Resolution of the National Bank of the Kyrgyz Republic No. 2022-P-33/52-3-(NFKU) of 17 August 2022 on Amending Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic on Issuing Permits of the National Bank of the Kyrgyz Republic to Non-Bank Financial and Credit Organizations

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

dated 17 August 2022 No. 2022-P-33/52-3-(NFKU)

On Amending Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic on Issuing Permits of the National Bank of the Kyrgyz Republic to Non-Bank Financial and Credit Organizations

Pursuant to Articles 5, 9 and 64 of the Constitutional Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic resolves:

To amend the following resolutions of the Board of the National Bank of the Kyrgyz Republic (attached):

"On Approving the Regulation 'On the Procedure for Issuing a License for the Right to Conduct Exchange Operations with Cash Foreign Currency'" dated 27 July 2011 No. 40/4;
"On Approving the Regulation 'On the Creation and Activities of Microcredit Companies and Microcredit Agencies'" dated 9 December 2015 No. 76/9;
"On Approving the Regulation 'On Licensing Credit Unions'" dated 23 December 2015 No. 78/25;
"On Approving the Regulation 'On Licensing the Activities of Microfinance Companies'" dated 23 December 2015 No. 78/26;
"On Approving the Regulation 'On Licensing the Activities of Specialized Financial Institutions'" dated 16 March 2016 No. 12/3;
"On Approving the Regulation 'On Licensing the Activities of Credit Bureaus'" dated 24 August 2016 No. 35/5;
"On Approving the Rules for Regulating the Activities of Credit Bureaus on the Territory of the Kyrgyz Republic" dated 28 September 2016 No. 40/5;
"On Approving the Rules for Forming the Internal Control and Internal Audit System in Banks and Non-Bank Financial and Credit Organizations Licensed and Regulated by the National Bank of the Kyrgyz Republic" dated 15 June 2017 No. 2017-P-12/25-3-(NPA);
"On Approving the Regulation 'On Licensing the Activities of the Specialized Financial and Credit Organization Open Joint Stock Company 'Financial Company of Credit Unions'" dated 15 June 2017 No. 2017-P-12/25-10-(NFKU);
"On Approving the Regulation 'On Minimum Requirements for Organizing Internal Control in Commercial Banks for the Purpose of Countering the Financing of Terrorist Activities and Legalization (Laundering) of Criminal Proceeds', the Regulation 'On the Procedure for Conducting Exchange Operations with Cash Foreign Currency in the Kyrgyz Republic' and Amending and Supplementing Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic on Issues of Countering the Financing of Terrorist Activities and Legalization (Laundering) of Criminal Proceeds'" dated 14 August 2019 No. 2019-P-12/42-1-(NPA);
"On Approving the Regulation 'On the Creation and Registration of Guarantee Funds in the Kyrgyz Republic'" dated 9 September 2019 No. 2019-P-33/47-2-(NFKU);
"On Approving the Regulation 'On Licensing the Activities of Housing Savings Credit Companies'" dated 1 November 2019 No. 2019-P-33/55-1-(NFKU).

To 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.

This resolution enters into force upon the expiration of fifteen days from the day of official publication.
To the Supervision Department for Non-Bank Financial and Credit Organizations: bring this resolution to the attention of microfinance organizations, credit unions, the open joint stock company "Financial Company of Credit Unions", the open joint stock company "Guarantee Fund", credit bureaus, housing savings credit companies, exchange bureaus, the association of legal entities "Association of Microfinance Organizations", the association of legal entities "National Association of Credit Unions and Cooperatives of Kyrgyzstan" and the association of legal entities "Association of Exchange Bureaus 'Alliance'".
Control over the execution of this resolution shall be imposed on the member of the Board of the National Bank of the Kyrgyz Republic supervising the Supervision Department for Non-Bank Financial and Credit Organizations.


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


	Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated "17" August 2022 No. 2022-P-33/52-3-(NFKU)

Amendments to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic on Issuing Permits of the National Bank of the Kyrgyz Republic to Non-Bank Financial and Credit Organizations

To amend the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approving the Regulation 'On the Procedure for Issuing a License for the Right to Conduct Exchange Operations with Cash Foreign Currency'" dated 27 July 2011 No. 40/4 as follows:

In the Regulation "On the Procedure for Issuing a License for the Right to Conduct Exchange Operations with Cash Foreign Currency", approved by the above resolution:

1) in the preamble in the state language, exclude the words "жеке адамдар жана";

2) restate paragraph 1 as follows:

"1. The following concepts are used in this Regulation:

"Exchange Bureau" – a specially equipped point created by a legal entity for conducting exchange operations with cash foreign currency carried out in accordance with a license of the National Bank of the Kyrgyz Republic.

"Additional Exchange Bureau" – a specially equipped point created by a legal entity holding a license of the National Bank of the Kyrgyz Republic for conducting exchange operations with cash foreign currency carried out in accordance with the license and a registration letter of the National Bank of the Kyrgyz Republic.

"Exchange Operations with Cash Foreign Currency" – operations for the purchase, sale and exchange of cash foreign currency carried out using working capital and in one's own name only by exchange bureaus holding the corresponding license of the National Bank of the Kyrgyz Republic.

"Working Capital of an Exchange Bureau" – own monetary funds of a legal entity free from tax payments to the budget, with which the exchange bureau is endowed for conducting exchange operations with cash foreign currency. The minimum amount of working capital for one exchange bureau is 500,000 (five hundred thousand) som, except for exchange bureaus located in the territories of the cities of Bishkek and Osh, for which the amount of working capital is 1,000,000 (one million) som. When opening additional exchange bureaus, the minimum amount of working capital for each exchange bureau additionally created by a legal entity is 500,000 (five hundred thousand) som, except for additional exchange bureaus located in the territories of the cities of Bishkek and Osh, for which the amount of working capital is 1,000,000 (one million) som.

If an exchange bureau of a legal entity intends to conduct exchange operations with cash foreign currency on a seasonal basis (less than 4 (four) months consecutively in one calendar year), the minimum amount of working capital for one exchange bureau is 500,000 som (five hundred thousand).

The minimum amount of working capital for each exchange bureau additionally created by a legal entity that intends to conduct exchange operations with cash foreign currency on a seasonal basis (less than 4 (four) months consecutively in one calendar year) is 200,000 (two hundred thousand) som.";

3) restate paragraph 8 as follows:

"8. Conducting exchange operations with cash foreign currency by an exchange bureau may be carried out only after obtaining a license of the National Bank for the right to conduct exchange operations with cash foreign currency (Appendix 1).

Conducting exchange operations with cash foreign currency by an additional exchange bureau may be carried out only after obtaining a registration letter for the additional exchange bureau from the National Bank (Appendix 5).";

4) restate paragraph 9 as follows:

"9. To obtain a license for the right to conduct exchange operations with cash foreign currency, the following documents are submitted to the National Bank:

1) application for issuance of a license for conducting exchange operations with cash foreign currency (Appendix 2);

2) information on the sources of origin of the working capital of the exchange bureau (Appendix 8-1);

3) copy of the certificate of state registration of the applicant;

4) constituent documents (the applicant's charter must contain an indication of its right to conduct exchange operations with cash foreign currency in accordance with a license of the National Bank);

5) decision of the authorized management body of the applicant legal entity on opening an exchange bureau and on contributing funds of the founder to replenish the working capital of the exchange bureau in accordance with the amounts specified in paragraph 1 of this Regulation;

6) decision on appointing the head of the exchange bureau;

7) decision on appointing the head of the legal entity;

8) certificate from a commercial bank confirming the presence in the applicant's (legal entity's) account with a commercial bank of working capital funds (the certificate must be issued no earlier than 14 calendar days before the day of submission of documents) in national currency in accordance with the amounts specified in paragraph 1 of this Regulation;

9) copy of the lease agreement containing data allowing identification of the exchange bureau premises, or a title document confirming ownership of the exchange bureau premises, certified by the applicant's seal;

10) order on appointing the official responsible for compliance with internal control rules on countering the financing of terrorist activities and legalization (laundering) of criminal proceeds during exchange operations with cash foreign currency;

11) copy of the passport of the founder/participant of the applicant legal entity and the head of the exchange bureau;

12) internal procedure of the exchange bureau regulating the submission of reporting and the procedure for performing cash operations.";

5) restate subparagraph 2 of paragraph 9-1 as follows:

"2) documents confirming the presence of working capital funds (issued no earlier than 14 calendar days before the day of submission of documents) in accordance with the amounts specified in paragraph 1 of this Regulation;";

6) supplement with paragraph 9-2 as follows:

"9-2. Along with the submission of those provided for by this Regulation, the applicant must provide consent to the collection and processing of personal data in accordance with Appendix 12 to this Regulation in respect of individuals whose personal data are submitted to the National Bank.";

7) restate paragraphs 14-16 as follows:

"14. Based on the results of consideration of the submitted documents, the applicant is issued a license for the right to conduct exchange operations with cash foreign currency or a registration letter for an additional exchange bureau.

