Resolution of the Board

of the National Bank

of the Kyrgyz Republic

of 8 December 2023

No. 2023-P-12/76-1-(BS)

On Amending

Certain Regulatory Legal Acts

of the National Bank of the Kyrgyz Republic

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

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

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

• "On Approval of the 'Rules for the Creation and/or Acquisition of Subsidiary or Affiliated Companies by Commercial Banks of the Kyrgyz Republic'" of 10 June 2009 No. 26/3;

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

• "On Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic" of 30 June 2010 No. 52/4;

• "On Approval of the Instruction on the Provision by Commercial Banks of the Kyrgyz Republic to Clients of Individual Bank Safes for the Storage of Valuables" of 12 September 2012 No. 37/2;

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

• "On Approval of the Instruction on Working with Bank Accounts, Bank Deposit Accounts" of 31 October 2012 No. 41/12;

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

• "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 Rules for Regulating the Activities of Housing Savings Credit Companies" of 1 November 2019 No. 2019-P-33/55-2-(NFKU);

• "On the Procedure for Identification and Verification of Clients in Remote Mode" of 13 May 2020 No. 2020-P-12/27-1-(NPA);

• "On the Procedure for Identification and Verification of Clients of Microfinance Organizations in Remote Mode" of 30 September 2020 No. 2020-P-33/54-3-(NFKU);

• "On Approval of the Regulation 'On Measures of Influence Applied to Non-Bank Financial and Credit Organizations and Other Legal Entities Supervised by the National Bank of the Kyrgyz Republic'" of 23 December 2020 No. 2020-P-33/73-12-(NFKU);

• "On Approval of the Regulation 'On the Procedure for Carrying Out Syndicated Lending in the Kyrgyz Republic'" of 18 May 2022 No. 2022-P-12/31-1-(BS);

• "On Approval of the Instruction on Maintaining a Database on the Obligations of a Bank, Housing Savings Credit Company, Microfinance Company Attracting Deposits to Depositors" of 2 June 2022 No. 2022-P-12/35-1-(NPA);

• "On Approval of the Regulation 'On Economic Norms and Requirements Mandatory for Commercial Banks of the Kyrgyz Republic'" of 14 December 2022 No. 2022-P-12/78-7-(NPA).

2. This resolution enters into force upon the expiration of fifteen days from the day of official publication.

3. To the Legal Department:

• from the day of receipt of the relevant documents, within 3 (three) working days, 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.

4. To the Supervision Methodology Department, after official publication, within 3 (three) working days, bring this resolution to the attention of the Legal Entity Association "Union of Banks of Kyrgyzstan", commercial banks, the Legal Entity Association "Association of Microfinance Organizations", the Legal Entity Association "National Association of Credit Unions and Cooperatives", non-bank and specialized financial and credit organizations, credit bureaus, exchange bureaus, structural subdivisions, regional departments and the Representative Office of the National Bank of the Kyrgyz Republic in Batken Oblast.

5. 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 Supervision Methodology Department.

Acting Chairman K. Kulenbekov

Annex
to the resolution of the Board of the National Bank of the Kyrgyz Republic of 8 December 2023 No. 2023-P-12/76-1-(BS)

Amendments to Certain Regulatory Legal Acts

of the National Bank of the Kyrgyz Republic

1. 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 Organizations in the Territory of the Kyrgyz Republic'" of 19 February 2003 No. 4/2 the following amendments:

in the Rules for Regulating the Activities of Microfinance Organizations in the Territory of the Kyrgyz Republic, approved by the above-mentioned resolution:

• paragraph 2.6 shall be set forth in the following wording:

"2.6. MFIs must conduct office work in the state language and, if necessary, in the official language. All internal documents, including contracts, agreements, arrangements with counterparties, must be drawn up in the state language and, if necessary, in the official language. At the same time, it is permitted to draw up contracts with counterparties in the state and official and in a foreign language, having equal legal force. Execution of contracts in a foreign language is permitted only if there is a duly certified translation into the state or official language.";

• paragraph 7.9 shall be stated in the following wording:

"7.9. MCC/MCA must conduct office work in the state language and, if necessary, in the official language. All internal documents, including contracts, agreements, arrangements with counterparties, must be executed in the state language and, if necessary, in the official language. At the same time, it is permitted to execute contracts with counterparties in the state and official languages and in foreign languages, having equal legal force. Execution of contracts in a foreign language is permitted only if there is a translation into the state or official language.".

2. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic "On certain normative acts of the National Bank of the Kyrgyz Republic" dated 28 June 2006 No. 19/4:

in the Regulation "On minimum requirements for conducting external audit of microfinance organizations in the Kyrgyz Republic", approved by the above-mentioned resolution:

• in the fifth paragraph of paragraph 3.6, the words "to the Department of Supervision of Non-Bank Financial and Credit Organizations" shall be replaced by the words "to the central office";

• in paragraph 3.11, the words "to the Department of Supervision of Non-Bank Financial and Credit Organizations" shall be replaced by the words "to the central office".

3. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the 'Rules for the creation and/or acquisition of subsidiary or dependent companies by commercial banks of the Kyrgyz Republic'" dated 10 June 2009 No. 26/3:

in the Rules for the creation and/or acquisition of subsidiary or dependent companies by commercial banks of the Kyrgyz Republic, approved by the above-mentioned resolution:

in paragraph 2.1:

• to supplement with subparagraph 16 with the following content:

"16) provision of services for the development of financial technologies for the implementation of banking services.";

• to supplement with the twenty-third paragraph with the following content:

"Subsidiary and dependent companies providing services for the development of financial technologies are not entitled to carry out other activities.".

4. To introduce the following changes 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'" dated 23 December 2009 No. 50/7:

in the Regulation "On minimum requirements for credit risk management in credit unions", approved by the above-mentioned resolution:

• paragraph 5.2.1 shall be stated in the following wording:

"5.2.1. The credit agreement concluded between a credit union and a member, with all annexes thereto, and other contracts/agreements, shall be drawn up in the state language and, if necessary, in the official language. The number of original copies of the credit agreement must be no less than the number of parties that concluded the agreement. The credit union must ensure the preservation of the original copies of the credit agreement in accordance with the legislation of the Kyrgyz Republic. The text of the credit agreement must be accessible for perception and understanding by the borrower. The rights and obligations of the member arising from the terms of the credit agreement must be reflected in a separate section of the credit agreement. Throughout the entire text of the credit agreement and in all annexes thereto, the font must be the same and its size must be no less than 12 (no less than 16 – for a client with visual impairment upon request). When servicing a client with visual or hearing impairment, the credit union must, at the client's request, provide audio reproduction/sign language interpretation of the text of the credit agreement and other documents signed by the client. A client who is unable, due to existing impairments, to sign independently, may use a facsimile signature in the credit agreement and other documents, taking into account the requirements of the legislation of the Kyrgyz Republic.";

in Annex 1 to the Regulation:

• paragraph 9 shall be stated in the following wording:

"9. Credit agreement in the state language and, if necessary, in the official language, annexes thereto, as well as additionally concluded agreements with the member during restructuring or prolongation, assignment of rights of claim.".

5. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic "On certain normative legal acts of the National Bank of the Kyrgyz Republic" dated 30 June 2010 No. 52/4:

in the Regulation "On minimum requirements for credit risk management in commercial banks and other financial and credit organizations licensed by the National Bank of the Kyrgyz Republic", approved by the above-mentioned resolution:

• in the thirtieth paragraph of paragraph 12 in the official language, the words "in extrajudicial procedure" shall be excluded;

• paragraph 39 shall be stated in the following wording:

"39. The credit agreement and the attached list of expenses (payments) of the bank's client, concluded between the bank and the client, as well as other agreements concluded between the bank and the client by agreement, shall be drawn up in the state language and, if necessary, in the official language (if necessary, the text of the agreement may be translated into another language). This consent shall be filed/stored in the client's credit file. The text of the credit agreement must be clear and accessible for perception and understanding by the borrower. The rights and obligations of the client arising from the terms of the credit agreement must be reflected in a separate section. The font used in the credit agreement with all annexes must be the same throughout the entire text of the agreement. The font size must be no less than 12 (no less than 16 – for a client with visual impairment). At the same time, agreements on loans issued through a remote/distance service channel in amounts established by normative legal acts of the National Bank may be signed by means of an electronic signature allowing verification of its belonging to a party to the agreement. When servicing a client with a visual or hearing impairment, the bank must, at the client's request, provide audio reproduction/sign language interpretation of the text of the loan agreement and other documents signed by the client. A client who, due to existing impairments, is unable to sign independently, may use a facsimile signature in the loan agreement and other documents, taking into account the requirements of the legislation of the Kyrgyz Republic.";

• paragraph seven of point 41 shall be amended to read as follows:

