Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2021-P-33/53-8-(NFKU) of 28 September 2021 on Amending Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

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

of 28 September 2021 No. 2021-P-33/53-8-(NFKU)

On Amending Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

The Board of the National Bank of the Kyrgyz Republic, guided by Articles 20 and 68 of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activities", resolves:

To amend the following resolutions of the Board of the National Bank of the Kyrgyz Republic (attached):

"On Approval of the Regulation 'On the Creation and Activity of Microcredit Companies and Microcredit Agencies'" of 9 December 2015 No. 76/9;
"On Approval of the Regulation 'On Licensing the Activity of Housing Savings Credit Companies'" of 1 November 2019 No. 2019-P-33/55-1-(NFKU);
"On Approval of the Rules for Regulating the Activity of Guarantee Funds" of 9 September 2019 No. 2019-P-33/47-3-(NFKU);
"On Approval of the Regulation 'On the Procedure for Issuing a License for the Right to Conduct Exchange Operations with Cash Foreign Currency'" of 27 July 2011 No. 40/4;
"On Approval of the Regulation 'On Minimum Requirements for the Organization of Internal Control in Commercial Banks for the Purpose of Countering the Financing of Terrorist Activities and the Legalization (Laundering) of Criminal Proceeds', the Regulation 'On the Procedure for Conducting Exchange Operations with Cash Foreign Currency in the Kyrgyz Republic' and on Amending and Supplementing Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic on Issues of Countering the Financing of Terrorist Activities and the Legalization (Laundering) of Criminal Proceeds" of 14 August 2019 No. 2019-P-12/42-1-(NPA);
"On Approval of the Regulation 'On Licensing Credit Unions'" of 23 December 2015 No. 78/25;
"On Approval of the Regulation 'On Licensing the Activity of Credit Bureaus'" of 24 August 2016 No. 35/5;
"On the Rules for Regulating the Activity of Microfinance Companies in the Territory of the Kyrgyz Republic" of 19 February 2003 No. 4/2.

This resolution enters into force upon the expiration of fifteen days from the day of its official publication.
The Legal Department shall:

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.

The Department for Supervision of Non-Bank Financial and Credit Organizations shall bring this resolution to the attention of microcredit companies, microcredit agencies, housing savings credit companies, OJSC "Guarantee Fund", exchange bureaus, credit unions, credit bureaus, all structural subdivisions, regional departments and the representative office of the National Bank of the Kyrgyz Republic in Batken Oblast.
Control over the execution of this resolution shall be assigned to the member of the Board of the National Bank of the Kyrgyz Republic supervising the Department for Supervision of Non-Bank Financial and Credit Organizations.


	Chairman	T. Abdygulov

Annex

to the Resolution of the Board

of the National Bank

of the Kyrgyz Republic

of 28 September 2021

No. 2021-P-33/53-8-(NFKU)

Amendments to Certain Regulatory Legal Acts

of the National Bank of the Kyrgyz Republic

To amend the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Creation and Activity of Microcredit Companies and Microcredit Agencies'" of 9 December 2015 No. 76/9 as follows:

in the Regulation "On the Creation and Activity of Microcredit Companies and Microcredit Agencies" approved by the above resolution:

in paragraph 11, after the words "signed by the head of the MCC/MCA or another authorized person", the words "and certified by the seal of the MCC/MCA" shall be excluded;
in paragraph 17:

subparagraph 3 shall be restated as follows:

"3) decision of the authorized management body of the MCC/MCA:

on the appointment of the chief accountant (an accountant or an invited accountant with the rights of a chief accountant in the absence of a chief accountant position in the staff) (hereinafter – chief accountant);
on the appointment of the head of the lending subdivision (if any), the head of the subdivision/employee for financing in accordance with Islamic principles of banking and financing (in the event that the MCC/MCA intends to carry out operations in accordance with Islamic principles of banking and financing);
on the appointment of the employee responsible for the development and implementation of the internal control program for compliance with legislation on countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds;
on the organizational structure of the MCC/MCA (management bodies, structural subdivisions (departments, divisions), their functional duties, scope of issues considered, subordination);";

supplement with a paragraph of the following content:

