Resolution of the Board

of the National Bank

of the Kyrgyz Republic

of 12 April 2023

No. 2023-П-14/23-4-(ПС)

On Amendments to the Resolution

of the Board of the National Bank of the Kyrgyz Republic

«On Approval of the Rules for Making Money Transfers through Money Transfer

Systems in the Kyrgyz Republic» of 15 July 2009 No. 30/6

In accordance with Articles 5, 9 and 64 of the Constitutional 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. To introduce amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic «On Approval of the Rules for Making Money Transfers through Money Transfer Systems in the Kyrgyz Republic» of 15 July 2009 No. 30/6 (attached).

• 2. This Resolution shall enter into force upon the expiry of 15 (fifteen) days from the day of its official publication.

• 3. To the Legal Department:

  • from the day of receipt of the relevant documents, within 3 (three) working days, to publish this Resolution on the official website of the National Bank of the Kyrgyz Republic;

  • after official publication, to 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.

• 4. To the Payment Systems Department, after official publication, within 3 (three) working days, to bring this Resolution to the attention of commercial banks and operators of money transfer systems.

• 5. To the «Secretariat of the Board» Division to bring this Resolution to the attention of the Banking Supervision Department, regional departments and the Representative Office of the National Bank of the Kyrgyz Republic in the Batken region.

• 6. 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 Z. Chokoev

Annex
to the Resolution of the Board of the National Bank of the Kyrgyz Republic of 12 April 2023 No. 2023-П-14/23-4-(ПС)

Amendments

to the Resolution of the Board of the National Bank of the Kyrgyz Republic

«On Approval of the Rules for Making Money Transfers through Money Transfer Systems in the Kyrgyz Republic» of 15 July 2009 No. 30/6

To introduce the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic «On Approval of the Rules for Making Money Transfers through Money Transfer Systems in the Kyrgyz Republic» of 15 July 2009 No. 30/6:

in the Rules for Making Money Transfers through Money Transfer Systems in the Kyrgyz Republic, approved by the above-mentioned Resolution:

• to restate paragraph 3.2-1 as follows:

«3.2-1. The National Bank shall annul the registration of a money transfer system operator and make a corresponding entry in the register of money transfer system operators in the following cases:

• 1) in the case of revocation/annulment of the money transfer system operator's authorization documents, license/certificate/registration certificate for the right to carry out the activity of a money transfer system operator, issued by the authorized body for financial supervision of the country of origin, licensing/regulating the said activity;

• 2) in the case of submission by the money transfer system operator of an application for its exclusion from the register of money transfer system operators with the National Bank or other written notification of the termination by it of the activity of a money transfer system operator in the territory of the Kyrgyz Republic. An operator of an international money transfer system shall submit an application for annulment of registration and exclusion from the register only after making final settlement with the participants of the payment system. An operator of a local money transfer system shall submit an application for annulment of registration and exclusion from the register only after making final settlements in the money transfer system, taking into account all mutual settlements with recipients/senders of money transfers and participants of the system.

The National Bank shall notify in writing the money transfer system operator, commercial banks of the Kyrgyz Republic and other interested parties of the annulment of registration, and shall also post information on the annulment of registration on its official website.

The money transfer system operator must cease providing services through money transfer systems in the territory of the Kyrgyz Republic no later than the day the National Bank excludes it from the corresponding register and posts information about this on its official website.».