A registration letter for an additional exchange bureau does not replace a license and does not give the applicant the right to conduct exchange operations with cash foreign currency in the absence of an exchange bureau license.
The decision on issuing/refusing to issue a license is taken by the Deputy Chairman/member of the Board of the National Bank supervising supervision and licensing issues (in regional departments and the representative office – by the head of the regional department/director of the representative office) within 30 calendar days from the day of receipt of the application and documents specified in paragraph 9 of this Regulation.

The decision on issuing/refusing to issue a registration letter for an additional exchange bureau is taken by the head of the responsible structural subdivision of the National Bank (in regional departments and the representative office – by the head of the regional department/director of the representative office) within 15 working days from the day of receipt of the application and documents specified in paragraph 32 of this Regulation.";

8) restate paragraphs 18 and 19 as follows:

"18. A registration letter for an additional exchange bureau is issued free of charge.

Issuance of a license to an exchange bureau and a registration letter for an additional exchange bureau is carried out upon presentation of the applicant's identity document, or by a person authorized by him, with a power of attorney executed in accordance with established requirements.";

9) restate subparagraph 3 of paragraph 25 as follows:

"3) documents issued no earlier than 14 calendar days before the day of submission of documents confirming the presence of working capital funds in national currency in accordance with the amounts specified in paragraph 1 of this Regulation;";

10) restate paragraph 25-1 as follows:

"25-1. If an exchange bureau and an additional exchange bureau of a licensee legal entity that intended to conduct exchange operations with cash foreign currency on a seasonal basis (less than 4 months consecutively in one calendar year) will conduct its activities on a permanent basis, the licensee is obliged to bring the minimum amount of working capital into compliance with the amounts specified in paragraph 1 of this Regulation and submit the following documents to the National Bank:

1) notification;

2) certificate from a commercial bank confirming, as of the day of submission of the notification, the presence in the licensee's account with a commercial bank of working capital funds in national currency in accordance with the amounts specified in paragraph 1 of this Regulation, or an equivalent amount in foreign currency at the official exchange rate of the National Bank effective on the day of submission of the notification;

3) information on the sources of working capital of the exchange bureau (Appendix 8-1).

4) application for re-issuance of the license for the right to conduct exchange operations with cash foreign currency.";

11) restate paragraph 28 as follows:

"28. Change of address of an exchange bureau.

1) When the address of an exchange bureau changes, the licensee must apply to the National Bank for re-issuance of the license for the right to conduct exchange operations with cash foreign currency, indicating the new address of the exchange bureau. For re-issuance of the license for the right to conduct exchange operations with cash foreign currency indicating the new address, the licensee submits the following documents to the National Bank:

a) application for re-issuance of the license for the right to conduct exchange operations with cash foreign currency due to a change in the address of the exchange bureau;

b) copy of the lease agreement or a copy of the document confirming ownership of the new premises of the exchange bureau, certified by the licensee's seal;

c) original of the license for the right to conduct exchange operations with cash foreign currency indicating the previous address.

2) When the address of an additional exchange bureau changes, the licensee must obtain, in accordance with the requirements of this Regulation, a new registration letter for the additional exchange bureau from the National Bank at the new address of the additional exchange bureau. For re-issuance of the registration letter for the additional exchange bureau at the new address, the licensee submits the following documents to the National Bank:

a) application for re-issuance of the registration letter for the additional exchange bureau due to a change in the address of the additional exchange bureau;

b) copy of the lease agreement or a copy of the document confirming ownership of the new premises of the additional exchange bureau, certified by the licensee's seal;

c) original of the registration letter for the additional exchange bureau at the previous address of the additional exchange bureau.";

12) restate paragraph 31 as follows:

"31. To open an additional exchange bureau, the licensee must obtain a letter from the National Bank on registration of the additional exchange bureau. Before obtaining the registration letter for the additional exchange bureau, it is prohibited to conduct exchange operations with cash foreign currency in the premises of the additionally opened exchange bureau.";

13) restate paragraph 32 as follows:

"32. To register an additional exchange bureau, the licensee submits the following documents to the National Bank:

1) application for registration of an additional exchange bureau in the form of Appendix 6;

2) copy of the lease agreement or a copy of the document confirming ownership of the premises of the additional exchange bureau, certified by the licensee's seal;

3) certificate from a commercial bank confirming the presence in the applicant's account with a commercial bank of working capital funds (the certificate must be issued no earlier than 14 calendar days before the day of submission of documents) in national currency in accordance with the amounts specified in paragraph 1 of this Regulation;

4) copy of the passport of the founder/participant of the applicant legal entity and the head of the exchange bureau;

5) decision or order on appointing the head of the additional exchange bureau;

6) decision or order on opening the additional exchange bureau;

7) information on the sources of origin of the working capital of the additional exchange bureau (Appendix 8-1).";

14) restate paragraph 32-1 as follows:

"32-1. If a legal entity's license for the right to conduct exchange operations with cash foreign currency expires, or no more than 30 (thirty) calendar days have passed since its expiry, the legal entity may submit an application for obtaining a new registration letter for an additional exchange bureau after obtaining a new license in accordance with paragraph 9-1 of this Regulation.

To obtain a new registration letter for an additional exchange bureau, no later than 5 (five) working days after obtaining the new license in accordance with paragraph 9-1 of this Regulation, the legal entity may submit the documents specified in subparagraphs 1-5 of paragraph 32 of this Regulation and information on the sources of origin of the working capital of the additional exchange bureau according to Appendix 8-1 to this Regulation (if not previously submitted) and/or for the difference in amounts of working capital (in case of an increase in working capital).";

15) restate the second paragraph of paragraph 33 as follows:

"The responsible structural subdivision of the National Bank has the right to refuse the applicant registration of an additional exchange bureau on the grounds specified in subparagraphs 1-2, 6-7, 12-13 and 15-17 of paragraph 44 of this Regulation.";

16) restate paragraph 43 as follows:

"43. Exchange bureaus must be equipped with stands containing information on the purchase and sale rates of cash foreign currency. In each exchange bureau, the following information must be posted in a place visible to clients:

name of the legal entity that opened this exchange bureau;
license of the exchange bureau (in additional exchange bureaus – a certified copy of the license);
full name, position of the head of the exchange bureau;
full names of employees of the legal entity that opened this exchange bureau involved in the activities of the exchange bureau;
operating hours of the exchange bureau;
original of the registration letter for the additional exchange bureau (for an additional exchange bureau);
information for clients and the procedure for their servicing in accordance with Appendix 10 to this Regulation.

Only the activity provided for by the license must be carried out on the territory of the exchange bureau.";

17) restate paragraph 44 as follows:

"44. The National Bank refuses to issue a license in the following cases:

1) if there is unreliable information in the documents submitted by the applicant to obtain a license;

2) failure to submit/incomplete submission of the documents required by this Regulation to obtain a license, and/or submission of documents that do not meet the requirements – more than two times;

3) failure to pay the state fee for issuing a license;

4) non-compliance of the applicant with the requirements established by the legislation of the Kyrgyz Republic;

5) when the conduct of this type of activity is prohibited by legislative acts for this category of subjects;

6) non-compliance of the premises and equipment of the exchange bureau (additional exchange bureau) with the conditions and procedure for the functioning of exchange bureaus established in the regulatory legal acts of the National Bank;

7) systematic violation of cash discipline (if the term of the current license has not yet expired) with 2 (two) or more violations during the last 12 (twelve) months;

8) if the applicant or the applicant's participants are registered in offshore zones or have as participants affiliated persons registered in offshore zones, or individuals residing in the territory of offshore zones, the list of which is established by the National Bank;

9) if the applicant or the applicant's participants are registered or reside in the territory of high-risk countries that do not apply or insufficiently apply the recommendations of the intergovernmental organization (group) for the development and implementation of international standards on countering money laundering, terrorist financing and financing the proliferation of weapons of mass destruction (FATF) and do not participate in international cooperation in the field of countering the financing of terrorist activities and legalization (laundering) of criminal proceeds, as well as the presence of the applicant or the applicant's participants in the Sanctions lists and the List of persons, groups and organizations in respect of which there is information about their participation in legalization (laundering) of criminal proceeds, responsible for the formation and updating of which is the financial intelligence body.

Note: the terminology used is understood in accordance with the legislation of the Kyrgyz Republic in the field of countering the financing of terrorist activities and legalization (laundering) of criminal proceeds.

10) existence of a court decision in respect of the applicant prohibiting the applicant from engaging in this type of activity;

11) repeated application by the applicant and/or any of its participants (including by creating a new legal entity or participating in the charter capital of another legal entity) whose license for the right to conduct exchange operations with cash foreign currency was revoked within the last three years for violating the requirements of legislation and regulatory legal acts of the National Bank, including in the field of countering the financing of terrorist activities and legalization (laundering) of criminal proceeds;

12) non-disclosure of information on the sources of formation of working capital funds for conducting exchange operations with cash foreign currency;

13) establishment that the origin of monetary funds contradicts the legislation of the Kyrgyz Republic;

14) existence of an unexpunged and unspent conviction for committing a crime in the economic sphere for the founder/participant of the applicant legal entity and/or the head of the exchange bureau;

15) existence of outstanding debt (fine) for violations related to conducting exchange operations with cash foreign currency for the founder/participant of the applicant legal entity and/or the head of the exchange bureau;

16) obstruction of conducting an inspection of the activities and premises of the exchange bureau for compliance with the requirements of this Regulation;

17) conducting exchange operations with cash foreign currency after the expiration of the license, including during the submission of documents for obtaining a new license in accordance with paragraph 9-1 of the Regulation or until the relevant court decision.

