REPEALED in accordance with the resolution of the Board of the National Bank of the Kyrgyz Republic No. 15/6 of 30 March 2016

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

No. 65/2 of 2 November 2015

On Amending and Supplementing the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Electronic Money in the Kyrgyz Republic'" No. 27/8 of 12 May 2015

Having considered the information submitted by the Payment Systems Department, for the purpose of protecting the rights of electronic money users, taking into account that 2015 has been declared the Year of Strengthening the National Economy of the Kyrgyz Republic, in order to support business related to electronic money, in accordance with Articles 7 and 43 of the Law "On the National Bank of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic

RESOLVES:

1. To introduce the following amendment and supplement to the resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Electronic Money in the Kyrgyz Republic'" No. 27/8 of 12 May 2015:

• to restate paragraph 4 as follows:

"4. Commercial banks and payment system operators shall bring their electronic money issuance activities into compliance with the requirements of the Regulation 'On Electronic Money in the Kyrgyz Republic' by 1 March 2016.";

• to supplement the resolution with paragraph 4-1 as follows:

"4-1. Payment system operators shall:

• cease the issuance of new electronic money;

• carry out the processing, distribution and redemption of existing electronic money in accordance with the requirements of the Regulation 'On Electronic Money in the Kyrgyz Republic'.".

2. The Legal Department shall:

• 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 Normative Legal Acts of the Kyrgyz Republic.

3. This resolution enters into force on the day of its official publication.

4. The Payment Systems Department shall bring this resolution to the attention of the structural subdivisions, regional departments and the representative office of the National Bank in Batken Oblast, payment system operators and payment organizations, and commercial banks of the Kyrgyz Republic.

5. Control over the execution of this resolution shall be entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic, B.Zh. Zheenbayevа.

Chairman of the Board of the National Bank of the Kyrgyz Republic		T. Abdygulov