Resolution of the Board of the National Bank of the Kyrgyz Republic No. 25/9 of 27 June 2008 on Amending and Supplementing Resolution of the Board of the National Bank of the Kyrgyz Republic "On the Temporary Instruction on Working with Deposits" No. 4/4 of 19 February 2003

REPEALED

in accordance with resolution of the Board of the National Bank of the Kyrgyz Republic

of 31 October 2012 No. 41/12

Registered with the Ministry of Justice of the Kyrgyz Republic

17 July 2008. Registration number 80-08

Bishkek

of 27 June 2008 No. 25/9

RESOLUTION OF THE BOARD OF THE NATIONAL BANK

OF THE KYRGYZ REPUBLIC

On Amending and Supplementing the Resolution

of the Board of the National Bank of the Kyrgyz Republic

"On the Temporary Instruction on Working with Deposits"

No. 4/4 of 19 February 2003

(published in the journal "Normative Acts of the National Bank

of the Kyrgyz Republic", No. 2008/9)

Having considered the draft amendments and supplements to the resolution of the Board

of the National Bank of the Kyrgyz Republic "On the Temporary Instruction on

working with deposits" No. 4/4 of 19 February 2003, registered

with the Ministry of Justice of the Kyrgyz Republic on 25 March 2003, re-

gistration number 25-03, guided by the Laws of the Kyrgyz Republic

"On the National Bank of the Kyrgyz Republic", "On Banks and Banking

Activity in the Kyrgyz Republic", "On Countering the Financing of Terrorism

and the Legalization (Laundering) of Proceeds from Crime", the Board of the National Bank of the Kyrgyz Republic resolves:

1. To approve the amendments and supplements to the resolution of the Board of the National

Bank of the Kyrgyz Republic "On the Temporary Instruction on working

with deposits" No. 4/4 of 19 February 2003, registered with

the Ministry of Justice of the Kyrgyz Republic on 25 March 2003, registration

number 25-03 (attached).

2. The Legal Department, together with the Supervision Methodology

and Licensing Department, shall in the established procedure send this resolution

for state registration to the Ministry of Justice of the Kyrgyz

Republic.

3. This resolution enters into force after state

registration with the Ministry of Justice of the Kyrgyz Republic and subsequent

official publication.

4. After publication of the registered normative legal

act, the Legal Department shall inform the Ministry of Justice of the Kyrgyz

Republic of the source of publication (name of the publication, its number

and date).

5. Control over the execution of this resolution shall be entrusted to the

Deputy Chairman of the National Bank of the Kyrgyz Republic Bokontaev K.K.

Chairman of the Board of the National

Bank of the Kyrgyz Republic M. Alapaev

Approved by resolution of the Board of the National Bank of the Kyrgyz Republic of 27 June 2008 No. 25/9

AMENDMENTS AND SUPPLEMENTS

to the resolution of the Board of the National Bank

of the Kyrgyz Republic No. 4/4 of 19 February 2003

"On the Temporary Instruction on Working with Deposits",

registered with the Ministry of Justice of the Kyrgyz

Republic on 25 March 2003, registration number 25-03

To introduce into the Temporary Instruction on working with deposits, approved

by resolution of the Board of the National Bank of the Kyrgyz Republic

No. 4/4 of 19 February 2003, registered with the Ministry of Justice

of the Kyrgyz Republic on 25 March 2003, registration number

25-03, the following amendments and supplements:

1. In the preamble, exclude the words "and RSC".

2. Paragraph three of section 1 shall be set out in the following wording:

"In order to prevent operations related to the financing of terror-

ism and the legalization (laundering) of proceeds from crime, the bank must

develop internal control policies and procedures corresponding to the complexity and scale of the bank's activities and subject to mandatory and full compliance."

3. Point 5 of Appendix 3 shall be supplemented with subpoint 3 of the following content:

"3) establishment in the correspondent relationship agreement of the duties and powers of the parties regarding measures for countering the financing of terrorism and the legalization (laundering) of proceeds from crime;".

4. Subpoints 3-11 of point 5 of Appendix 3 shall be considered subpoints 4-12

respectively.

5. The last paragraph of point 5 of Appendix 3 shall be supplemented with a sentence

of the following content:

"In the event the bank discovers non-fulfillment by a correspondent bank

of measures to counter the financing of terrorism and the legalization (laundering)

of proceeds from crime, the bank should take

appropriate measures up to termination of correspondent relations.".

6. Point 6 of Appendix 3 shall be set out in the following wording:

"The decision to establish correspondent relations, including the opening

of a correspondent account, must be made by the head of the bank

or a collegial body headed by a member of the Board of the bank whose

competence includes making decisions on this matter. This

procedure for making decisions on establishing correspondent relations

must be reflected in the bank's internal documents.".