18) the applicant has debt to the budget at the time of consideration of documents by the National Bank.";

18) supplement with paragraph 44-1 as follows:

"44-1. When the applicant eliminates the grounds specified in paragraph 44 of this Regulation, a repeated application shall be reviewed on general grounds.";

19) paragraph 48 shall be amended to read as follows:

"48. Upon termination of the license, within 3 (three) working days, the legal entity to which the license was issued shall surrender to the National Bank the original license and, if there is an additional exchange bureau, the original letter of registration of the additional exchange bureau.";

20) subparagraph 4 of paragraph 51 shall be amended to read as follows:

"4) functioning of an exchange bureau at an address not corresponding to that specified in its license and/or functioning of an additional exchange bureau at an address not corresponding to that specified in the letter of its registration;";

21) Appendix 1 to the Regulation shall be amended to read as follows:

"Appendix 1

to the Regulation on the procedure for issuing a license for the right to conduct exchange operations with cash foreign currency

NATIONAL BANK

OF THE KYRGYZ REPUBLIC

LICENSE No. ______

for the right to perform exchange operations with cash foreign currency

registered on "" ______ 20 year

The National Bank of the Kyrgyz Republic grants ______

(name of the legal entity) ______

(Bishkek, Osh / name of the region)

the right to conduct exchange operations with cash foreign currency.

Address of the exchange bureau:

On the basis of this license, the exchange bureau may conduct the following exchange operations at the expense of working capital and in its own name:

a) purchase of cash foreign currency for cash national currency;

b) sale of cash foreign currency for cash national currency.

The National Bank of the Kyrgyz Republic shall not be liable for risks arising from exchange operations with cash foreign currency.

This license grants the right to carry out exchange operations with cash foreign currency expressly specified in the license.

The exchange bureau is prohibited from attracting funds from legal entities and individuals on terms of urgency, payment, and repayment; accepting funds (foreign or national currency) as prepayment at a pre-agreed exchange rate; performing other operations not expressly specified in the license.

The performance of operations not provided for in the license entails liability under the legislation.

The license is non-transferable (nominal). The rights arising from this license shall not be transferred to third parties.

This license enters into force from the moment of its signing and is valid for five years.

(For a legal entity that performs exchange operations with cash foreign currency on a seasonal basis, the period of its activity shall be indicated).


Head of the department / head of the regional department / director of the representative office of the National Bank	______ (signature)	______ (full name of the official)";

22) Appendix 5 to the Regulation shall be amended to read as follows:


	"Appendix 5 to the Regulation on the procedure for issuing a license for the right to conduct exchange operations with cash foreign currency

LETTER

on registration of an additional exchange bureau

This confirms that the additional exchange bureau located at: ______

is registered under number ______ in the National Bank of the Kyrgyz Republic on the basis of license for the right to perform exchange operations with cash foreign currency No. ______ dated "" ______ 20., issued to:

______ (name of the legal entity and address of the main exchange bureau)

______ (date of issue of the license and date of expiry of the license)

The letter of registration of the additional exchange bureau is valid only during the validity period of the above-mentioned license of the National Bank of the Kyrgyz Republic.

A copy of the letter is invalid.


Head of the department / head of the regional department / director of the representative office of the National Bank	______ (signature)	______ (full name of the official)";

23) in Chapter I of Appendix 10 to the Regulation, the words "physical or" shall be excluded;

24) paragraph 2 of Chapter III of Appendix 10 to the Regulation after the words "Cashier (responsible employee)" shall be supplemented with the words "upon the client's request";

25) supplement with Appendix 12 to the Regulation as follows:

"Appendix 12

to the Regulation on the procedure for issuing a license for the right to conduct exchange operations with cash foreign currency

Consent of the personal data subject

to the collection and processing of his/her personal data

Locality ______ date "___" ____20.

I, ______

(last name, first name, patronymic)

residing at: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______

(date of issue, by whom issued)

For authorized persons

acting on behalf of

(last name, first name, patronymic)

residing at: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______ (date of issue, by whom issued)

on the basis of ______

(power of attorney, law, other legal act)

freely, consciously, of my own will give full and unconditional consent to the National Bank of the Kyrgyz Republic:

to the processing (any operation or set of operations performed regardless of methods, by the National Bank or on its behalf, by automated means or without such means for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as to:
transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic "On Personal Information" and international treaties);
cross-border transfer of personal data (transfer by the National Bank of personal data to holders located under the jurisdiction of other states) of all personal data provided by me in accordance with banking legislation.

The above consent applies, inter alia, to the following personal data: last name, first name and patronymic (previous last name, first name, patronymic, date, place and reason for change (in case of change); date and place of birth; information on citizenship (including previous citizenship, other citizenships); information on education (name and year of graduation of the educational organization, name and details of the document on education, qualification, field of training or specialty according to the document on education); information on the presence of an academic degree; information on knowledge of foreign languages, level of proficiency; address of residence (place of stay); contact telephone number or information on other means of communication; type, series, number of the identity document, name of the issuing authority, date of issue; taxpayer identification number; marital status, family composition and close relatives; information on labor activity (including military service, part-time work, entrepreneurial activity, activity on the basis of service contracts, etc.); state awards, other awards and insignia (by whom awarded and when); information on the presence or absence of a criminal record, including on applied measures of disciplinary, administrative liability and liability for committing misconduct and violations; information on income, expenses, property and property obligations; personal photograph).

The above personal data I provide for processing for the purposes of the National Bank's implementation of licensing procedures provided for by the banking legislation of the Kyrgyz Republic.

I hereby confirm that I have been notified of the transfer of my personal data to other state bodies, foreign banking and financial supervision and regulation bodies for verification of their accuracy and for identifying information on matters of impeccable business reputation and qualifications, including consciously and unconditionally confirm that I do not require subsequent notification of me in accordance with Article 24 of the Law of the Kyrgyz Republic "On Personal Information" and paragraph 12 of the Procedure for obtaining consent of the personal data subject to the collection and processing of his/her personal data, the procedure and forms of notification of personal data subjects on the transfer of their personal data to a third party, approved by the Resolution of the Government of the Kyrgyz Republic dated November 21, 2017 No. 759, when the National Bank transfers my personal data to the above persons within the framework of supervision and licensing procedures.

Consent to the processing of personal data is perpetual (valid permanently for the purposes of supervision and licensing) and is valid from the date of signing this consent.


"_" ______ 20 ______ Signature	Full name".

To introduce the following changes to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On the creation and activity of microcredit companies and microcredit agencies'" dated December 9, 2015 No. 76/9:

in the Regulation "On the creation and activity of microcredit companies and microcredit agencies", approved by the above-mentioned Resolution:

1) in paragraph 7, the words "Kard-Hasan" shall be replaced by the word "Kard";

2) paragraph 11 shall be amended to read as follows:

"11. Each copy of the constituent document or other decision of an MCC/MCA submitted to the National Bank in accordance with this Regulation, containing more than one sheet, must be separately bound, numbered and signed by the head of the MCC/MCA or another authorized person and certified by the seal of the MCC/MCA (if any). At the same time, the authorized person must also submit a copy of the relevant document on his/her authority to sign documents submitted to the National Bank.";

3) paragraph 17 shall be amended to read as follows:

"17. To obtain a certificate, an MCC/MCA (including an MCC/MCA intending to carry out operations in accordance with Islamic principles of banking and finance) at its location shall submit the following documents to the National Bank:

1) an application for the issuance of a certificate (Appendix 1);

2) a decision (in the case of one founder) or minutes of the general meeting of founders (in the case of more than one founder) of the MCC/MCA (in two copies), containing decisions:

on the establishment of the MCC/MCA;
on the election/appointment of the chairman and members of the board of directors/supervisory body (if such body exists);
on the election/appointment of the head(s) of the executive body (hereinafter - the head);
on the election of the chairman and members of the Shariah Council (if the MCC/MCA intends to carry out operations in accordance with Islamic principles of banking and finance);
on other issues provided for by the legislation of the Kyrgyz Republic;

3) a decision of the authorized management body of the MCC/MCA:

on the appointment of the chief accountant (accountant or invited accountant with the rights of chief in the absence of the position of chief accountant in the staff) (hereinafter - the chief accountant);
on the appointment of the head of the lending division (if any), the head of the division/employee for financing in accordance with Islamic principles of banking and finance (if the MCC/MCA intends to carry out operations in accordance with Islamic principles of banking and finance);
on the appointment of an employee responsible for the development and implementation of the internal control program for compliance with legislation on countering the financing of terrorist activities and legalization (laundering) of criminal proceeds;
on the organizational structure of the MCC/MCA (management bodies, structural divisions (departments, divisions), their functional duties, scope of issues considered, subordination);

4) the constituent agreement on the creation of the MCC/MCA (in the case of more than one founder) (in two copies);

5) the charter of the MCC/MCA (in two copies);

6) questionnaires of the chairman and members of the board of directors, the chairman and members of the Shariah Council, the head of the division/employee for financing in accordance with Islamic principles of banking and finance, the head of the lending division of the MCC/MCA (if the specified bodies and officials exist), the head, the chief accountant (Appendix 2), as well as information and documents confirming their compliance with the minimum qualification requirements established by this Regulation and normative legal acts of the National Bank.

