Resolution of the Board

of the National Bank

of the Kyrgyz Republic

dated 16 October 2024
No. 2024-П-12/53-2-(НФКУ)

On Amendments to 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 make amendments to the following resolutions of the Board of the National Bank of the Kyrgyz Republic (attached):

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

• "On Approval of the Regulation 'On the Periodic Regulatory Report of a Microcredit Company/Microcredit Agency' and the Regulation 'On the Periodic Regulatory Report of a Microfinance Company' dated 27 May 2009 No. 25/3;

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

• "On Approval of the Regulation on Minimum Requirements for Credit Risk Management in Microfinance Organizations Not Attracting Deposits" dated 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 Combating 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 Amendments and Additions to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic on Issues of Combating the Financing of Terrorist Activities and the Legalization (Laundering) of Criminal Proceeds' dated 14 August 2019 No. 2019-П-12/42-1-(НПА).

2. The Legal Department:

• within 3 (three) working days from the date of receipt of the relevant documents, 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 Regulatory Legal Acts of the Kyrgyz Republic.

3. This resolution shall enter into force after 15 (fifteen) days from the date of official publication.

4. The Supervision Methodology Department shall, within 3 (three) working days after official publication, bring this resolution to the attention of commercial banks, microfinance organizations, credit unions, exchange bureaus, OJSC "Financial Company of Credit Unions", the Association of Legal Entities "Union of Banks of Kyrgyzstan", the Association of Legal Entities "Association of Microfinance Organizations", the Association of Legal Entities "National Association of Credit Unions and Cooperatives of Kyrgyzstan" and the Association of Legal Entities "Association of Exchange Bureaus 'Alliance'.

6. The "Board Secretariat" Department shall, within 3 (three) working days, bring this resolution to the attention of structural subdivisions, regional departments and the Representative Office of the National Bank of the Kyrgyz Republic in Batken Region.

7. 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 Supervision Methodology Department.

Chairman M. Turgunbaev

Annex
to the resolution of the Board of the National Bank of the Kyrgyz Republic dated 16 October 2024 No. 2024-П-12/53-2-(НФКУ)

Amendments to Certain Regulatory Legal Acts

of the National Bank of the Kyrgyz Republic

1. To make the following amendments to the resolution of the Board of the National Bank of the Kyrgyz Republic "On the 'Rules for the Regulation of Microfinance Organizations' Activities in the Territory of the Kyrgyz Republic' dated 19 February 2003 No. 4/2:

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

• 1. to supplement clause 2.4.-4. with the following content:

"2.4.-4. Maximum size of investments in property (fixed assets) for MFCs not accepting deposits.

The maximum size of investments in property (fixed assets) shall not exceed 80 percent of the size of the MFC's own capital.

Property shall be understood as property (including real estate under construction/being installed, vehicles, etc.) that belongs to the MFC or is at the disposal of the MFC under a lease agreement and/or is used/will be used as a fixed asset.";

• 2. to supplement clause 4.2. with a paragraph of the following content:

"- the maximum size of investments in property (fixed assets).";

• 3. to supplement clause 5.12. with the following content:

"5.12. Maximum size of investments in property (fixed assets) for MFCs accepting deposits.

The maximum size of investments in property (fixed assets) shall not exceed 20 percent of the size of the MFC's own capital.

Property shall be understood as property (including real estate under construction/being installed, vehicles, etc.) that belongs to the MFC or is at the disposal of the MFC under a lease agreement and/or is used/will be used as a fixed asset.".

