Resolution of the Board of the National Bank of the Kyrgyz Republic No. 44/4 of October 11, 2007, on Amendments to Resolution No. 28/3 Regarding the Chart of Accounts for Commercial Banks and Other Financial and Credit Institutions

Registered in the Ministry of Justice of the Kyrgyz Republic

November 16, 2007. Registration number 106-07

Bishkek

from October 11, 2007 No. 44/4

RESOLUTION OF THE BOARD OF THE NATIONAL BANK

OF THE KYRGYZ REPUBLIC

ON AMENDING THE RESOLUTION OF THE BOARD OF THE NBSR

No. 28/3 of May 30, 2007 "On Approving the New Edition

of the Chart of Accounts for Accounting in Commercial

Banks and Other Financial and Credit Institutions

of the Kyrgyz Republic"

Having considered the draft amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approving the New Edition of the Chart of Accounts for Accounting in Commercial Banks and Other Financial and Credit Institutions of the Kyrgyz Republic" NBSR No. 28/3 of May 30, 2007, registered by the Ministry of Justice of the Kyrgyz Republic No. 66-07 of July 10, 2007 (Appendix 2 "Chart of Accounts for Accounting in Commercial Banks and Financial and Credit Institutions of the Kyrgyz Republic for JSC 'EcoBank' within the framework of the Pilot Project for the Implementation of Islamic Financing Principles"), guided by Articles 7 and 43 of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic", Regulation "On the Implementation of Islamic Financing Principles in the Kyrgyz Republic within the Framework of a Pilot Project" (approved by Resolution of the Board of NBSR No. 32/2 of October 30, 2006, registered by the Ministry of Justice of the Kyrgyz Republic No. 120-06 of November 30, 2006), paragraph 2 of the Resolution of the Board of NBSR No. 33/1 of June 29, 2007 "On Amending the Resolution of the Board of NBSR No. 32/2 of October 30, 2006 'On the Regulation' 'On the Implementation of Islamic Financing Principles in the Kyrgyz Republic'" registered by the Ministry of Justice of the Kyrgyz Republic No. 74-07 of July 30, 2007, the Board of the National Bank of the Kyrgyz Republic resolves:

1. Approve amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approving the New Edition of the Chart of Accounts for Accounting in Commercial Banks and Other Financial and Credit Institutions of the Kyrgyz Republic" NBSR No. 28/3 of May 30, 2007, registered by the Ministry of Justice of the Kyrgyz Republic No. 66-07 of July 10, 2007 (attached).

2. Send this resolution to the Steering Committee formed within the framework of the implementation of the Memorandum of Understanding between the Kyrgyz Republic, the Islamic Development Bank, and JSC 'EcoBank' regarding the implementation of Islamic banking and financing in the Kyrgyz Republic dated May 16, 2006.

3. The Supervision and Licensing Methodology Department together with the Legal Department shall carry out the state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic in the established manner, followed by its official publication.

4. This resolution enters into force from the moment of official publication after state registration in the Ministry of Justice of the Kyrgyz Republic.

Published in the journal "Normative Acts of the National Bank of the Kyrgyz Republic", No. 13/2007

5. After the publication of the registered normative legal act, the Legal Department shall inform the Ministry of Justice of the Kyrgyz Republic about the source of publication (name of the publication, its number and date).

6. Control over the implementation of this resolution is entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic Bokontaev K.K.

For the Chairman of the Board

Acting Chairman of the Board of the National

Bank of the Kyrgyz Republic Abdybaly tegin S.

Approved

by the Resolution of the Board

of the National Bank

of the Kyrgyz Republic

of October 11, 2007 No. 44/4

AMENDMENTS

to the Resolution of the Board of the National Bank

of the Kyrgyz Republic "On Approving the New Edition

of the Chart of Accounts for Accounting in Commercial

Banks and Other Financial and Credit Institutions

of the Kyrgyz Republic" NBSR No. 28/3 of May 30, 2007,

registered in the Ministry of Justice

of the Kyrgyz Republic on July 10, 2007,

registration number 66-07

1. Make the following amendments to the Chart of Accounts for accounting in commercial banks

and other financial and credit institutions of the Kyrgyz Republic for JSC

'EcoBank' within the framework of the Pilot Project for the Implementation of Islamic

Financing Principles (Appendix 2 to the new edition of the Chart of Accounts

for Accounting in Commercial Banks and Other Financial and Credit

Institutions of the Kyrgyz Republic, approved by the Resolution of the Board

of the National Bank of the Kyrgyz Republic No. 28/3 of May 30, 2007,

registered in the Ministry of Justice of the KR on July 10, 2007, registration

number 66-07):

Complete Group of Accounts 20200 "Deposits of Individuals" with the following

accounts:

20215 Kard-Hassan (interest-free demand deposits of individual

residents)

20216 Mudaraba Operations (term interest-free deposits of individual

residents).

2. Make the following amendments to Appendix 2.1 to the new edition of the Chart of Accounts for

Accounting in Commercial Banks and Other Financial and Credit Institutions

of the Kyrgyz Republic for JSC 'EcoBank' within the framework of the Pilot

Project for the Implementation of Islamic Financing Principles, approved by

the Resolution of the Board of the National Bank of the Kyrgyz Republic No.

28/3 of May 30, 2007, registered in the Ministry of Justice of the KR on

July 10, 2007, registration number 66-07:

Complete the descriptions of the accounts of Group 20200 "Deposits of Individuals" with

paragraphs of the following content:

"20215 Kard-Hassan (interest-free demand deposits of individual

residents)

This account accounts for interest-free funds on demand of

individual residents of the KR for Kard-Hassan operations. The account must have a

credit balance. Upon crediting (receipt) of funds, the account is credited. Upon

debiting (withdrawal) of funds, the account is debited."

"20216 Mudaraba Operations (term interest-free deposits of individual

residents)

This account accounts for term interest-free funds of individual

residents of the KR for Mudaraba operations. The account must have a credit

balance. Upon crediting (receipt) of funds, the account is credited.

Upon debiting (withdrawal) of funds, the account is debited."