7) documents containing information and allowing to determine the sources of origin of funds when founders (participants, shareholders) contribute funds to the charter capital of the MCC/MCA in an amount of more than 20% of the minimum charter capital established by the National Bank for MCCs:

a) legal entities may submit:

copies of financial statements, tax declarations or other documents on financial condition, confirmed by authorized bodies of the Kyrgyz Republic;
a copy of the audit report (if any or if this requirement is established by legislation);
other documents confirming the sources of origin of funds contributed to the charter capital, not prohibited by the legislation of the Kyrgyz Republic, or their copies certified in the established manner;
copies of the constituent documents of the legal entity, certified by this legal entity;

b) individuals may submit:

certificates, income declarations, purchase/sale/gift agreements, right to inheritance of sums, property and others, or their copies certified in the established manner;
other documents confirming the sources of origin of funds contributed to the charter capital, not prohibited by the legislation of the Kyrgyz Republic, or their copies certified in the established manner;

8) copies of passports of founders (participants) - individuals and persons specified in subparagraph 6 of this paragraph;

9) information on founders (participants) - legal entities (copies of constituent documents and the document on state registration of the legal entity, certified by the seal of this legal entity).

In the constituent documents specified in subparagraphs 2 and 4 of this paragraph, the signatures of founders - individuals must be notarized, the signatures of authorized persons who are representatives of a participant - legal entity, must be sealed by the legal entity or notarized.

Along with the submission of the documents provided for by this Regulation, MCC/MCA, individuals and legal entities must provide consent to the collection and processing of personal data in accordance with Appendix 11 to this Regulation in respect of persons whose personal data are submitted to the National Bank. Failure to provide the above consent is a ground for refusal to consider the submitted documents, including on issues of determining the compliance of officials of the MCC/MCA with minimum requirements, including heads, chief accountants of separate structural divisions of the MCC/MCA, founders (participants, shareholders) of MCCs and founders (participants) of MCAs.";

4) paragraph 18 shall be amended to read as follows:

"18. Within the framework of issuing a certificate/license, confirming the sources of origin of funds, approving officials, issuing consent to state registration (re-registration), the National Bank, if it considers that the submitted information is insufficient to make a decision, may request additional information and documents necessary for the procedures for issuing permits, confirming the sources of origin of funds, approving officials, issuing consent to state registration (re-registration), which must be submitted by the applicants within the time limits specified in the request.";

5) paragraph 21 shall be amended to read as follows:

"21. Candidates for the position of chairman and members of the board of directors, head of the lending division, head of the division/employee for financing in accordance with Islamic principles of banking and finance (if the specified bodies and officials exist), head and chief accountant, MCC/MCA must meet the following minimum requirements:

1) for the chairman and members of the board of directors:

a) higher education;

b) knowledge of the legislation of the Kyrgyz Republic in the field of activity of microfinance organizations, including normative legal acts of the National Bank;

c) knowledge in the field of corporate governance, confirmed by relevant certificates or other documents.

2) for the head:

a) higher education or 2 (two) years of work experience in banks or financial and credit organizations (in the presence of secondary vocational education);

b) knowledge of the legislation of the Kyrgyz Republic in the field of activity of microfinance organizations, including normative legal acts of the National Bank;

c) knowledge in the field of Islamic principles of banking and finance, confirmed by relevant certificates or other documents - for the head of an MCC/MCA carrying out operations in accordance with Islamic principles of banking and finance;

3) for the chief accountant:

a) higher education in the field of economics and finance or 1 (one) year of work experience in the field of accounting (in the presence of secondary vocational education in the field of economics and finance);

b) a certificate or other document confirming that the candidate has undergone training in accounting;

c) knowledge in the field of standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) - for the chief accountant of an MCC/MCA carrying out operations in accordance with Islamic principles of banking and finance;

4) for the head of the lending division and the head of the division / employee for financing in accordance with Islamic principles of banking and finance:

a) higher education in the field of economics and finance or 1 (one) year of work experience in the lending division (financing in accordance with Islamic principles of banking and finance) in banks or financial and credit organizations (in the presence of secondary vocational education in the field of economics and finance);

b) knowledge of the legislation of the Kyrgyz Republic in the field of activity of microfinance organizations, including normative legal acts of the National Bank;

c) knowledge in the field of Islamic principles of banking and finance, confirmed by certificates or other documents on successful completion of training in this area - for the head of the division/employee for financing in accordance with Islamic principles of banking and finance.";

6) paragraph 22 shall be amended to read as follows:

"22. The National Bank may determine the non-compliance of candidates for the position of chairman and members of the board of directors, head, chief accountant, head of the lending division, chairman and members of the Shariah Council, head of the division/employee for financing in accordance with Islamic principles of banking and finance of the MCC/MCA with the minimum requirements in the following cases:

1) the presence of one or more decisions of the National Bank recognizing him/her:

as having committed violations of legislation regulating banking and microfinance activities, including normative legal acts of the National Bank, resulting in the application of measures of influence to the financial and credit organization by the National Bank (with the exception of adopted and executed warnings and orders sent to the financial and credit organization based on the results of inspections, for which the financial and credit organization submitted a report on execution, if such measures of influence, including bringing an official to administrative liability, were not applied more than once on the same issue), including revocation of a license and/or certificate, introduction of temporary administration within the last 3 (three) years;
as involved in actions (inactions) that led to the involvement of the financial and credit organization in unsound banking practice;

2) the presence of confirmed written information from state bodies of the Kyrgyz Republic or other states indicating the improper business reputation of the candidate;

3) the presence of materials from inspections by regulatory bodies of the Kyrgyz Republic indicating violations of legislation in the areas for which the candidate was responsible;

4) the presence of a court decision prohibiting the candidate from engaging in this type of activity;

5) if, in the assessment of the National Bank, the appointment to a position in an MCC/MCA of a candidate holding a position in financial and credit organizations or organizations operating in competing markets may lead to a conflict of interest.

When assessing a conflict of interest, the National Bank takes into account:

potential risks regarding the safety of public deposits;
potential risks regarding the stability of organizations with state participation;
potential risks regarding the stability of financial and credit organizations having debt to the state or under state guarantees;
opinions of organizations in which the candidate works;

6) if the candidate has not submitted the documents requested by the National Bank within the framework of determining the candidate's compliance with the position within 10 (ten) working days from the date of receipt of the request (electronic version of the request).";

7) supplement with paragraphs 22-1 and 22-2 as follows:

22-1. If a candidate does not meet the requirements for the positions specified in paragraph 21 and paragraph 26 of this Regulation, that person shall be dismissed from the position within 10 (ten) working days from the day of receipt of the National Bank's letter of notification.

22-2. A candidate shall not have the right to hold positions in an MCC/MCA specified in paragraph 21 and paragraph 26 of this Regulation if there are facts specified:

in subparagraph "a" of paragraph 22 of this Regulation – within 4 (four) years from the day the corresponding decision enters into force;
in subparagraph "b" of paragraph 22 of this Regulation – within 4 (four) years from the day of adoption of the decision determining the fact that the candidate has committed actions (inaction) indicating the candidate's improper business reputation;
in subparagraph "c" of paragraph 22 of this Regulation – within 4 (four) years from the day of registration by the regulatory bodies of official documents based on the results of inspections indicating violations.";

8) Paragraph 26 shall be stated in the following wording:

"26. The Chairman and members of the Sharia Council must meet the following minimum requirements:

1) have a higher education diploma; for the chairman – a higher education diploma in the field of Sharia in the area of law and/or financial activity;

2) possess knowledge in the field of Islamic principles of banking and financing, confirmed by certificates or other documents on successful completion of training in this area, and knowledge of banking legislation in the sphere of Islamic principles of banking and financing, including the main regulatory legal acts of the National Bank;

3) not fall under the conditions of paragraph 22 of this Regulation;

4) members of the Sharia Council may be members of the Sharia Council of one commercial bank and two non-bank financial and credit organizations.";

9) Supplement with paragraph 26-1 of the following content:

"26-1. The Chairman of the Sharia Council, in addition to the requirements established in this paragraph, must have work experience of not less than 1 (one) year in the Sharia Council of a financial and credit organization carrying out operations in accordance with Islamic principles of banking and financing, or have experience in the field of teaching or research of Islamic principles of banking and financing of not less than 4 (four) years (scientific works, articles, reports, etc.).";

10) Subparagraph 3 of paragraph 38 shall be recognized as having lost force;

11) Supplement with paragraphs 42-1, 42-2 and 42-3 of the following content:

"42-1. For approval by the National Bank of changes being made (approval in a new wording) to the regulation on a branch/representative office, the MCC/MCA shall submit to the National Bank at the place of its location the following documents:

1) an application on making changes to the regulation on the branch/representative office of the MCC/MCA;

2) the corresponding decision of the authorized body of the MCC/MCA and a copy of such decision certified by the seal;

3) the regulation and a copy of the regulation (certified by the seal of the MCC/MCA).