" - the client's right to early repayment of the loan (leasing) in full or in part at any time without charging any commissions, penalties and other payments in accordance with the requirements of the legislation of the Kyrgyz Republic. In case of early repayment of the loan by one of the participants of the JSC, the bank may request the written consent of the participants of the JSC;";

• point 54 shall be amended to read as follows:

"54. The pledge agreement shall be drawn up in the state language and, if necessary, in the official language. At the same time, the text of the pledge agreement must be clear and accessible for perception and understanding by the borrower/pledgor.";

in Appendix 1 to the Regulation:

• point 5 shall be amended to read as follows:

"5. Loan agreement in the state language and, if necessary, in the official language.";

• point 17 shall be amended to read as follows:

"17. Pledge agreement in the state language and, if necessary, in the official language.";

• in Appendix 2 to the Regulation:

  • point 3 shall be amended to read as follows:

"3. The original of the guarantee letter must be drawn up in the state language and, if necessary, in the official language. Also, the guarantee letter may additionally be drawn up in a foreign language subject to the condition specified in the first sentence of this point.".

6. To introduce the following amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Instruction on the provision by commercial banks of the Kyrgyz Republic to clients of individual bank safes for storing valuables" dated 12 September 2012 No. 37/2:

• in point 1 of the official language, the word "deposit" shall be replaced by the word "bank";

in the Instruction on the provision by commercial banks of the Kyrgyz Republic to clients of individual bank safes for storing valuables, approved by the above-mentioned resolution:

• the title of the Instruction in the state language shall be amended to read as follows:

"Кыргыз Республикасынын коммерциялык банктары тарабынан баалуулуктарды сактоо үчүн банктык өздүк сейфтердин кардарларга берилиши боюнча нускоону бекитүү тууралуу";

• to supplement with point 5-1 of the following content:

"5-1. The bank is recommended to pay special attention to issues of interaction and assistance to clients with limited health capabilities when providing them with a safe, including those concerning:

• rules of etiquette when communicating with the client;

• rules of accompanying the client when the bank employee and the client perform necessary operations within the framework of servicing;

• application of available measures for the most comfortable servicing;

• communication with the client himself, and not with his accompanying person, if the client has not chosen another method of communication;

• minimization of stress factors in the process and full (detailed) explanation of bank procedures for servicing the client";

  • in point 6, after the thirty-second paragraph, supplement with the thirty-third paragraph of the following content:

"When servicing a client with a visual or hearing impairment, the bank must, at the client's request, provide audio reproduction/sign language interpretation of the text of the agreement for storing valuables in an individual bank safe and other documents signed by the client. A client who, due to existing impairments, is unable to sign independently, may use a facsimile signature in the agreement for storing valuables in an individual bank safe and other documents signed by the client, taking into account the requirements of the legislation of the Kyrgyz Republic.";

• point 13 shall be amended to read as follows:

"13. The storage agreement shall be drawn up in at least two copies in the state language and, if necessary, in the official language. One copy of the storage agreement remains with the bank, the other is given to the client.".

7. To introduce the following 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 OJSC 'Financial Company of Credit Unions'" dated 12 September 2012 No. 37/3:

in the Rules for regulating the activities of OJSC 'Financial Company of Credit Unions', approved by the above-mentioned resolution:

• point 44 shall be amended to read as follows:

"44. Reporting on the fulfillment of economic standards must be published in mass media of republican significance in the state language and, if necessary, in the official language according to the form of Appendix 2 to these Rules.".

8. To introduce the following amendment to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Instruction on working with bank accounts, accounts for bank deposits" dated 31 October 2012 No. 41/12:

• in point 1 in the state language, the word "жөнүндө" shall be replaced by the word "боюнча";

in the Instruction on working with bank accounts, accounts for bank deposits, approved by the above-mentioned resolution:

• the title of the Instruction in the state language shall be amended to read as follows:

"Банктык эсептер, банктык аманаттар (депозиттер) боюнча эсептер менен иш алып баруу боюнча Нускоо";

• point 6 shall be amended to read as follows:

"6. The bank is recommended to pay special attention to issues of interaction and assistance to clients with limited health capabilities when opening an account for them, including those concerning:

• rules of etiquette when communicating with the client;

• rules of accompanying the client when the bank employee and the client perform necessary operations within the framework of servicing;

• application of available measures for the most comfortable servicing;

• communication with the client himself, and not with his accompanying person, if the client has not chosen another method of communication;