2. To make the following amendments to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Periodic Regulatory Report of a Microcredit Company/Microcredit Agency' and the Regulation 'On the Periodic Regulatory Report of a Microfinance Company' dated 27 May 2009 No. 25/3:

in the Regulation "On the Periodic Regulatory Report of a Microfinance Company", approved by the above-mentioned resolution:

• 1. Section 10 of Annex 2 (quarterly) shall be stated in the following wording:

"SECTION 10. INFORMATION ON COMPLIANCE WITH ECONOMIC STANDARDS

Name of economic standards and requirements

Designation

Calculation of the standard

Actual value of the standard

Established value of the standard

Deviation from the established standard

ECONOMIC STANDARDS FOR MFCs NOT ATTRACTING DEPOSITS

Minimum size of authorized capital

UC

*100%

not less than 100%

100000

Maximum aggregate amount of investments

SI

*100%

not more than 30%

SC

Maximum amount of financing provided to one and the same person by MFCs engaged in wholesale financing

MC

*100%

not more than 20%

SC

Standard for the minimum size of own capital

SC

*100%

not less than 100%

UC

100000

Maximum amount of investments in property (fixed assets)

SII/SC*100%

not more than 80%

ECONOMIC STANDARDS FOR MFCs ATTRACTING DEPOSITS

Standard for the minimum size of own capital

M1

SC / UC * 100%

not less than 100%

Capital adequacy standard

M2

SC / SA * 100%

not less than 8%

Standard for the maximum size of risk per borrower

M3

SR / SC * 100%

not more than 5%

Liquidity standard

M4

LA / OB * 100%

not less than 30%

Standard for limiting the risk of return of attracted deposits

M5

K / V *100%

not less than 100%

Maximum size of risk on operations

SR Aff. persons/SC*100%

not more than 60%

with affiliated persons

Total indebtedness of one employee of an MFC

SRS / SC * 100%

not more than5%

Maximum aggregate amount of investments in MFIs (1), leasing companies and banks

SI / SC * 100%

not more than 30%

Total amount of investments in non-state debt securities

SIDB / SC * 100%

not more than 50%

Maximum amount of investments in property (fixed assets)

SII/SC*100%

not more than 20%

SRS - total indebtedness of employees to an MFC;

SI - total investments in microfinance organizations, leasing companies and banks;

SITSB – total investments in non-state debt securities;

SII – total investments in property (fixed assets);

SZA - total liabilities of affiliated persons.

SZ- total amount of funds borrowed from legal entities and founders (shareholders)

(1) MFO - microfinance organization

Average values for the reporting period

1 month

2 month

3 month

Total

LA - Liquid assets

OB - Liabilities

Norm M4=LA/OB

Position:___________ Last name:________________ Signature: _____________________________

»;

2) section 10 of Appendix 2 (monthly) shall be stated in the following wording:

« Section 10. Information on compliance with economic standards

Name of economic standards and requirements

Designation

Calculation of the standard

Actual value of the standard

Established value of the standard

Deviation from the established standard

ECONOMIC STANDARDS FOR MFCs NOT ATTRACTING DEPOSITS

Minimum size of the charter capital

UK

*100%

not less than 100%

100000

Maximum total size of investments

SI

*100%

not more than 30%

SK

Maximum size of financing provided to one and the same person, for MFCs engaged in wholesale financing

MK

*100%

not more than 20%

SK

Standard for the minimum size of own capital

SK

*100%

not less than 100%

UK

100000

Maximum size of investments in property (fixed assets)

SI/SK*100%

not more than 80%

ECONOMIC STANDARDS FOR MFCs ATTRACTING DEPOSITS

Standard for the minimum size of own capital

M1

SK / UK * 100%

not less than 100%

Capital adequacy standard

M2

SK / SA * 100%

not less than 8%

Standard for the maximum size of risk per one borrower

M3

SZ / SK * 100%

not more than 5%

Liquidity standard

M4

LA / OB * 100%

not less than 30%

Ratio limiting the risk on repayment of attracted deposits

М5

К / В *100%

not less than 100%

Maximum risk amount on operations

СЗ Аф. лиц/СК*100%

not more than 60%

with affiliated persons

Total debt of one employee of the MCC

СЗС / СК * 100%

not more than 5%

Maximum total amount of investments in MFIs (1), leasing companies and banks

СИ / СК * 100%

not more than 30%

Total amount of investments in non-government debt securities

СИЦБ / СК * 100%

not more than 50%

Maximum amount of investments in property (fixed assets)

СИ/СК*100%

not more than 20%

СЗС - total debt of employees to the MCC;

СИ - total investments in microfinance organizations, leasing companies and banks;

СИЦБ – total investments in non-government debt securities;

СИИ – total investments in property (fixed assets);

СЗА - total debt of affiliated persons.

