Resolution of the Board of the National Bank of the Kyrgyz Republic No. 45/15 of November 27, 2013 on Amendments to Regulatory Acts

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of November 27, 2013 No. 45/15

On Amendments and Additions to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 29, 2021 No. 2021-P-12/75-1)

Guided by Articles 7 and 43 of the 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. Approve the attached amendments and additions to the following regulatory legal acts of the National Bank of the Kyrgyz Republic:

- (paragraph lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 29, 2021 No. 2021-P-12/75-1)

• Temporary Rules for regulating the activities of microfinance companies in the territory of the Kyrgyz Republic, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 4/2 of February 19, 2003, registered in the Ministry of Justice of the Kyrgyz Republic on March 25, 2003, registration number 29-03.

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 29, 2021 No. 2021-P-12/75-1)

2. This Resolution shall enter into force upon the expiration of fifteen days from the date of its official publication.

3. The Legal Department:

• publish this Resolution on the official website of the National Bank of the Kyrgyz Republic;

• after official publication, 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.

4. The Department of Supervision and Licensing Methodology shall bring this Resolution to the attention of commercial banks, the State Development Bank of the Kyrgyz Republic, microfinance organizations, JSC "Financial Company of Credit Unions", and credit unions.

5. Control over the implementation of this Resolution is entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic Z.L. Chokoev.

Chairman	Z. Asankozhoeva

	Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic of November 27, 2013 No. 45/15

AMENDMENTS AND ADDITIONS to certain regulatory legal acts of the National Bank of the Kyrgyz Republic

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 29, 2021 No. 2021-P-12/75-1)

1. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 29, 2021 No. 2021-P-12/75-1)

2. Make the following additions to the Temporary Rules for regulating the activities of microfinance companies in the territory of the Kyrgyz Republic, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic No. 4/2 of February 19, 2003, registered in the Ministry of Justice of the Kyrgyz Republic on March 25, 2003, registration number 29-03:

1) supplement paragraph 2.1 at the end with the following paragraph:

"Microfinance companies must have an internal credit policy approved by the Board of Directors, which must necessarily define the main region of activity, the maximum size of a microloan issued to the same person, but not more than three percent of the minimum size of the authorized capital established by the National Bank for a newly created MFC (not attracting term deposits from individuals and legal entities), except for cases provided for in paragraph 2.1-1 of these Temporary Rules, as well as categories of borrowers entitled to receive microloans in accordance with the goals of microfinance organizations established in the Law "On Microfinance Organizations in the Kyrgyz Republic."."