• minimizing stress factors in the process and a full (detailed) explanation of bank customer service procedures.»;

  • the first paragraph of item 15 shall be amended to read as follows:

«15. A settlement (current) account is an account intended for keeping funds and making current settlements, including settlements using bank payment cards, made by legal entities, except banks, and individual entrepreneurs (receipts, payments, mutual settlements with other individuals or legal entities, transfers to other financial and credit organizations) under a bank account agreement.»;

• after the first paragraph of item 24, add a second paragraph with the following content: «When servicing a client with visual or hearing impairment, the bank must, at the client's request, provide audio reproduction/sign language interpretation of the text of the bank account agreement and other documents signed by the client.»;

• item 28 shall be amended to read as follows: «28. If the original document submitted to the bank in accordance with the requirements of this Instruction is executed in a foreign language, a translation of the documents into the state language and, if necessary, into the official language of the Kyrgyz Republic, certified by a translation institution, must be submitted to the bank.»;

• the first sentence of the twelfth paragraph of item 37 shall be amended to read as follows: «The agreement must be drawn up in the state language and, if necessary, in the official language and concluded in written form in at least two copies, one for each party, or in the form of an electronic document signed with an electronic signature that allows reliably establishing that the document comes from a party to the agreement.»;

• subparagraph 2 of item 41 shall be recognized as having lost force;

• in item 43: the fourth paragraph of subparagraph 1 shall be amended to read as follows: «- information on state registration: date, number, name of the registering authority, place of registration, except for state bodies and local self-government bodies;»;

• subparagraph 3 shall be amended to read as follows: «3) certificate of state registration (re-registration) of a legal entity with the Ministry of Justice of the Kyrgyz Republic, except for state bodies and local self-government bodies. For legal entities registered in the Free Economic Zone (hereinafter - FEZ), it is necessary to additionally submit a certificate certifying the registration of the legal entity as a FEZ subject. For non-residents: an extract from the trade register of the country of origin on the registration of the firm as a legal entity or another document confirming the registration of the client as a legal entity in accordance with the requirements of the legislation of the country of origin;»;

subparagraph 3 in the state language shall be amended to read as follows: «3) юридикалык жактын Кыргыз Республикасынын Адилет министрлигинде мамлекеттик каттоодон (кайра каттоодон) өткөндүгү жөнүндө күбөлүк. For legal entities registered in a free economic zone (hereinafter - FEZ), it is necessary to additionally issue a certificate confirming the registration of the legal entity as a FEZ subject. For non-residents: a copy from the trade register of the country in which the legal entity was established confirming the registration of the firm as a legal entity, or another document confirming the client's registration as a legal entity in accordance with the legal requirements of the relevant country;».

9. 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 credit risk management in microfinance organizations that do not attract deposits (deposits)» dated 25 September 2013 No. 35/14:

in the Regulation «On minimum requirements for credit risk management in microfinance organizations that do not attract deposits (deposits)», approved by the above-mentioned resolution:

• the third paragraph of subparagraph 2 of item 22 shall be amended to read as follows: «- on the terms of granting loans, including information on the full cost of the loan product, in the state language and, if necessary, in the official language;»;

• in item 29: the first paragraph shall be amended to read as follows: «29. The loan agreement concluded between the MFI and the client, including in the form of an electronic document signed by means of an electronic signature that allows verifying its belonging to a party to the agreement, with all annexes thereto and other contracts/agreements shall be drawn up in the state language and, if necessary, in the official language.»;

• add the fifth, sixth and seventh paragraphs with the following content: «The text of the loan agreement must be accessible for perception and understanding by the borrower. The rights and obligations of the participant arising from the terms of the loan agreement must be reflected in a separate section of the loan agreement. Throughout the entire text of the loan agreement and in all annexes thereto, the font must be the same and its size must be at least 12 (at least 16 – for a client with visual impairment upon request). When servicing a client with visual or hearing impairment, the MFI must, at the client's request, provide audio reproduction/sign language interpretation of the text of the loan agreement and other documents signed by the client. A client who is unable, due to existing impairments, to put a signature independently may use a facsimile signature in the loan agreement and other documents, taking into account the requirements of the legislation of the Kyrgyz Republic.»;

in Annex 1 to the Regulation:

• item 6 shall be amended to read as follows: «6. The loan agreement in the state language and, if necessary, in the official language, annexes thereto, as well as additionally concluded agreements with the client during restructuring or prolongation, assignment of claims.»;

• item 14 shall be amended to read as follows: «14. The pledge agreement/surety agreement in the state language and, if necessary, in the official language.».