СЗ - total amount of funds borrowed from legal entities and founders (shareholders)

(1) МФО - microfinance organization

Average values for the reporting period

1 week

2 week

3 week

4 week

5 week

Total

ЛА - Liquid assets

ОБ - Liabilities

Ratio М4=ЛА/ОБ

Position:___________ Surname:________________ Signature: ________________________

Position:___________ Surname:________________ Signature: _________________________

».

3. 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 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:

• 1. paragraph ten of clause 5.1.3. shall be set out in the following wording:

"After a full review of all documents (on paper or in the form of an electronic document), a decision is made on granting the loan.";

• 2. paragraph three of clause 5.2.5-1. shall be set out in the following wording:

"- when determining the monetary and/or material obligations of the borrower to the creditor, the amount of the penalty (fines, interest) accrued for the entire period of the loan shall not exceed the value established by the Law of the Kyrgyz Republic "On limiting usurious activity in the Kyrgyz Republic".";

• 3. paragraph fourteen of clause 5.2.6. shall be supplemented with a sentence as follows:

"At the same time, in the case where more than one collateral property was provided as security for the loan and a third party (not the borrower) acts as the pledgor, the CU must grant the pledgor (third party) a preferential (in relation to the borrower) right to replace or release the collateral;";

• 4. in paragraph two of clause 5.3.7., the words "notarial certification and" shall be excluded;
• 5. clause 7.3.2. shall be set out in the following wording:

"7.3.2. Along with the measures provided for in clause 7.3.1. of this Regulation, it is necessary to conduct ongoing work with the borrower himself, which may consist of the following:

• conducting negotiations;

• summoning the borrower to the CU;

• sending a written/electronic notification to the borrower about non-compliance with the terms of the loan agreement, indicating the reason for the violation (number of days overdue, etc.), as well as possible problems related to the violation of the terms of the agreement.

Information on the work carried out with the borrower, including meetings with him and written/electronic notifications sent to him, must be recorded in the borrower's credit file.

When carrying out work with "problem" loans, holding meetings and conversations, CU employees must strictly adhere to accepted business and professional etiquette of behavior.";

• 6. in Section I General information about the borrower of Appendix 1 to the above-mentioned Regulation:

  • a) in paragraph 6, replace the figure "50000" with the figure "100 000";

  • b) restate paragraph 14 as follows:

"14. The report on verification of the targeted use of the loan must be confirmed by documents (contracts, acceptance-transfer acts, invoices, waybills, etc.) depending on the purposes of lending and if available.

For a loan in the amount of not more than 50 000 soms, as well as a consumer loan provided by transferring funds from the CU's settlement account to the settlement account of a seller/store registered as a taxpayer, a report on verification of the targeted use of the loan may not be drawn up.";

• c) supplement with paragraph 16 of the following content:

"16. Other information and data in accordance with the requirements of this Regulation and at the discretion of the credit union.";

• 7. in Appendix 2 to the above-mentioned Regulation, replace the figure "20" with the figure "10".
• 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 microfinance organizations that do not attract 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, approved by the above-mentioned resolution:

• 1. restate paragraph 12 as follows:

"12. The credit policy determines the strategy, criteria, parameters that MFO employees must be guided by in activities on granting, processing, monitoring, classifying loans and managing credit risk.

The MFO must ensure possible periodic training of MFO employees on lending and monitoring, issues of analysis and assessment of the borrower's solvency taking into account the methodology implemented in the MFO for assessing borrowers' solvency, work with problem loans, as well as on other lending issues, including communication with clients, and on other requirements of the legislation of the Kyrgyz Republic and principles of responsible lending.