42-2. The National Bank shall consider the documents submitted in accordance with the requirements of this Regulation within 10 (ten) working days. If the documents comply with the requirements of this Regulation and there are no grounds for refusal, the National Bank shall issue to the MCC/MCA consent to state re-registration of the branch/representative office of the MCC/MCA with the attachment of the original copies of the MCC/MCA documents specified in subparagraphs 2 and 3 of paragraph 42-1 of this Regulation.

42-3. Within 10 (ten) working days from the day of state re-registration of the branch/representative office, the MCC/MCA shall submit to the National Bank the following documents:

1) a copy of the certificate of state re-registration of the branch/representative office of the MCC/MCA, certified by the seal of the MCC/MCA;

2) a copy of the Regulation on the branch/representative office with a mark of state re-registration of the branch/representative office of the MCC/MCA, certified by the seal of the MCC/MCA.

The National Bank shall enter information on the state re-registration of the branch/representative office into the register.";

12) Paragraph 44 shall be stated in the following wording:

"44. For approval by the National Bank of changes and/or additions being made to the constituent documents, the MCC/MCA at the place of its location shall submit to the National Bank the following documents:

1) an application on making changes and/or additions to the constituent documents (Appendix 6);

2) the original copy and a copy certified by the seal of the MCC/MCA of the decision of the authorized management body of the MCC/MCA on making changes and/or additions to the charter;

3) the original copy of the constituent agreement (when changing the composition of participants/founders) and/or the charter in a new wording, as well as their copies certified by the seal of the MCC/MCA;

4) when increasing the authorized capital – a document confirming on the day of filing the application the availability of funds in full for the increase of the authorized capital in an account with a commercial bank of the Kyrgyz Republic (statements from the bank account), except for an increase of the authorized capital at the expense of retained earnings.

At the same time, the amount of funds directed to increase the authorized capital shall be recorded in the additional capital account and may be used by the MCC before full re-registration only for crediting, financing in accordance with Islamic principles of banking and financing.

If the increase of capital is made:

at the expense of additional capital contributed by the founders (participants, shareholders) – an agreement/contract/decision (for a single participant) on contributing funds as additional capital and on the irrevocability of such capital shall be submitted, as well as statements from the bank account in a commercial bank of the Kyrgyz Republic on the contribution of the said funds;
at the expense of retained earnings after passing an audit – a decision of the general meeting of founders (participants, shareholders) on increasing the authorized capital at the expense of retained earnings shall be submitted;

5) documents containing information that allows determining the sources of origin of funds, when contributing or purchasing a share in the authorized capital by the founders (participants, shareholders), including new participants/shareholders, to the authorized capital of the MCC in an amount of more than 20% of the minimum amount of the authorized capital established by the National Bank for the MCC, according to the list of documents established in subparagraph 7 of paragraph 17 of this Regulation (except for an increase of the authorized capital at the expense of retained earnings);

6) when decreasing the authorized capital:

forecast calculations on the financial condition of the MCC/MCA after the decrease of the authorized capital (trial report on financial condition) and the impact on the MCC/MCA's compliance with the requirements of the National Bank and the fulfillment of obligations to the creditors of the MCC/MCA;
written consent of creditors – financial and credit organizations to the decrease of the authorized capital of the MCC/MCA (if any);

7) other information and documents in accordance with the legislation of the Kyrgyz Republic;

8) when purchasing a share in the authorized capital – a document confirming on the day of filing the application the availability of funds in full for the purchase of the authorized capital in an account with a commercial bank of the Kyrgyz Republic (statements from the bank account).";

13) Supplement with paragraph 44-1 of the following content:

"44-1. An MCC planning to contribute funds to additional capital must send to the National Bank a notification of the intention to contribute funds to additional capital, an agreement/contract/decision (for a single participant) on contributing funds as additional capital and documents confirming the sources of origin of funds.

The National Bank shall consider the documents specified in the first paragraph of this paragraph within 10 (ten) working days. Based on the results of consideration, the National Bank shall send to the MCC consent to the MCC's intention to contribute funds to additional capital or a letter on the impossibility of determining the source of origin of funds corresponding to the requirements of the legislation of the Kyrgyz Republic.

After receiving the consent of the National Bank, the MCC shall, within 3 (three) working days, provide a document confirming the availability of funds in full in an account with a commercial bank on the day of contributing funds to additional capital.";

14) Subparagraphs 3 and 4 of paragraph 74 shall be stated in the following wording:

"3) if the officials specified in paragraph 21 and paragraph 26 of this Regulation do not meet the established minimum qualification requirements;

4) failure to submit in full the documents provided for by this Regulation or requested by the National Bank in accordance with paragraph 18 of this Regulation, within 10 (ten) working days from the day of receipt of the request (electronic version of the request);";

15) Paragraph 77 shall be stated in the following wording:

"77. Additional banking operations of the MCC.

1) The MCC may additionally carry out the following banking operations provided that these operations are specified in the license issued to the MCC:

a) acquisition of the right of claim from third parties for the fulfillment of obligations in monetary form (factoring);

b) retail banking services under an agency agreement with a bank – without opening accounts for clients in the microcredit company;

c) purchase and sale of foreign currency on its own behalf in accordance with the regulatory legal acts of the National Bank.

2) Acquisition of the right of claim from third parties for the fulfillment of obligations in monetary form (factoring) cannot be permitted within the framework of an "Islamic window" and for an MCC carrying out operations in accordance with Islamic principles of banking and financing.

Note: According to Sharia standards, trading in debt obligations is prohibited due to the fact that they contain elements of riba (interest rate).";

16) In subparagraph 1 of paragraph 78, the figure ", 9" shall be excluded;

17) Paragraph 82 shall be stated in the following wording:

"82. If the MCC fulfills the requirements established by this Regulation, the National Bank shall issue to the MCC a license for the right to additionally carry out banking operations provided for by paragraph 77 of this Regulation (Appendix 8).

The period for consideration of documents may be extended by 10 (ten) working days by the deputy chairman/member of the Board of the National Bank supervising issues of supervision and licensing.";

18) Paragraphs 88 and 89 shall be stated in the following wording:

"88. An MCC/MCA may be liquidated by decision of its founders (participants, shareholders) in accordance with the legislation of the Kyrgyz Republic.

Adoption of a decision on voluntary liquidation is not allowed if the MCC/MCA has not fulfilled all obligations to creditors, including to financial and credit organizations, except in cases of submission to the National Bank of a notarized consent of creditors to the voluntary liquidation of the MCC/MCA.";

19) The third paragraph of paragraph 91 shall be recognized as having lost force;

20) Supplement with paragraphs 91-1, 91-2 and 91-3 of the following content:

"91-1. Upon termination of the activity of a legal entity as an MCC/MCA in accordance with a decision of the authorized management body, the MCC/MCA intending to continue activity as a legal entity without carrying out microfinance activity shall terminate the carrying out of operations provided for by the permitting documents of the National Bank and obtain the consent of the National Bank to undergo state re-registration in connection with a change of name consisting in the exclusion of the words "microcredit company"/"microcredit agency, MCC/MCA" from the name, with the introduction of corresponding changes to the constituent documents.

91-2. To obtain the consent of the National Bank to undergo state re-registration in connection with a change of name consisting in the exclusion of the words "microcredit company"/"microcredit agency, MCC/MCA" from the name, the MCC/MCA shall, within 10 (ten) working days from the date of adoption of the decision, provide:

1) an application on making changes and/or additions to the constituent documents (Appendix 6);

2) the original copy and a copy certified by the seal of the MCC/MCA of the decision of the authorized management body of the MCC/MCA:

a) on changing the name;

b) on making changes to the constituent documents providing for the exclusion from the constituent documents of provisions on the provision of microfinance services;

c) on surrendering the permitting document of the National Bank;

3) the original copy of the constituent agreement and/or charter in a new wording, as well as their copies certified by the seal of the MCC/MCA, with the changes made;

4) the original copy of the certificate and/or license (if any) of the National Bank.

91-3. If the documents specified in paragraph 91-2 of this Regulation are complete and correct, the National Bank shall issue a letter of consent for the MCC/MCA to undergo state re-registration with the attachment of the original copies of the documents specified in subparagraphs 2 and 3 of paragraph 91-2 of this Regulation.".