"Along with the submission of the documents provided for by this Regulation, MCCs/MCAs, individuals and legal entities must provide consent to the collection and processing of personal data in accordance with Annex 11 to this Regulation in respect of persons whose personal data are submitted to the National Bank. Failure to provide the above consent is grounds for refusal to consider the submitted documents, including on issues of approval of officials of the MCC/MCA, including heads, chief accountants of separate structural subdivisions of the MCC/MCA, founders (participants, shareholders) of the MCC and founders (participants) of the MCA.";

in paragraph 42:

in the first paragraph, the words "Branches of the MCC/MCA" shall be replaced by the words "MCC/MCA and branches of the MCC/MCA";

the fifth paragraph shall be restated as follows:

"Structural subdivisions carry out activity on behalf of the MCC/MCA and/or their branches.";

the sixth paragraph shall be restated as follows:

"The MCC/MCA is obliged to notify the National Bank of the opening/closing of such structural subdivisions within 10 (ten) calendar days from the date of adoption of the decision on their opening/closing.";

subparagraph 1 of paragraph 77 shall be restated as follows:

"1) purchase and subsequent sale of debt obligations (factoring) (1), except for one-time operations;";

in Annex 4, the words "for overcoming poverty" shall be replaced by the words "for assistance in overcoming poverty";
in Annex 8, the words "for overcoming poverty" shall be replaced by the words "for assistance in overcoming poverty";
in Annex 10, the words "for overcoming poverty" shall be replaced by the words "for assistance in overcoming poverty";
The Regulation shall be supplemented with Annex 11 of the following content:


		Annex 11 to the Regulation "On the Creation and Activity of Microcredit Companies and Microcredit Agencies"

Consent of the personal data subject to the collection and processing of his/her personal data


Locality, date I, ______ (last name, first name, patronymic) residing at the address: ______ Identity document: ______ series ______ No. ______ (type of document) issued ______ (date of issue) (by whom issued) (for authorized persons) acting on behalf of ______ (last name, first name, patronymic) residing at the address: ______ Identity document: ______ series ______ No. ______ (type of document) issued ______ (date of issue) (by whom issued) on the basis of ______ (power of attorney, law, other legal act)

Locality, date I, ______ (last name, first name, patronymic) residing at the address: ______ Identity document: ______ series ______ No. ______ (type of document) issued ______ (date of issue) (by whom issued) (for authorized persons) acting on behalf of ______ (last name, first name, patronymic) residing at the address: ______ Identity document: ______ series ______ No. ______ (type of document) issued ______ (date of issue) (by whom issued) on the basis of ______ (power of attorney, law, other legal act)

freely, consciously, of my own will, I give full and unconditional consent to the National Bank of the Kyrgyz Republic:

to the processing (any operation or set of operations performed regardless of methods, by the National Bank or on its behalf, by automated means or without such means for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as to:
the transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic "On Personal Information" and international treaties);
cross-border transfer of personal data (transfer by the National Bank of personal data to holders located under the jurisdiction of other states) of all personal data provided by me in accordance with the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activities" and the Regulation on the Creation and Activity of Microcredit Companies and Microcredit Agencies.

The above consent extends, inter alia, to the following personal data: last name, first name and patronymic (previous last name, first name, patronymic, date, place and reason for change (in case of change); date and place of birth; information on citizenship (including previous citizenship, other citizenships); information on education (name and year of graduation of the educational organization, name and details of the education document, qualification, field of training or specialty according to the education document); information on the presence of an academic degree; information on knowledge of foreign languages, level of proficiency; address of place of residence (place of stay); contact telephone number or information on other means of communication; type, series, number of the identity document, name of the issuing authority, date of issue; taxpayer identification number; marital status, composition of family and close relatives; information on labor activity (including military service, part-time work, entrepreneurial activity, activity on the basis of service contracts, etc.); state awards, other awards and insignia (by whom awarded and when); information on the presence or absence of a criminal record, including on applied measures of disciplinary, administrative liability and liability for committing offenses and violations; information on income, expenses, property and property obligations; personal photograph).