10. To introduce the following change 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 normative 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):

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

paragraph nine of Appendix 5 to the Regulation shall be set out in the following wording: "Documents or their copies submitted in a foreign language must be translated into the state language and, if necessary, into the official language and certified in the established procedure.".

11. To introduce the following changes into the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Rules for regulating the activities of housing savings credit companies" of 1 November 2019 No. 2019-P-33/55-2-(NFKU):

In the Rules for regulating the activities of housing savings credit companies, approved by the above-mentioned resolution:

• paragraph 35 shall be set out in the following wording: "35. The credit agreement concluded between the HSCK and the participant, with all appendices thereto, and other contracts/agreements shall be drawn up in the state language and, if necessary, in the official language. The number of original copies of loan agreements must be no less than the number of parties that concluded the agreement. The HSCK must ensure the preservation of all original documents for the credit agreement in accordance with the legislation of the Kyrgyz Republic.";

• paragraph 36 shall be set out in the following wording: "36. The text of the credit agreement must be accessible for perception and understanding by the participant. The rights and obligations of the client arising from the terms of the credit agreement must be reflected in a separate section of the credit agreement. Throughout the entire text of the credit agreement and in all appendices thereto, the font must be the same, and its size must be no less than 12 (no less than 16 – for a client with visual impairment upon request). When servicing a client with visual or hearing impairment, the HSCK must, at the client's request, provide audio reproduction/sign language interpretation of the text of the credit agreement and other documents signed by the client. A client who is unable, due to existing impairments, to place a signature independently may use a facsimile signature in the credit agreement and other documents, taking into account the requirements of the legislation of the Kyrgyz Republic.";

• paragraph 44 shall be set out in the following wording: "44. The housing savings deposit (deposit) agreement concluded between the HSCK and the participant, with all appendices thereto, as well as other contracts/agreements shall be drawn up in the state language and, if necessary, in the official language. The number of original copies of housing savings deposit (deposit) agreements must be no less than the number of parties that concluded the agreement. The HSCK must ensure the preservation of all original documents for the housing savings deposit (deposit) agreement in accordance with the legislation of the Kyrgyz Republic.";

• paragraph 45 shall be set out in the following wording: "45. The text of the housing savings deposit (deposit) agreement must be accessible for perception and understanding by the participant. The rights and obligations of the participant arising from the terms of the credit agreement must be reflected in a separate section of the housing savings deposit (deposit) agreement. Throughout the entire text of the housing savings deposit (deposit) agreement and in all appendices thereto, the font must be the same, and its size must be no less than 12 (no less than 16 – for a client with visual impairment upon request). When servicing a client with visual or hearing impairment, the HSCK must, at the client's request, provide audio reproduction/sign language interpretation of the text of the housing savings deposit (deposit) agreement signed by the client. A client who is unable, due to existing impairments, to place a signature independently may use a facsimile signature in the housing savings deposit (deposit) agreement, taking into account the requirements of the legislation of the Kyrgyz Republic.";

in Appendix 2 to the Regulation:

• paragraph 5 shall be set out in the following wording: "5. Credit agreement in the state language and, if necessary, in the official language.";

• paragraph 11 shall be set out in the following wording: "11. Pledge agreement in the state language and, if necessary, in the official language.".

12. To introduce the following changes into the resolution of the Board of the National Bank of the Kyrgyz Republic "On the procedure for identification and verification of clients in remote mode" of 13 May 2020 No. 2020-P-12/27-1-(NPA):

in the Procedure for identification and verification of clients in remote mode, approved by the above-mentioned resolution:

• to supplement with paragraph 5-2 of the following content: "5-2. In order to ensure accessibility and equal opportunities for all clients, including persons with disabilities (hereinafter - persons with disabilities), the website, mobile application or specialized software of the bank must have functionality allowing remote identification and verification for the specified category of clients. The functionality must comply with applicable legislative acts and norms, guarantee a high level of security, and also ensure simplicity and clarity of the identification process for users – persons with disabilities. The bank is obliged to provide appropriate instructions and guidelines for users, as well as to carry out regular monitoring and updating of the remote identification system, taking into account feedback from clients – persons with disabilities, with the aim of continuously improving the accessibility and convenience of the services provided.".

