Resolution of the Board

of the National Bank

of the Kyrgyz Republic

dated «11» December 2019
No. 2019-P-14/62-6-(PS)

On Amendments to the Resolution

of the Board of the National Bank of the Kyrgyz Republic «On Approval of the Regulation

«On Minimum Requirements for the Provision of Remote/Distance Services in the Kyrgyz Republic» dated 15 April 2015 No. 22/3»

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 Activities», the Board of the National Bank of the Kyrgyz Republic resolves:

1. To introduce the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic «On Approval of the Regulation «On Minimum Requirements for the Provision of Remote/Distance Services in the Kyrgyz Republic» dated 15 April 2015 No. 22/3»:

• paragraph 2, after the words «to commercial banks,», shall be supplemented with the words «to non-bank financial and credit organizations,»;

• in paragraph 4:

  • subparagraph 2 shall be restated as follows:

«2) Service provider – banks, non-bank financial and credit organizations (hereinafter – NFCO), payment system operators and payment organizations holding a license/certificate of the National Bank for the right to carry out certain banking operations and payment services, as provided for by the legislation of the Kyrgyz Republic.»;

    - subparagraph 3 shall be restated as follows:

«3) User – an individual or legal entity or an individual entrepreneur using remote banking and payment services for remote management of their bank account, electronic wallet or obligations to the NFCO.»;

    - shall be supplemented with subparagraph 8 as follows:

«8) Personal account – a special user section in the information system of the service provider that allows access to data on the status of the account/credit limit and cash flow, as well as to send applications, confirmations and instructions to the service provider.»;

    - shall be supplemented with subparagraph 9 as follows:

«9) User's obligations to the NFCO – obligations of the user arising from obtaining a loan from the NFCO, as well as through the management of the personal account.»;

• in paragraph 10:

  • the second paragraph, after the words «electronic wallets», shall be supplemented with the words «, as well as the user's obligations to the NFCO»;

  • the seventh paragraph, after the words «in the bank account», shall be supplemented with the words «, on the user's obligations to the NFCO»;

• in paragraph 14:

  • the first paragraph, after the words «through internet banking», shall be supplemented with the words «(user's personal account).»;

  • subparagraph 1, after the words «through internet banking», shall be supplemented with the words «(user's personal account)»;

  • throughout the text, after the words «internet banking», shall be supplemented with the words «(user's personal account)»;

• paragraph 15 in the third paragraph, after the words «bank account,», shall be supplemented with the words «the user's obligations to the NFCO,»;

• paragraph 27, after the words «bank accounts», shall be supplemented with the words «, the user's obligations to the NFCO».

2. To 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 Normative Legal Acts of the Kyrgyz Republic.

3. This resolution shall enter into force upon the expiration of fifteen days from the day of official publication.

4. To the Payment Systems Department: bring this resolution to the attention of payment organizations and payment system operators, the Legal Entity «Association of Payment System Operators KG», the Legal Entity «Association of Communication Operators» and commercial banks.

5. To the Department for Supervision of Non-Bank Financial and Credit Organizations: bring this resolution to the attention of non-bank financial and credit organizations.

6. To the Department for the Development of the State Language and Document Management: bring this resolution to the attention of the relevant structural subdivisions, regional departments and the representative office of the National Bank in the Batken region.

7. To entrust control over the execution of this resolution to the member of the Board of the National Bank of the Kyrgyz Republic supervising the Payment Systems Department.

Acting Chairman A. Tezekbaeva