I provide the above personal data for processing for the purposes of the National Bank's carrying out licensing procedures (including approval of officials, acquisition of shares, expansion of MCC activity) provided for by the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, Banks and Banking Activities" and the Regulation "On the Creation and Activity of Microcredit Companies and Microcredit Agencies".

I hereby confirm that I have been notified of the transfer of my personal data to other state bodies, credit bureaus and foreign banking and financial supervision and regulation bodies for verification of their accuracy and for identifying information on issues of impeccable business reputation and qualifications, including consciously and unconditionally confirming that I do not require subsequent notification of me in accordance with Article 24 of the Law of the Kyrgyz Republic "On Personal Information" and paragraph 12 of the Procedure for Obtaining Consent of the Personal Data Subject to the Collection and Processing of His/Her Personal Data, the Procedure and Forms of Notification of Personal Data Subjects on the Transfer of Their Personal Data to a Third Party, approved by Resolution of the Government of the Kyrgyz Republic of 21 November 2017 No. 759, when the National Bank transfers my personal data to the above persons within the framework of supervision and licensing procedures.

Consent to the processing of personal data is indefinite (valid permanently for the purposes of supervision and licensing) and is valid from the date of signing this consent.

"_" ______ 20.


______
Signature		Full name

To amend the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Licensing the Activity of Housing Savings Credit Companies'" of 1 November 2019 No. 2019-P-33/55-1-(NFKU) as follows:

in the Regulation "On Licensing the Activity of Housing Savings Credit Companies" approved by the above resolution:

subparagraphs 1 and 2 of paragraph 65 shall be restated as follows:

"1) possession of a higher education diploma and work experience (experience) of at least 2 (two) years in the field of economics/finance/banking/law. At the same time, work in subdivisions related to the regulation of security issues and the performance of technical or economic activity shall not be included in the work experience;

2) possession of knowledge of banking legislation and in the field of corporate governance, confirmed by documents on completion of training in these areas;";

in paragraph 67:

in the fourth paragraph of subparagraph 2, the words "economics and finance" shall be replaced by the words "economics/finance/banking";

subparagraph 3 shall be restated as follows:

"3) possession of knowledge in the field of legislation regulating the activity of banks and housing savings credit companies, as well as on issues of risk management and corporate governance, confirmed by documents on completion of training in this area.".

To make the following additions to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Rules for Regulating the Activity of Guarantee Funds" of 9 September 2019 No. 2019-P-33/47-3-(NFKU):

in the Rules for Regulating the Activity of Guarantee Funds approved by the above resolution:

paragraph 11 shall be supplemented with the eleventh paragraph of the following content:

"- limit on guarantees for refinancing.";

The Rules shall be supplemented with paragraph 23-1 of the following content:

"23-1. Guarantee funds must comply with the limit on guarantees for refinancing. The amount of issued guarantees for refinanced loans must be limited within 10% of the own capital of the guarantee fund.

At the same time, within the framework of the implementation of state programs, the limit is set within 20% of the own capital of the guarantee fund.".

To amend 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'" of 27 July 2011 No. 40/4 as follows:

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

paragraph 2 shall be supplemented with the second paragraph of the following content:

"The National Bank, if necessary, within the framework of consideration of issues on issuing a license for the right to conduct exchange operations with cash foreign currency, has the right to request from applicants relevant documents not included in the lists.";

in paragraph 9:

subparagraph "b", after the words "information on the sources", shall be supplemented with the word "of origin";

subparagraph "d" shall be restated as follows:

"d) decision of the authorized management body of the applicant legal entity on the opening of an exchange bureau and on the investment of the founder's funds to replenish the working capital of the exchange bureau by 1,000,000 (one million) soms;";

subparagraph "z" shall be restated as follows:

"z) certificate from a commercial bank confirming the presence on the account of the applicant legal entity in a commercial bank of working capital funds (the certificate must be issued no earlier than 14 calendar days before the day of submission of documents) in national currency in the following amounts:

not less than 1,000,000 (one million) soms;
not less than 500,000 (five hundred thousand) soms for exchange bureaus opened by legal entities that intend to carry out exchange operations with cash foreign currency on a seasonal basis (less than 4 months consecutively in one calendar year);";

subparagraph "i" shall be recognized as having lost force;

subparagraph "m" shall be restated as follows:

"m) copy of the passport of the founder/participant of the applicant legal entity and the head of the exchange bureau;";

the paragraph shall be supplemented with subparagraph "n" of the following content:

"n) internal procedure of the exchange bureau regulating the provision of reporting and the procedure for performing cash operations.";

in paragraph 9-1:

in the first paragraph, the words "1 month" shall be replaced by the words "30 (thirty) calendar days";

in subparagraph 2:

the first paragraph shall be restated as follows:

"documents confirming the presence of working capital funds (issued no earlier than 14 calendar days before the day of submission of documents) in national currency in the following amounts:";

in the second paragraph, the words "one million" shall be replaced by the words "one million";

in the third paragraph, the word "five hundred" shall be replaced by the word "five hundred";

subparagraph 3 shall be restated as follows:

"3) information on the sources of origin of the working capital of the exchange bureau (in the event that they were not previously provided upon obtaining the previous license and if there is a difference in the amounts of working capital) (Annex 8-1);";

subparagraph 5 shall be recognized as having lost force;

subparagraph 8 shall be restated as follows:

"8) copy of the passport of the founder/participant of the applicant legal entity and the head of the exchange bureau.

In the event that more than 30 calendar days have passed since the expiration of the license for the right to conduct exchange operations with cash foreign currency, then to obtain a new license the legal entity shall submit documents in accordance with paragraph 9 of this Regulation.";

supplement with paragraph 10-1 of the following content:

"10-1. In the event of the introduction in the territory of the Kyrgyz Republic or in its individual areas of an emergency situation and/or state of emergency or as a result of force majeure (pandemic, natural disasters, etc.), inspections of the premises of exchange bureaus shall be suspended until a decision is made on their resumption in the appropriate manner.";

in paragraph 20, the words "three years" shall be replaced by the words "5 (five) years";
paragraph 25 shall be restated as follows:

"25. In the event of a change of founder or participant of a legal entity, if necessary as determined by the National Bank, the licensee shall, within a period not later than 10 (ten) calendar days from the day of passing re-registration, submit to the National Bank the following documents:

1) notification of the introduction of amendments to the constituent documents;

2) copy of the decision of the participant (in the case of one participant) or the minutes of the general meeting of participants (in the case of more than one participant) on the introduction of amendments to the constituent documents, certified by the seal of the licensee;

3) documents issued no earlier than 14 calendar days before the day of submission of documents, confirming the presence of working capital funds in national currency in the following amounts:

not less than 1,000,000 (one million) soms;
not less than 500,000 (five hundred thousand) soms for exchange bureaus opened by legal entities that intend to carry out exchange operations with cash foreign currency on a seasonal basis (less than 4 months consecutively in one calendar year);

4) information on the sources of origin of the working capital of the exchange bureau (in the event that they were not previously provided upon obtaining the previous license and if there is a difference in the amounts of working capital) (Annex 8-1);

5) decision on the appointment of the head of the exchange bureau (in the event of a change of head);

6) copy of the lease agreement containing data that allow identifying the premises of the exchange bureau, or a copy of the title document confirming ownership of the premises of the exchange bureau, certified by the seal of the applicant;

7) order on the appointment of the official responsible for compliance with the internal control rules on countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds during exchange operations with cash foreign currency;

8) copy of the passport of the founder/participant of the applicant legal entity and the head of the exchange bureau;

9) copies of the constituent documents with the amendments made, certified by the seal of the licensee;

10) copy of the certificate of state re-registration, certified by the seal of the licensee.";

paragraph 32 shall be restated as follows:

"32. For registration of an additional exchange bureau, the licensee shall submit to the National Bank the following documents:

application for registration of an additional exchange bureau in the form of Annex 6;
copy of the lease agreement or a copy of the document confirming ownership of the premises of the additional exchange bureau, certified by the seal of the licensee;
decision or order on the opening of an additional exchange bureau and the appointment of the head of the additional exchange bureau;
certificate from a commercial bank confirming the presence on the account of the applicant in a commercial bank of working capital funds (the certificate must be issued no earlier than 14 calendar days before the day of submission of documents) in national currency in the following amounts:
not less than 1,000,000 (one million) soms;
not less than 200,000 (two hundred thousand) soms for additional exchange bureaus opened by legal entities that intend to carry out exchange operations with cash foreign currency on a seasonal basis (less than 4 months consecutively in one calendar year).
information on the sources of origin of the working capital of the additional exchange bureau (in the event that they were not previously provided upon obtaining the previous license) (Annex 8-1);
copy of the passport of the founder/participant of the applicant legal entity and the head of the exchange bureau.";
The Regulation shall be supplemented with paragraph 32-1 of the following content:

"32-1. In the event that a legal entity's license for the right to conduct exchange operations with cash foreign currency expires or no more than 30 calendar days have passed since the day of expiration, then to obtain a new letter on registration of an additional exchange bureau the legal entity shall submit the following documents:

application for registration of an additional exchange bureau in the form of Annex 6;
a copy of the lease agreement or a copy of the document confirming ownership of the premises of the additional exchange bureau, certified by the licensee's seal;
the decision or order on the appointment of the head of the additional exchange bureau;
documents issued no earlier than 14 calendar days before the day of submission of documents, confirming the availability of working funds in the national currency in the following amounts:
not less than 1,000,000 (one million) soms;
not less than 200,000 (two hundred thousand) soms for additional exchange bureaus opened by legal entities that intend to carry out operations for the exchange of cash foreign currency on a seasonal basis (less than 4 months consecutively in one calendar year);
information on the sources of origin of the working funds of the additional exchange bureau (Appendix 8-1) and on the existence of a difference in the amounts of working funds.";
in paragraph 35-1:

in the first paragraph, the words "within 3 (three) days" shall be replaced by the words "within 3 (three) working days";

the second paragraph, after the words "measures of influence", shall be supplemented with the words "in accordance with the legislation of the Kyrgyz Republic";

in paragraph 44:

subparagraph 8 shall be stated in the following wording:

"8) systematic violation of cash discipline (in the event that the term of the current licence has not yet expired) with 2 (two) or more violations during the last 12 (twelve) months;";

subparagraph 15 shall be stated in the following wording:

"15) the existence of an unexpunged and outstanding criminal record for the commission of a crime in the sphere of economics on the part of the founder/participant of the applicant legal entity and/or the head of the exchange bureau;";

the paragraph shall be supplemented with subparagraph 15-1 of the following content:

"15-1) the existence of outstanding debt (fine) for violations related to the conduct of operations for the exchange of cash foreign currency on the part of the founder/participant of the applicant legal entity and/or the head of the exchange bureau;";

supplemented with subparagraph 17 of the following content:

"17) carrying out exchange operations with cash foreign currency after the expiry of the licence, including during the submission of documents to obtain a new licence in accordance with paragraph 9-1 of the Regulation or before the corresponding court decision.";

in Appendix 1, the words "within three years" shall be replaced by the words "within five years";
Appendix 3 shall be declared void.

To introduce into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On minimum requirements for the organization of internal control in commercial banks for the purposes of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds', the Regulation 'On the procedure for conducting exchange operations with cash foreign currency in the Kyrgyz Republic' and on introducing amendments and additions to certain regulatory legal acts of the National Bank of the Kyrgyz Republic on issues of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds" of 14 August 2019 No. 2019-P-12/42-1-(NPA) the following amendments:

in the Regulation "On the procedure for conducting exchange operations with cash foreign currency in the Kyrgyz Republic", approved by the above-mentioned resolution:

in paragraph 1, the words "at the expense of own funds (within the declared working funds)" shall be replaced by the words "at the expense of own funds (within working funds)";
paragraph 3 shall be supplemented with the eleventh paragraph of the following content:

"Working funds of an exchange bureau – this is the amount of own funds of the exchange bureau at the time of submission of an application to the National Bank for the opening of an exchange bureau, the profit or loss received in the course of the exchange bureau's activities, as well as attracted funds.";

in paragraph 8:

subparagraph 16 shall be stated in the following wording:

"16) timely and reliably submit to the National Bank reporting data on conducted exchange operations. MFCs, MCCs, CSs and exchange bureaus shall submit reporting data to the National Bank in electronic form, in accordance with Appendix 1. Banks shall submit reporting data in accordance with the deadlines established by the National Bank within the framework of the periodic regulatory banking report, SFIs – within the framework of the periodic regulatory report.

