Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2023-P-14/31-1-(PS) of May 11, 2023 on Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic on Issues of Conducting Settlements and Payments in Foreign Currency

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

of May 11, 2023 No. 2023-P-14/31-1-(PS)

On Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic on Issues of Conducting Settlements and Payments in Foreign Currency

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. Make the following change to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On Non-Cash Settlements in the Kyrgyz Republic" dated December 8, 2021 No. 2021-P-14/68-7-(PS)":

in the Regulation "On Non-Cash Settlements in the Kyrgyz Republic", approved by the aforementioned Resolution:

• rephrase paragraph 88 as follows:

"88. All settlements using bank payment cards within the territory of the Kyrgyz Republic must be carried out in the national currency.

Settlements using bank payment cards for payments for online casino and electronic (virtual) casino services, as well as other types of gambling services, which may be carried out by gambling operators on the Internet, based on a license issued in accordance with the legislation of the Kyrgyz Republic, may be carried out in national and/or foreign currencies.

Prices for services must be indicated in soms and without reference to the foreign exchange rate, except for contracts for the supply of exported services, where the payment currency is determined by agreement of the parties.".

2. Make the following change to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation "On the Regulation of the Activities of Payment Organizations and Payment System Operators" dated September 30, 2019 No. 2019-P-14/50-2-(PS)":

in the Regulation "On the Regulation of the Activities of Payment Organizations and Payment System Operators", approved by the aforementioned Resolution:

• rephrase paragraph 36 as follows:

"36. Payments within the territory of the Kyrgyz Republic must be carried out in the national currency.

Payments for online casino and electronic (virtual) casino services, as well as other types of gambling services, which may be carried out by gambling operators on the Internet, based on a license issued in accordance with the legislation of the Kyrgyz Republic, may be carried out in national and/or foreign currencies.

Prices for services must be indicated in soms and without reference to the foreign exchange rate, except for contracts for the supply of exported services, where the payment currency is determined by agreement of the parties.".

3. To the Legal Department:

• from the day of receipt of the corresponding 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. This Resolution shall enter into force after the expiration of 15 (fifteen) days from the date of official publication.

5. To the Payment Systems Department: from the day of receipt of the corresponding documents, within 3 (three) working days, bring this Resolution to the attention of the Ministry of Digital Development of the Kyrgyz Republic, the Financial Intelligence Service under the Ministry of Finance of the Kyrgyz Republic, commercial banks, payment system operators and payment organizations of the Kyrgyz Republic.

6. Control over the implementation of this Resolution shall be entrusted to the Member of the Board of the National Bank of the Kyrgyz Republic, overseeing the Payment Systems Department.

	Chairman	K. Bokonbaev