21) Appendix 1 to the Regulation shall be stated in the following wording:

"Appendix 1

to the Regulation on the creation and activity of microcredit companies and microcredit agencies

NATIONAL BANK

OF THE KYRGYZ REPUBLIC

APPLICATION

I request the issuance of a certificate of registration of a microcredit company/microcredit agency; a microcredit company/microcredit agency intending to carry out operations in accordance with Islamic principles of banking and financing; a microcredit company/microcredit agency intending to carry out operations in accordance with Islamic principles of banking and financing within the framework of an "Islamic window"

(full name and legal address)

Information about the founders:

List of senior officials (full name of the chairman and members of the board of directors, chairman and members of the Sharia Council, head of the division/employee for financing in accordance with Islamic principles of banking and financing, head of the credit division (if the said bodies or officials exist), head(s), chief accountant):

Signature of the head Full name

"" ______ 20";

22) Appendix 8 to the Regulation shall be stated in the following wording:

"Appendix 8

to the Regulation on the creation and activity of microcredit companies and microcredit agencies

NATIONAL BANK

OF THE KYRGYZ REPUBLIC

LICENSE No. _______

(full name of the microcredit company)

(short name)

created for the purpose of carrying out accessible microfinance services to assist in overcoming poverty, increasing the level of employment, promoting the development of entrepreneurship and social mobilization of the population of the Kyrgyz Republic, in accordance with the Law "On Microfinance Organizations in the Kyrgyz Republic" has the right to carry out the operations listed below:

______;

-______;

-______

This license enters into force from the moment of its signing.

This license grants the right to carry out operations expressly specified in the license.

The license is non-transferable (registered). The rights arising from this license are not subject to transfer to third parties.

The license is registered on "_" ______ 20.

Seal

Head of the department /

head of the regional department /

director of the representative office

of the National Bank ______ ______

(signature) (full name of the official)";

23) Appendices 9 and 10 to the Regulation shall be recognized as having lost force.

24) Appendix 11 to the Regulation shall be stated in the following wording:

"Appendix 11

to the Regulation on the creation and activity of microcredit companies and microcredit agencies

Consent of the personal data subject

to the collection and processing of his/her personal data

Locality ______ date "___" ____20.

I, ______

(last name, first name, patronymic)

residing at the address: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______

(date of issue, by whom issued)

For authorized persons

acting on behalf of

(last name, first name, patronymic)

residing at the address: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______ (date of issue, by whom issued)

on the basis of ______

(power of attorney, law, other legal act)

freely, consciously, of my own will give full and unconditional consent to the National Bank of the Kyrgyz Republic:

for the processing (any operation or set of operations performed regardless of the methods by the National Bank or on its behalf, by automated means or without such, for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as for:
transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic "On Personal Information" and international treaties);
cross-border transfer of personal data (transfer by the National Bank of personal data to holders located under the jurisdiction of other states) of all personal data provided by me in accordance with the banking legislation of the Kyrgyz Republic.

The above consent applies, among other things, to the following personal data: last name, first name and patronymic (previous last name, first name, patronymic, date, place and reason for change (in case of change); date and place of birth; information about citizenship (including previous citizenship, other citizenships); information about education (name and year of graduation of the educational organization, name and details of the education document, qualification, field of study or specialty according to the education document); information about the presence of an academic degree; information about knowledge of foreign languages, level of proficiency; address of place of residence (place of stay); contact telephone number or information about other means of communication; type, series, number of the identity document, name of the issuing authority, date of issue; taxpayer identification number; marital status, composition of family and close relatives; information about labor activity (including military service, part-time work, entrepreneurial activity, activity on the basis of service contracts, etc.); state awards, other awards and insignia (by whom awarded and when); information about the presence or absence of a criminal record, including information about applied measures of disciplinary, administrative liability and liability for committing misconduct and violations; information about income, expenses, property and property-related obligations; personal photograph).

I provide the above personal data for processing for the purposes of the National Bank carrying out procedures for the issuance of permitting documents (including determining the compliance of officials with minimum qualification requirements, expansion of MCC activity, issuance of consent to state registration (re-registration)) provided for by the banking legislation of the Kyrgyz Republic.

I hereby confirm that I have been notified of the transfer of my personal data to other state bodies, credit bureaus and foreign bodies of banking and financial supervision and regulation for verification of their accuracy and for identifying information on issues of impeccable business reputation and qualifications, including consciously and unconditionally confirming that I do not require subsequent notification of me in accordance with Article 24 of the Law of the Kyrgyz Republic "On Personal Information" and paragraph 12 of the Procedure for obtaining the consent of the personal data subject to the collection and processing of his/her personal data, the procedure and forms of notification of personal data subjects on the transfer of their personal data to a third party, approved by the Resolution of the Government of the Kyrgyz Republic of November 21, 2017 No. 759, when the National Bank transfers my personal data to the above persons within the framework of the implementation of supervision and licensing procedures.

Consent to the processing of personal data is indefinite (valid permanently for the purposes of supervision and issuance of permitting documents) and is valid from the date of signing this consent.

"_" ______ 20.

Signature Full name".

To introduce into the Resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On licensing of credit unions'" of December 23, 2015 No. 78/25 the following changes:

in the Regulation "On licensing of credit unions" approved by the above resolution:

1) in paragraph 33 and Appendix 8 to the Regulation, the words "card-hasan" shall be replaced by the word "card";

2) supplement with paragraph 10-1 of the following content:

"10-1. Together with the submission of the documents provided for by this Regulation, credit unions, individuals and legal entities must provide consent to the collection and processing of personal data in accordance with Appendix 10 to this Regulation in respect of persons whose personal data are submitted to the National Bank.";

3) paragraph 13 shall be stated in the following wording:

"13. In case of submission to the National Bank of the documents established by this Regulation, or requested in accordance with paragraph 17-1 of this Regulation, not in full or if the documents do not comply with the requirements established by the legislation of the Kyrgyz Republic and this Regulation, the National Bank, within the period allotted for consideration of documents in accordance with the requirements of this Regulation, may return the documents for revision with a written statement of the reasons for return.";

4) paragraph 17 shall be stated in the following wording:

"17. To obtain a license, a credit union shall submit to the National Bank at the place of its location the following documents:

1) an application on the issuance of a license (Appendix 2);

2) the minutes of the general meeting of participants of the credit union (in two copies), containing decisions:

a) on the creation of the credit union;

b) on the election/appointment of the chairmen of the management board, supervisory board (if any), credit committee, audit commission;

c) on the election of the chairman and members of the Shariah Council (if the credit union intends to carry out activities in accordance with Islamic principles of banking and financing);

d) on approval of the credit policy/financing policy in accordance with Islamic principles of banking and financing;

e) on other matters in accordance with the legislation of the Kyrgyz Republic;

3) the founding agreement on the establishment of the credit union (in two copies);

4) the charter of the credit union approved by the general meeting of participants (in two copies);

5) questionnaires of officials (chairman of the management board, chairman of the supervisory board (if any), (if the credit union intends to carry out activities in accordance with Islamic principles of banking and financing, questionnaires of the chairman and members of the Shariah Council are also submitted) in the form and according to the requirements established in Appendix 3, as well as information and documents confirming their compliance with the minimum qualification requirements established by this Regulation and the regulatory legal acts of the National Bank (certificates and/or other similar documents, copies of the diploma, if necessary – copies of the employment record book);

6) credit policy/financing policy in accordance with Islamic principles of banking and financing (lending/financing guidelines) approved by the general meeting of participants, developed in accordance with the regulatory legal acts of the National Bank and including the following:

rules and procedure for the borrower to submit documents to obtain a credit/financing;
conditions and rules for granting a credit/financing;
functions and powers of the credit committee/financing committee;
rules for creating a reserve to cover potential losses and damages on credit operations/financing operations;
procedure for monitoring credits/financing;

7) forecast calculations with the presentation of a forecast balance sheet by volume of attracted savings shares, volume of credits/financing and number of participants of the credit union;

8) copies of passports of participants of the credit union and officials specified in subparagraph 6 of this paragraph;

9) information about participants of the credit union – legal entities (copies of founding documents certified by the seal of this legal entity);

10) information about the general organizational structure of the credit union (management bodies, structural subdivisions (departments, divisions), their functional responsibilities, the range of issues considered or the list of operations they are authorized to perform, subordination);

11) a lease agreement for premises or a document establishing the credit union's ownership right to the occupied premises (a copy certified by the seal of the credit union).