The MFO must have an approved internal document defining the methodology for conducting analysis and assessment of the solvency of the borrower and guarantor depending on the size and type of loan, activity and income of the client. The document must contain exhaustive norms allowing assessment of the financial condition of the borrower and/or guarantor, their ability to fulfill obligations taking into account all information available to the MFO. In this internal document, for loans over 100 000 soms, a list of documents confirming information on the income/solvency of the borrower and/or guarantor must be specified, while documents confirming information on the income/solvency of the borrower and/or guarantor must be reliable and sufficient for the MFO to make a decision on lending to the borrower. For loans up to 100 000 soms, the internal documents of the MFO must contain information on the basis of which the solvency of the borrower and/or guarantor is determined and a decision on granting a loan is made.

In addition, this internal document must define requirements for the form and completion of the report on verification of the targeted use of the loan. The report must be drawn up within 1 (one) month from the date of loan issuance and contain confirming information on the use of funds. At the same time, the list of confirming documents is determined in this internal document, and the documents themselves confirming information on the targeted use of the borrower's loan must be reliable and sufficient.

Preparation of a report on verification of the targeted use of the loan is not required for a loan in the amount of not more than 100 000 soms, as well as a consumer loan and financing for consumer purposes under Islamic principles of banking and financing provided by transferring funds from the MFO's settlement account to the settlement account of a seller/store registered as a taxpayer.

The MFO, taking into account the risks on the loan, may not conduct an analysis of the solvency of the guarantor or surety if the surety is additional security for the loan.";

• 2. supplement the first paragraph of paragraph 19 with the words "(on paper or in the form of an electronic document)";
• 3. supplement subparagraph 4 of paragraph 24 with a sentence of the following content:

"At the same time, in the case where more than one collateral property was provided as security for the loan and a third party (not the borrower) acts as the pledgor, the MFO must provide the pledgor (third party) with a preferential (in relation to the borrower) right to replace or release the pledge.";

• 4. supplement the first paragraph of paragraph 29 with a second sentence of the following content:

"Each page of the loan agreement with all appendices must be signed by the client on paper or in the form of a single electronic document.";

• 5. restate the third paragraph of paragraph 33-1 as follows:

"- when determining the monetary and/or material obligations of the borrower to the creditor, the amount of the penalty (fines, interest) accrued for the entire period of the loan must not exceed the value established by the Law of the Kyrgyz Republic "On limiting usurious activity in the Kyrgyz Republic".";

• 6. restate paragraph 56 as follows:

"56. Along with the measures provided for in paragraph 55 of this Regulation, MFOs may work with the borrower himself, which may consist of the following:

• conducting negotiations;

• summoning the borrower to the MFO;

• sending a written/electronic notification to the borrower about non-compliance with the terms of the loan agreement, indicating the reason for the violation (number of days overdue, etc.), as well as possible problems associated with violation of the terms of the agreement.

Information about the work carried out with the borrower, including meetings with him and written/electronic notifications sent to him, must be recorded in the borrower's credit file.";

• 7. in Appendix 1:

  • a) in paragraph 1:

    • subparagraph 2 shall be declared void;

    • subparagraph 6 shall be amended to read as follows:

"6) information from the place of actual residence (if necessary, at the discretion of the MFI);";

• subparagraph 7 shall be amended to read as follows:

"7) information/documents confirming the client's income/solvency;";

• in subparagraph 9, the figure "50000" shall be replaced by the figure "100 000";

• b) paragraph 8 shall be amended to read as follows:

"8. Correspondence with the borrower (with attachment of all correspondence), including in electronic form in accordance with the contractual terms concluded between the MFI and the borrower.";

• c) paragraph 10 shall be amended to read as follows:

"10. Report on verification of the targeted use of the loan, confirmed by documents (contracts, acceptance-transfer acts, invoices, waybills, etc.), depending on the purposes of lending, with the exception of a loan in the amount of not more than 100 000 soms, as well as a consumer loan and financing for consumer purposes under Islamic principles of banking and financing, provided by transferring funds from the MFI's settlement account to the settlement account of a seller/store registered as a taxpayer.";

• d) paragraph 12 shall be amended to read as follows:

"12. Information on the profitability/solvency of the guarantor/surety.