In the event of failure to submit reports, banks, MFCs, MCCs, CSs, exchange bureaus and SFIs shall be obliged to notify the National Bank of the reasons for the failure to submit reports in writing, no later than the next working day.

MFCs, MCCs, CSs, exchange bureaus/additional exchange bureaus, SFIs shall be obliged to indicate non-working (weekend) days on the portal before 9:30 a.m. of the non-working (weekend) day.

the paragraph shall be supplemented with subparagraph 27-1 of the following content:

"27-1) appoint an employee responsible for providing the daily report.";

in paragraph 18, the words "within the declared amount of working funds" shall be replaced by the words "within the amount of working funds";
the Regulation shall be supplemented with paragraph 40-1 of the following content:

"40-1. In the event of an increase and/or decrease in the amount of working funds of an exchange bureau by 1,000,000 (one million) soms or more, the exchange bureau must notify the National Bank in writing within 3 (three) working days, while the amount of working funds of the exchange bureau must not be less than 1,000,000 (one million) soms.

In the event of a cumulative increase and/or decrease in the amount of working funds of an exchange bureau carrying out operations for the exchange of cash foreign currency on a seasonal basis (less than 4 months consecutively in one calendar year)

by 500,000 (five hundred thousand) soms or more, the exchange bureau must notify the National Bank in writing within 3 (three) working days, while the amount of working funds of the exchange bureau carrying out operations for the exchange of cash foreign currency on a seasonal basis (less than 4 months consecutively in one calendar year) must not be less than 500,000 (five hundred thousand) soms.

The exchange bureau must submit to the National Bank information on the sources of origin of the funds that are directed to increase the working funds of the exchange bureau (Appendix 8-1).";

the fourth paragraph of paragraph 57 shall be stated in the following wording:

"- suspend the licence for a period of up to 15 (fifteen) calendar days, and in the event of failure to eliminate the identified violations, repeatedly for a period of up to 30 (thirty) calendar days;";

in Appendix 1:

the table "Reference No. 1. Explanations on other income" shall be stated in the following wording:

"Reference No. 1. Explanations on other income


Code	Name of operation
1	Attraction of own funds to increase working capital
2	Receipt of funds under a previously issued loan
3	Other types of receipts of funds

To introduce into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On licensing of credit unions'"

of 23 December 2015 No. 78/25 the following amendments:

In the Regulation "On licensing of credit unions", approved by the above-named resolution:

in paragraph 17:

in the fifth paragraph, the words "on the election/appointment of the chairman and members of the board" shall be replaced by the words "on the election/appointment of members of the board";
the seventh paragraph shall be declared void;
in the twelfth paragraph, the words "the chairman and members of the board, the chairman of the supervisory council (if any), the chief accountant" shall be replaced by the words "members of the board, the chairman of the supervisory council (if any),".

To introduce into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On licensing of the activities of credit bureaus'" of 24 August 2016 No. 35/5 the following addition:

In the Regulation "On licensing of the activities of credit bureaus", approved by the above-named resolution:

The Regulation shall be supplemented with paragraph 21-1 of the following content:

"21-1. In the event of the repeated election of the candidacy of the head of a credit bureau, approval from the National Bank is not required.".

To introduce into 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'" of 19 February 2003 No. 4/2 the following amendment:

In the Rules for regulating the activities of microfinance organizations in the territory of the Kyrgyz Republic, approved by the above-mentioned resolution:

in the seventh paragraph of paragraph 2.5.1., the figures "2.4.-2" shall be replaced by the figures "2.4.-1".

Lineage: No known changes

Timeline