In the founding documents specified in subparagraphs 2 and 3 of this paragraph, the signatures of founders – individuals must be notarized, the signature of the authorized person who is a representative of a participant – legal entity must be affixed with the seal of the legal entity.»;

5) add paragraph 17-1 as follows:

«17-1. Within the framework of licensing procedures, approval of officials, issuance of consent for state registration (re-registration), the National Bank, if it considers that the information submitted is insufficient for making a decision, may request additional information and documents necessary for the licensing procedures, approval of officials, issuance of consent for state registration (re-registration), which must be submitted by the applicants within the time limits specified in the request.»;

6) in paragraph 20, after the words «are the chairman» exclude the words «and members»;

7) restate paragraph 21 as follows:

«21. The officials of the credit union specified in paragraph 20 of this Regulation must meet the following minimum qualification requirements:

1) for the chairman of the Management Board, chairman of the supervisory board (if any):

possession of a higher education (preferably in economics) or 3 (three) years of experience in managerial positions (in the presence of a secondary specialized economic education);
possession of knowledge of the legislation of the Kyrgyz Republic, including regulatory legal acts of the National Bank regulating the activities of credit unions, as well as in the field of asset and liability management, lending and foreclosure of collateral. Knowledge in these areas must be confirmed by relevant certificates and/or other documents on training in these areas, in the absence of work experience in these areas of at least 1 (one) year.

The chairman of a credit union carrying out operations in accordance with Islamic principles of banking and financing, in addition to the requirements established by this paragraph, must possess knowledge in the field of Islamic principles of banking and financing and the legislation of the Kyrgyz Republic (including regulatory legal acts of the National Bank) in this area. Knowledge in these areas must be confirmed by relevant certificates and/or other documents on training in these areas.

2) for the chairman of the Shariah Council:

possession of a diploma of higher education in the field of Shariah in the direction of law and/or financial activity, or possession of a diploma of higher education and work experience of at least 1 (one) year in a managerial position in a financial and credit organization carrying out operations in accordance with Islamic principles of banking and financing, including through an «Islamic window»;
possession of knowledge in the field of banking legislation on Islamic principles of banking and financing, including the main regulatory legal acts of the National Bank. Knowledge in this area must be confirmed by a relevant certificate and/or other documents on training in this area.

3) for members of the Shariah Council:

possession of a diploma of higher education;
possession of knowledge in the field of banking legislation on Islamic principles of banking and financing, including the main regulatory legal acts of the National Bank;
possession of knowledge in the field of Islamic principles of banking and financing.

Knowledge in these areas must be confirmed by relevant certificates and/or other documents on training in this area.

4) for the chief accountant:

possession of a higher education in the field of economics and finance or 1 (one) year of work experience in the field of accounting (in the presence of a secondary professional education in the field of economics and finance, including successful passing of an accounting exam);
possession of knowledge of the fundamentals of International Accounting and Reporting Standards, confirmed by a certificate and/or other documents on training in this area (for credit unions carrying out additional banking operations provided for by the Law of the Kyrgyz Republic «On Credit Unions»).

The chief accountant of a credit union carrying out operations in accordance with Islamic principles of banking and financing, in addition to the requirements of this subparagraph, must possess knowledge of the standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), confirmed by a relevant certificate and/or other documents on training in this area.»;

8) add paragraph 23-1 as follows:

«23-1. In case of non-compliance of a candidate for the positions specified in paragraph 20 of this Regulation, the said person shall be dismissed from the position within 10 (ten) working days from the moment of receipt of the notification letter from the National Bank.»;

9) restate paragraph 24 as follows:

«24. The officials of the credit union specified in paragraph 20 of this Regulation cannot be persons if:

1) they do not meet the requirements of parts 1 and 2 of article 18-1 of the Law «On Credit Unions»;

2) they do not meet the minimum requirements established by this Regulation and the regulatory legal acts of the National Bank;

3) there is a court decision prohibiting the candidate from engaging in this type of activity and/or recognizing the candidate guilty of committing a crime in the economic sphere and/or official crimes;

4) there is a decision, conclusion, or inspection materials of state bodies of the Kyrgyz Republic indicating improper business reputation of the candidate;

5) there is a previously adopted decision of the National Bank on the removal and replacement of the candidate within the framework of enforcement measures applied by the National Bank to financial and credit organizations;

6) there is a decision of the National Bank recognizing the candidate guilty of violating legislation, which resulted in the revocation of a license/certificate and/or led to the insolvency of the financial and credit organization.

7) if, according to the assessment of the National Bank, the appointment to a position in a credit union of a candidate holding a position in financial and credit organizations or organizations operating in competing markets may lead to a conflict of interest.

When assessing a conflict of interest, the National Bank takes into account:

potential risks with respect to the safety of the population's deposits;
potential risks with respect to the stability of organizations with state participation;
potential risks with respect to the stability of financial and credit organizations having debt to the state or under state guarantees;
opinions of the organizations in which the candidate works;

8) the candidate has not submitted the documents requested by the National Bank within the framework of determining the candidate's compliance for the position within 10 (ten) working days from the date of receipt of the request (electronic version of the request).»;

10) add paragraph 24-1 as follows:

«24-1. A candidate does not have the right to occupy positions in a credit union specified in paragraph 20 of this Regulation if there are facts specified:

in subparagraph 3 of paragraph 24 of this Regulation – during the period specified in the court decision, in the absence of a period in the court decision – within 4 (four) years from the date of expungement of the criminal record;
in subparagraph 4 of paragraph 24 of this Regulation – within 4 (four) years from the date of adoption of the decision determining the fact that the candidate committed actions (inaction) indicating improper business reputation of the candidate;
in subparagraphs 5 and 6 of paragraph 24 of this Regulation – within 4 (four) years from the date of adoption of the decision of the National Bank.»;

11) add paragraph 28-1 as follows:

«28-1. Decisions on issuance/refusal to issue a license are made by a member of the Management Board of the National Bank supervising issues of supervision and licensing of credit unions (in regional departments and the representative office – by the head of the regional department/director of the representative office).»;

12) add paragraph 63-1 as follows:

«63-1. The credit union, within 10 (ten) working days from the moment of changes in telephone numbers, fax and email address, is obliged to notify the National Bank of such changes.»;

13) add paragraph 66-1 as follows:

«66-1. Members of the Shariah Council may be members of the Shariah Council of one commercial bank and two non-bank financial and credit organizations.»;

14) in subparagraph 8 of paragraph 70, exclude the words «and one of the members»;

15) restate paragraph 80 as follows:

«80. It is not allowed to adopt a decision on voluntary liquidation if the credit union has not fulfilled all obligations to creditors, including to financial and credit organizations, except in cases of submission to the National Bank of notarized consent of creditors to the voluntary liquidation of the credit union.»;

16) In appendices 5, 6, 7 and 8 to the Regulation, replace the words «Person authorized by order of the Chairman of the National Bank (Head/Director of the regional department/representative office of the National Bank)» with the words «Head of the department / head of the regional department / director of the representative office of the National Bank»;

17) add Appendix 10 to the Regulation as follows:

«Appendix 10

to the Regulation «On Licensing

of Credit Unions»

Consent of the personal data subject

to the collection and processing of his/her personal data

Locality ______ date «___» ____20.

I, ______

(last name, first name, patronymic)

residing at the address:______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______

(date of issue, by whom issued)

For authorized persons

acting on behalf of

(last name, first name, patronymic)

residing at the address: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by______ (date of issue, by whom issued)

on the basis of ______

(power of attorney, law, other legal act)

freely, consciously, of my own will give full and unconditional consent to the National Bank of the Kyrgyz Republic:

to the processing (any operation or set of operations performed regardless of methods, by the National Bank or on its behalf, by automated means or without such, for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as to:
transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic «On Personal Information» and international treaties);
cross-border transfer of personal data (transfer by the National Bank of personal data to holders located under the jurisdiction of other states) of all personal data provided by me in accordance with banking legislation.

The above consent applies, among other things, to the following personal data: last name, first name and patronymic (previous last name, first name, patronymic, date, place and reason of change (in case of change); date and place of birth; information on citizenship (including previous citizenship, other citizenships); information on education (name and year of graduation of the educational organization, name and details of the document on education, qualification, direction of training or specialty according to the document on education); information on the presence of an academic degree; information on knowledge of foreign languages, level of proficiency; address of residence (place of stay); contact phone number or information about other means of communication; type, series, number of the identity document, name of the body that issued it, date of issue; taxpayer identification number; marital status, composition of family and close relatives; information on labor activity (including military service, part-time work, entrepreneurial activity, activity on the basis of service agreements, etc.); state awards, other awards and insignia (by whom awarded and when); information on the presence or absence of a criminal record, including on applied measures of disciplinary, administrative liability and liability for committing offenses and violations; information on income, expenses, property and property obligations; personal photograph).

I provide the above personal data for processing for the purposes of the National Bank carrying out licensing procedures (including approval of officials, issuance of consent for state registration (re-registration), expansion of the activity of the credit union), provided for by banking legislation.

I hereby confirm that I have been notified of the transfer of my personal data to other state bodies, credit bureaus and foreign bodies of banking and financial supervision and regulation for verifying their accuracy and for identifying information on issues of impeccable business reputation and qualifications, including consciously and unconditionally confirm that I do not require subsequent notification to me in accordance with article 24 of the Law of the Kyrgyz Republic «On Personal Information» and paragraph 12 of the Procedure for obtaining the consent of the personal data subject to the collection and processing of his/her personal data, the procedure and forms of notification of personal data subjects about the transfer of their personal data to a third party, approved by the resolution of the Government of the Kyrgyz Republic of 21 November 2017 No. 759, when the National Bank transfers my personal data to the above persons within the framework of supervision and licensing procedures.