If the surety is the main collateral for the loan, the borrower shall provide the following information:

• consent of the surety's spouse (if any) to the issuance of the surety;

• information/documents confirming the surety's income/solvency.

If a guarantee is provided as collateral for the borrower's loan, the borrower must provide the following information:

• a written guarantee indicating the relevant loan agreement, the amount for which the guarantee is issued, the expiry date of the guarantee;

• the decision of the guarantor's relevant body to issue the guarantee;

• the guarantor's constituent documents;

• information/documents confirming the guarantor's income/solvency.

The MFI, on the basis of the information received, must conduct an analysis of the guarantor's/surety's solvency.";

• e) paragraph 21 shall be amended to read as follows:

"21. Other information and data in accordance with the requirements of this Regulation and at the discretion of the MFI.";

• 8. in Appendix 3 to the above-mentioned Regulation, the figure "20" shall be replaced by the figure "10".
• 5. 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 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 introducing changes 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" dated 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:

• 1. paragraph two of paragraph 3 shall be amended to read as follows:

"Bank – is a legal entity created in the organizational-legal form of a joint-stock company (closed or open) and authorized to carry out banking activity on the basis of the relevant license issued by the National Bank in accordance with the Law of the Kyrgyz Republic "On Banks and Banking Activity" and normative legal acts of the National Bank.";

• 2. paragraph three of subparagraph 16 of paragraph 8 shall be supplemented with a second sentence as follows:

"MFC, MCC, CS, exchange bureau/additional exchange bureau, SFU are prohibited from working on days indicated on the portal as non-working (days off).";

• 3. paragraph 11 shall be amended to read as follows:

"11. Banks, exchange bureaus, MFC, MCC, CS, SFU must conduct operations for the purchase and sale of cash foreign currency in compliance with the requirements of banking legislation, legislation in the field of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds, the Procedure for registration and use of cash register machines, approved by the resolution of the Cabinet of Ministers of the Kyrgyz Republic dated 8 April 2022 No. 193 (in case of use of CRM in accordance with the requirements of the legislation of the Kyrgyz Republic), the Instruction on working with suspicious banknotes and coins of the national currency and this Regulation.";

• 4. in paragraph 15:

  • a) in paragraph one, after the word "Banks", supplement with the words ", exchange bureaus, MFC, MCC, CS, SFU";

  • b) supplement with a paragraph as follows:

"Banks, exchange bureaus, MFC, MCC, CS, SFU are not entitled to establish and charge a commission fee when carrying out exchange operations with foreign currency banknotes that do not raise doubts as to their authenticity, including in the presence of a seal and/or stamp.";

• 5. paragraph 19 shall be supplemented with a second paragraph as follows:

"Keeping the journal in electronic form is allowed provided that the exchange bureau, exchange point, MFC, MCC, CS, SFU have a security system ensuring the safety of information, and regular backup of the journal is carried out (at least once every six months). The information specified in this paragraph shall be stored for at least 5 (five) years.";

• 6. paragraph 27 shall be supplemented with a seventh paragraph as follows:

«An employee who conducted a foreign currency purchase-sale operation shall bear the liability provided for by the legislation of the Kyrgyz Republic for conducting improper customer due diligence and failing to fill in the relevant journals in accordance with the requirements of this Regulation and the legislation of the Kyrgyz Republic.»;

• 7. supplement with paragraph 39-1 of the following content:

«39-1. All operations specified in paragraphs 27-39 of this Regulation must be conducted in the premises of a bank, exchange point, exchange bureau, MFI, MCC, CS, SFU, which complies with the technical security requirements established by the legislation of the Kyrgyz Republic.»;

