Resolution of the Board of the National Bank of the Kyrgyz Republic No. 2024-P-12/8-4-(NPA) of 28 February 2024 on Amending 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"

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

of 28 February 2024 No. 2024-P-12/8-4-(NPA)

On Amending 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"

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 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) (attached).

2. This resolution enters 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 Supervision Methodology Department, within 3 (three) working days, to bring this resolution to the attention of commercial banks and the Legal Entity Association "Union of Banks of Kyrgyzstan".

5. To the "Secretariat of the Board" Division, within 3 (three) working days, to bring this resolution to the attention of the Banking Supervision Department, the Payment Systems Department, the Legal Department, regional departments and the Representative Office of the National Bank of the Kyrgyz Republic in Batken Oblast.

6. To assign control over the execution of this resolution to the member of the Board supervising the Supervision Methodology Department.

Acting Chairman		M. Zhakypov

		Annex to the Resolution of the Board of the National Bank of the Kyrgyz Republic of 28 February 2024 No. 2024-P-12/8-4-(NPA)

AMENDMENTS to 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"

1. To make the following amendments to 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 restate paragraph 5-1 as follows:

"5-1. When using software for remote identification and verification of clients, the bank must send a corresponding notification with a full description of the software and the methods of remote identification and verification of clients, in accordance with the requirements of the Procedure, as well as the internal document on AML/CFT risk analysis approved by the board of directors in accordance with the legislation of the Kyrgyz Republic, to the National Bank.";

• to supplement with Chapter 4-1 as follows:

"Chapter 4-1. Remote identification and verification of clients - individual entrepreneurs

34-1. Remote identification and verification of clients - citizens of the Kyrgyz Republic engaged in entrepreneurial activity as an individual entrepreneur, through state information systems is equated to identification and verification by video communication.

34-2. The maximum balance for clients - citizens of the Kyrgyz Republic engaged in entrepreneurial activity as an individual entrepreneur - identified and verified in remote mode must comply with the requirements of Table 6-1 of Annex 1 to this Procedure.";

• to supplement Annex 1 to the Procedure for Identification and Verification of Clients in Remote Mode with Table 6-1 as follows:

"Table 6-1. Restrictions for clients - individual entrepreneurs on the maximum balance

	for an electronic wallet	for a limited-function bank account
Maximum balance	10000 settlement indicators	80000 settlement indicators

".