Resolution of the Board of the National Bank of the Kyrgyz Republic No. 35/1 of 17 September 2008 on Amending and Supplementing Resolution No. 42/1 of 30 November 2000 on Approval of the Regulation on the Procedure for Conducting Exchange Operations with Cash Foreign Currency in the Kyrgyz Republic

Registered in the Ministry of Justice of the Kyrgyz Republic

14 October 2008. Registration number 127-08

Bishkek

of 17 September 2008 No. 35/1

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 Approval of the Regulation on the Procedure

for Conducting Exchange Operations with Cash Foreign

Currency in the Kyrgyz Republic" No. 42/1 of 30 November 2000

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

Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation

on the Procedure for Conducting Exchange Operations with Cash Foreign Currency

in the Kyrgyz Republic" No. 42/1 of 30 November 2000, registered

in the Ministry of Justice of the Kyrgyz Republic on 15 December 2000,

registration number 201, 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 Combating 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 Approval of the Regulation on the Procedure

for Conducting Exchange Operations with Cash Foreign Currency in the Kyrgyz

Republic" No. 42/1 of 30 November 2000, registered in the Ministry of

Justice of the Kyrgyz Republic on 15 December 2000, registration number

201 (attached).

2. The Supervision Methodology and Licensing Department together with

the Legal Department shall, in the established procedure, send this reso-

lution for state registration to the Ministry of Justice of the Kyrgyz

Republic.

3. This resolution enters into force after state

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

official publication.

Published in the journal "Normative Acts of the National Bank of the Kyr-

gyz Republic", No. 2008/12

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 Bokont-

aev 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 17 September 2008 No. 35/1

@1 AMENDMENTS AND SUPPLEMENTS

to the resolution of the Board of the National Bank

of the Kyrgyz Republic No. 42/1 of 30 November 2000

"On Approval of the Regulation on the Procedure for

Conducting Exchange Operations with Cash Foreign

Currency in the Kyrgyz Republic", registered

in the Ministry of Justice of the Kyrgyz Republic

on 15 December 2000, registration number 201

To introduce into the Regulation on the Procedure for Conducting Exchange Operations with Cash Foreign Currency in the Kyrgyz Republic, approved by the resolu-

tion of the Board of the National Bank of the Kyrgyz Republic "On Approval

of the Regulation on the Procedure for Conducting Exchange Operations with Cash Foreign

Currency in the Kyrgyz Republic" No. 42/1 of 30 November 2000,

registered in the Ministry of Justice of the Kyrgyz Republic on 15 December

2000, registration number 201, the following amendments and supplements:

1. Paragraph 1.3 shall be supplemented with the following definition:

"Suspicious transaction and operation - a transaction and operation carried out

with monetary funds or other property which do not have a clear eco-

nomic or obvious lawful purpose and are not characteristic of the activity

of the given legal or natural person (persons), falling under the cri-

teria of suspicious transactions and operations according to the list of criteria of suspicious

operations approved by the authorized state body

in the sphere of combating the financing of terrorism and legalization

(laundering) of proceeds from crime, in accordance with the Law

of the Kyrgyz Republic "On Combating the Financing of Terrorism

and the Legalization (Laundering) of Proceeds from Crime".

2. Subparagraph 27 of paragraph 2.5 shall be set out in the following wording:

"27) record information on exchange operations with cash

foreign currency, including information on the client, in cases where

these operations fall under the criteria of suspicious transactions and opera-

tions, and also, if the amount of the completed operation is equal to or exceeds

1000000 som, in the Journal of registration of information on operations with clients

(hereinafter - the Journal). The Journal must be numbered, bound, and

sealed with the seal of the legal entity or private entrepreneur (appendix

1a). Information specified in this subparagraph shall be kept for not

less than five years;".

3. Subparagraph 28 of paragraph 2.5 shall be set out in the following wording:

"28) submit the information specified in subparagraph 27 of this

paragraph to the authorized state body in the sphere of combating

the financing of terrorism and legalization (laundering) of proceeds from

crime, no later than the working day following the day of the completion

of the operation. Exchange bureaus shall submit this information in the form of

an electronic document on a magnetic medium;".

4. Subparagraph 29 of paragraph 2.5 shall be excluded.

5. Subparagraphs 30, 31 of paragraph 2.5 shall respectively be considered subparagraphs

29, 30.

6. In paragraph 2.7, after the words "in subparagraphs 1-14, 27" add the fig-

ures ", 28, 29, 30".