• 8. paragraph 40 shall be set out in the following wording:

«40. Operations of exchange bureaus, MFI, MCC, CS, SFU for the expenditure and receipt of cash to the cash desk, related to an increase/decrease in working capital or the issuance and acceptance of accountable amounts, as well as operations related to the acquisition of foreign currency at a bank, shall be reflected in the procedure for performing operations in the cash register machine and in the operations registration journal. In this case, a dash shall be entered in the columns "Exchange rate" and "Amount to be issued", respectively, in the receipt or expenditure section. These operations shall be indicated in daily reports as other income and other expenditure.»;

• 9. in the text in the official language, in the second paragraph of paragraph 40-1, the words "with cash foreign currency" shall be replaced by the words "of cash foreign currency";
• 10. paragraph 49 shall be set out in the following wording:

«49. MFI, MCC, CS, exchange bureaus and SFU shall provide information on operations with cash foreign currency to the National Bank through the portal once a day from 07.00 to 11.00 hours of the day following the reporting business day, according to the form specified in Appendix 1 to this Regulation.

The National Bank has the right to request information on the volumes of operations and currency exchange rates more than once a day.

Banks (exchange points), MFI, MCC, CS, exchange bureaus and SFU must have access to internet communication for providing reports in electronic form to the National Bank.»;

• 11. paragraph 57 shall be set out in the following wording:

«57. In the case of providing unreliable information on conducted exchange operations with cash foreign currency, detection of violations of the procedure for conducting exchange operations with cash foreign currency, as well as other requirements of regulatory documents regulating the activities of commercial banks, MFI, MCC, CS and exchange bureaus, the National Bank has the right:

• to send a warning or an order to eliminate the detected violations and give a certain period for their elimination depending on the type of violation;

• to take measures to impose fines in accordance with legislation;

• to suspend the license of an exchange bureau/MCC/CS for the right to conduct exchange operations with cash foreign currency for a period of up to 15 (fifteen) calendar days, and in the case of failure to eliminate the detected violations, repeatedly for a period of up to 30 (thirty) calendar days;

• to revoke the license of an exchange bureau/MCC/CS for the right to conduct exchange operations with cash foreign currency;

• to apply other measures of influence in accordance with the legislation of the Kyrgyz Republic.»;

  • 12. in Appendix 1, the words "and from 13.00 to 15.00" shall be excluded;
  • 13. Appendix 3 shall be set out in the following wording:

«Appendix 3

JOURNAL

of registration of operations

""_____________ 20_

Balance at the beginning of the day

Type of currency

Amount

Receipt operations (purchase)

Expenditure operations (sale)

Name of currency

Amount of currency

Exchange rate

Amount to be issued in som

Non-resident

Name of currency

Amount of currency

Exchange rate

Amount to be issued in som

Non-resident

Total currency purchased:

Incl. purchased from non-residents

Other income

Total currency sold:

Incl. sold to non-residents

Other expenditure

Balance at the beginning of the day

Type of currency

Amount

Signature of the responsible employee
Signature of the responsible official

Notes:

• 1. In the line "Total currency purchased/sold", the total amount of purchased and sold currency shall be indicated for each type of currency separately.
• 2. In the line "Total currency purchased/sold", in columns 3 and 8 "Exchange rate", the weighted average rate for all purchased or sold currency shall be indicated. The weighted average rate shall be calculated as the ratio of the total amount to be issued (columns 4 and 9) to the total amount of purchased/sold foreign currency for each type of currency separately.
• 3. When conducting an operation with non-residents, in columns 5 and 10 the entry "N" shall be made, and the total volume of operations performed with non-residents during the operational day shall be reflected in the daily report of the exchange bureau.
• 4. Exchange bureaus do not have the right to conduct operations not related to conducting exchange operations with cash foreign currency through the cash desk of the exchange bureau.».