13. To introduce the following change to the resolution of the Board of the National Bank of the Kyrgyz Republic "On the Procedure for Identification and Verification of Clients of Microfinance Organizations in Remote Mode" of 30 September 2020 No. 2020-P-33/54-3-(NFKU):

in the Procedure for Identification and Verification of Clients of Microfinance Organizations in Remote Mode, approved by the above-mentioned resolution:

• to supplement with paragraph 5-1 with the following content: "5-1. In order to ensure accessibility and equal opportunities for all clients, including persons with disabilities (hereinafter – persons with disabilities), the website, mobile application or specialized software of the MFO must have functionality that allows remote identification and verification for the specified category of clients. The functionality must comply with applicable legislative acts and norms, guarantee a high level of security, and also ensure simplicity and clarity of the identification process for users - persons with disabilities. The MFO is obliged to provide appropriate instructions and guidelines for users, as well as to carry out regular monitoring and updating of the remote identification system, taking into account feedback from clients - persons with disabilities, with the aim of continuously improving the accessibility and convenience of the services provided.".

14. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic of 23 December 2020 No. 2020-P-33/73-12-(NFKU) "On approval of the Regulation 'On measures of influence applied to non-bank financial and credit organizations and other legal entities supervised by the National Bank of the Kyrgyz Republic':

in the Regulation "On measures of influence applied to non-bank financial and credit organizations and other legal entities supervised by the National Bank of the Kyrgyz Republic", approved by the above-mentioned resolution:

• in subparagraph 4 of paragraph 6, after the word "requirements" to supplement with the words "and restrictions";

• to state paragraph 50 in the following wording: "50. The National Bank, for violations of economic norms and requirements established by regulatory legal acts of the National Bank, as well as in cases where there is a trend towards deterioration of the financial condition in the activities of the NFCO, while the NFCO may comply with the minimum economic norms and requirements of the National Bank, may establish for the NFCO new and/or more stringent economic norms, requirements and restrictions.";

• in subparagraph 2 of paragraph 56, after the word "norms," to supplement with the words "requirements and restrictions,";

in Appendix 2 to the Regulation:

• in the second paragraph of paragraph 2 of part 2, after the word "requirements" to supplement with the words "and restrictions".

15. To introduce the following changes to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On the procedure for syndicated lending in the Kyrgyz Republic'" of 18 May 2022 No. 2022-P-12/31-1-(BS):

in the Regulation "On the procedure for syndicated lending in the Kyrgyz Republic", approved by the above-mentioned resolution:

• to state the twenty-sixth paragraph of paragraph 11 in the following wording: "The syndicated loan agreement concluded by the participants, as well as other agreements concluded, for example, by a bank and an international organization, must be drawn up in the state language and, if necessary, in the official language (if necessary, the text of the agreement may be translated into another language).";

• to state paragraph 19 in the following wording: "19. The loan agreement and the pledge agreement may be drawn up in the state language and, if necessary, in the official language. At the same time, the text of these agreements must be clear and accessible for perception and understanding by the borrower. The credit file is maintained and stored by the organizing bank. Copies of the credit file may be stored by each participant.";

• to state the fifteenth paragraph of paragraph 20 in the following wording: "The loan agreement concluded between the bank (banks) and the borrower, as well as other agreements concluded, for example, between the bank (banks) and an international organization, must be concluded in the state language and, if necessary, in the official language (if necessary, the text of the agreement may be translated into another language).".

16. To introduce the following change to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Instruction on maintaining a database on the obligations of a bank, housing savings credit company, microfinance company attracting deposits from depositors" of 2 June 2022 No. 2022-P-12/35-1-(NPA):

in the Instruction on maintaining a database on the obligations of a bank, housing savings credit company, microfinance company attracting deposits from depositors, approved by the above-mentioned resolution:

• in column 26 "Amount of compensation subject to payment to the depositor, but not more than the amount established by the Law of the Kyrgyz Republic 'On protection of bank deposits' based on the results of offsetting overdue counterclaims of the depositor and the bank" of Appendix 1 to the Instruction, replace the figures "200000" with the figures "1000000".

17. To introduce the following change to the resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On economic norms and requirements mandatory for commercial banks of the Kyrgyz Republic'" of 14 December 2022 No. 2022-P-12/78-7-(NPA):

in the Regulation "On economic norms and requirements mandatory for commercial banks of the Kyrgyz Republic", approved by the above-mentioned resolution:

• item 7 shall be restated as follows: "7. The procedure for calculating the maximum amount of risk per one borrower or a group of related borrowers not related to the bank shall be determined in accordance with the Instruction "On Credit Restrictions".".