5:

in the Regulation "On Measures of Impact Applied to Credit Unions," approved by the aforementioned resolution:

• rephrase point 2.5-1 as follows:

"2.5-1. Regional departments and the representation of the National Bank in the Batken Region prepare draft documents for the meeting of the Supervision Committee of the National Bank and send them to the relevant structural department of the National Bank for subsequent submission to the Supervision Committee of the National Bank for consideration."

4. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On the Regulation "On the Periodic Regulatory Report of a Credit Union" from January 16, 2008 No. 3/3:

in the Regulation "On the Periodic Regulatory Report of a Credit Union," approved by the aforementioned resolution:

• in Appendix 2, replace the words "External Supervision Department" in various cases with the words "Relevant Structural Department."

5. Make amendments to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On Minimum Requirements for Credit Risk Management in Credit Unions" from December 23, 2009 No. 50/7:

in the Regulation "On Minimum Requirements for Credit Risk Management in Credit Unions," approved by the aforementioned resolution:

• in point 5.1.3, replace the word "institution" in various cases with the word "organization";

• in Appendix 1, replace the word "institution" in various cases with the word "organization."

6. (Lost force in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic of August 17, 2022 No. 2022-P-33/52-2)

7. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On Licensing the Activities of Microfinance Companies" from December 23, 2015 No. 78/26:

in the Regulation "On Licensing the Activities of Microfinance Companies," approved by the aforementioned resolution:

• in Appendix 14, exclude the words "and financial-credit organizations."

8. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On the Rules for Regulating the Activities of Microfinance Companies in the Territory of the Kyrgyz Republic" from February 19, 2003 No. 4/2:

in the Rules for Regulating the Activities of Microfinance Companies in the Territory of the Kyrgyz Republic, approved by the aforementioned resolution:

• throughout the text, replace the word "institution" in various cases with the word "organization" in the corresponding cases.

9. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Certain Regulatory Acts of the National Bank of the Kyrgyz Republic" from June 28, 2006 No. 19/4:

in the Regulation "On Minimum Requirements for Conducting External Audits of Microfinance Organizations in the Kyrgyz Republic," approved by the aforementioned resolution:

• throughout the text, replace the words "External Supervision Department" with the words "Department for Supervision of Non-Bank Financial and Credit Organizations."

10. Make amendments 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" from May 27, 2009 No. 25/3:

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

• in Appendix 2, replace the words "External Supervision Department" in various cases with the words "Relevant Structural Department";

2) in the Regulation "On the Periodic Regulatory Report of a Microfinance Company," approved by the aforementioned resolution:

• in Appendix 2, replace the words "External Supervision Department" in various cases with the words "Relevant Structural Department."

11. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation on Minimum Requirements for Credit Risk Management in Microfinance Organizations Not Attracting Deposits (Deposits)" from September 25, 2013 No. 35/14:

• in the Regulation "On Minimum Requirements for Credit Risk Management in Microfinance Organizations Not Attracting Deposits (Deposits)," approved by the aforementioned resolution:

• in point 4, replace the word "institutions" with the word "organizations."

12. (Lost force in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic of August 17, 2022 No. 2022-P-33/52-2)

13. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Procedure for Issuing a License for the Right to Conduct Exchange Operations with Cash Foreign Currency" from July 27, 2011 No. 40/4:

in the Regulation "On the Procedure for Issuing a License for the Right to Conduct Exchange Operations with Cash Foreign Currency," approved by the aforementioned resolution:

• in Appendix 5, replace the abbreviation "UMNL" with the abbreviation "UNNO."

14. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the "Rules for Regulating the Activities of Credit Unions Carrying Out Operations in Accordance with Islamic Principles of Banking and Financing" from July 16, 2014 No. 32/5:

in the Rules for Regulating the Activities of Credit Unions Carrying Out Operations in Accordance with Islamic Principles of Banking and Financing, approved by the aforementioned resolution:

• throughout the text, replace the words "financial-credit institutions" in various cases with the words "financial-credit organizations."

15. Make amendments 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" from October 17, 2014 No. 45/1:

1) in the Regulation "On the Periodic Regulatory Report of Microfinance Companies Carrying Out Operations in Accordance with Islamic Principles of Banking and Financing," approved by the aforementioned resolution:

• in Appendix 2, replace the words "External Supervision Department" in various cases with the words "Relevant Structural Department" in the corresponding cases;

2) in the Regulation "On the Periodic Regulatory Report 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, replace the words "External Supervision Department" in various cases with the words "Relevant Structural Department" in the corresponding cases;

3) in the Regulation "On the Periodic Regulatory Report of Credit Unions Carrying Out Operations in Accordance with Islamic Principles of Banking and Financing," approved by the aforementioned resolution:

• in Appendix 2, replace the words "External Supervision Department" in various cases with the words "Relevant Structural Department" in the corresponding cases.

16. Make amendments to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the "Order for Applying Special Classification of Loans Meeting Certain Criteria" from March 2, 2006 No. 5/6:

in the Order for Applying Special Classification of Loans Meeting Certain Criteria, approved by the aforementioned resolution:

• throughout the text, replace the word "institutions" in various cases with the word "organizations" in the corresponding cases;

• throughout the text, replace the abbreviation "FCU" with the abbreviation "FCO."

17. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic" from September 14, 2011 No. 52/4:

in the Regulation "On the Work of Banks with Securities," approved by the aforementioned resolution:

• in point 38, replace the words "External Supervision Department" with the words "relevant structural department of the National Bank."

18. Make an amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On Direct Banking Supervision" from May 28, 2008 No. 22/4:

in the Regulation "On Direct Banking Supervision," approved by the aforementioned resolution:

• throughout the text, replace the words "External Supervision Department" with the words "relevant structural department of the National Bank."

19. (Lost force in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic of December 29, 2021 No. 2021-P-12/75-1)