Consent to the processing of personal data is indefinite (valid permanently for the purposes of supervision and licensing) and is valid from the date of signing this consent.

«_» ______ 20.

Signature Full name».

Introduce the following changes to the resolution of the Management Board of the National Bank of the Kyrgyz Republic «On approval of the Regulation «On licensing of the activity of microfinance companies» of 23 December 2015 No. 78/26:

in the Regulation «On licensing of the activity of microfinance companies» approved by the above resolution:

1) in paragraphs 7 and 9, replace the words «Card-Hasan» with the word «qard»;

2) in paragraph 9, replace the words «sharika/musharaka muntahiya bittamlik» with the words «diminishing musharaka»;

3) restate subparagraph 3 of paragraph 8 as follows:

«3) acquisition of the right to claim from third parties the performance of obligations in monetary form (factoring);»;

4) add paragraphs 15-1 and 15-2 as follows:

«15-1. Within the framework of issuing a license (removing a restriction in a license), expanding the activity of an MFC, confirming the sources of origin of funds, approving officials, issuing consent for state registration (re-registration), the National Bank, if it considers that the information submitted is insufficient for making a decision, may request additional information and documents necessary for the licensing procedures, approval of officials, issuance of consent for state registration (re-registration), which must be submitted by the applicants within the time limits specified in the request.

15-2. Along with the submission of the documents provided for by this Regulation, MFCs, individuals and legal entities must provide consent to the collection and processing of personal data in accordance with Appendix 16 to this Regulation in respect of persons whose personal data are provided to the National Bank.»;

5) add paragraph 19-1 as follows:

«19-1. The MFC, within 10 (ten) working days from the moment of changes in telephone numbers, fax and email address, is obliged to notify the National Bank of such changes.»;

6) restate subparagraph 2 of paragraph 27 as follows:

«2) possession of knowledge of legislation regulating the activity of microfinance organizations, banking legislation and corporate governance, confirmed by a certificate or other document on training in this area obtained in organizations having the appropriate permit/license of the authorized state body in the field of education;»;

7) add paragraph 28-1 as follows:

«28-1. Members of the Shariah Council may be members of the Shariah Council of one commercial bank and two non-bank financial and credit organizations.»;

8) restate paragraph 31 as follows:

«31. Candidates for the positions of chairman and members of the Management Board, chief accountant, heads of structural subdivisions must meet the following requirements:

1) possession of a higher education;

2) possession of work experience:

a) chairman of the Management Board of an MFC – at least 3 (three) years of experience in the banking and/or financial system, including in managerial positions – at least 1 (one) year.

For the purposes of this paragraph, a managerial position means a position not lower than the head of a structural subdivision of a financial and credit organization and/or a company whose activity falls under paragraph 21 of this Regulation, and/or an organization in the field of regulation of financial services. At the same time, the work experience does not include work in subdivisions of the above organizations/companies related to the conduct of economic activity.

b) members of the Management Board – at least 2 (two) years of experience in the banking and/or financial system;

c) chief accountant, heads of structural subdivisions – at least 1 (one) year in the banking and/or financial system, in a similar position to which the candidate is appointed (accountant, compliance officer, head of the credit subdivision, head of the subdivision for financing in accordance with Islamic principles of banking and financing / «Islamic window», head of the subdivision responsible for asset and liability management, head of the internal audit service, respectively);

3) possession of knowledge in the field of legislation regulating the activity of banks and microfinance organizations, risk management and corporate governance, confirmed by a certificate or other document on training in this area obtained in organizations having the appropriate permit/license of the authorized state body in the field of education.

One of the members of the Management Board of an MFC having an «Islamic window», and members of the Management Board of an MFC carrying out operations in accordance with Islamic principles of banking and financing, the head of the «Islamic window» and the subdivision for financing in accordance with Islamic principles of banking and financing, must have certificates and/or other documents in the field of Islamic principles of banking and financing.

The work experience of the candidate is confirmed by a copy of the employment record book or other documents.»;

9) restate the first paragraph of paragraph 32 as follows:

«A candidate for the position of chief accountant, in addition to the requirements of paragraph 31 of this Regulation, must have a certificate confirming that he/she has knowledge of International Accounting and Financial Reporting Standards, obtained in organizations having the appropriate permit/license of the authorized state body in the field of education.»;

10) restate the first paragraph of paragraph 33 as follows:

«A candidate for the position of head of the internal audit service, in addition to the requirements of paragraph 31 of this Regulation, must have certificates in the field of International Standards on Auditing and Financial Reporting, obtained in organizations having the appropriate permit/license of the authorized state body in the field of education.»;

11) restate paragraph 35 as follows:

"35. The head of the structural subdivision responsible for internal organizational measures to counter the financing of terrorist activities and the legalization (laundering) of criminal proceeds (compliance officer), in addition to the requirements of paragraph 31 of this Regulation, must hold a certificate of completion of training in the area of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds, obtained from organizations that have the corresponding authorization/licence from the authorized state body in the field of education.";

12) paragraph 37 shall be supplemented with paragraphs of the following content:

"Chairmen of the board of directors, the Shariah Council and the Management Board, re-elected/appointed for a new term in the same MFC to the position of member of the board of directors, the Shariah Council and the Management Board (respectively), shall not undergo approval by the National Bank.

In this case, within 5 (five) working days from the day of re-election, a notification of the re-election/appointment must be sent to the National Bank.";

13) paragraphs 43 and 43-1 shall be stated in the following wording:

"43. The National Bank has the right to refuse approval of candidates for the positions specified in paragraph 25 of this Regulation if:

1) there is a court decision in respect of the candidate prohibiting him from working in the financial and credit system;

2) the person has an unexpunged and unspent conviction for committing crimes against property, the procedure for carrying out economic activity and/or for corruption and other crimes against the interests of the state and municipal service;

3) the candidates previously were officials in a bank and/or another financial and credit organization licensed (regulated) by the National Bank, and there are decisions of the Supervisory Committee of the National Bank, instructions or other acts of the National Bank recognizing them as involved in actions (inaction) as a result of which the licence (certificate) of the bank and/or another financial and credit organization was revoked;

4) the candidates do not comply with the requirements of the law "On Microfinance Organizations in the Kyrgyz Republic" and this Regulation.

5) there is a conclusion, decision or other acts of the National Bank (decision of the Supervisory Committee of the National Bank, instructions, inspection reports, etc.) recognizing that the candidate:

a) is involved in actions (inaction) as a result of which a temporary administration regime was introduced in the bank/financial and credit organization;

b) is involved in actions classified as unsound and/or unsafe banking practice;

c) committed violations of the legislation of the Kyrgyz Republic and other unlawful actions in the sphere of financial, economic and/or business activity;

6) there are materials of inspections by regulatory bodies indicating the emergence of financial and/or administrative problems in the areas for whose activity the candidate was responsible;

7) negative results of an interview, where it is indicated that the candidate does not possess sufficient knowledge in the area where he intends to work;

8) failure of the candidate to appear for an interview more than 2 times without valid reasons (illness, being on a business trip in remote regions, absence from the country, etc.);

9) if, in the assessment of the National Bank, the appointment to a position in an MFC of a candidate holding a position in financial and credit organizations or organizations carrying out activity in competing markets may lead to a conflict of interests.

When assessing a conflict of interests, the National Bank takes into account:

potential risks in relation to the safety of the population's deposits;
potential risks in relation to the stability of organizations with state participation;
potential risks in relation to the stability of financial and credit organizations having debt to the state or under state guarantees;
opinions of the organizations in which the candidate works;

10) the candidate did not submit the documents requested by the National Bank within the framework of approval of the candidate for the position within 10 (ten) working days from the day of receipt of the request (electronic version of the request);

11) the candidate is considered as not having or having lost an impeccable business reputation, in accordance with banking legislation.

43-1. A candidate does not have the right to occupy in an MFC the positions specified in paragraph 25 of this Regulation if there are facts indicated:

in subparagraph 2 of paragraph 43 of this Regulation - within 7 (seven) years from the day of expungement or spending of the conviction;
in subparagraph 3 and the third paragraph ("b") of subparagraph 5 of paragraph 43 of this Regulation - within five years from the day of entry into force of the corresponding decision;
in the second paragraph ("a") of subparagraph 5 of paragraph 43 of this Regulation – within 7 (seven) years from the day of adoption of the decision on the existence of a fact of violation;
in the fourth paragraph ("c") of subparagraph 5 of paragraph 43 of this Regulation – within 3 (three) years from the day of adoption of the decision on the existence of a fact of violation;
in subparagraph 6 of paragraph 43 of this Regulation – within 3 (three) years from the day of registration by regulatory bodies of official documents based on the results of inspections indicating violations;
in subparagraph 11 of paragraph 43 of this Regulation – within 5 (five) years from the day of adoption of a decision determining the fact that the candidate committed actions (inaction) indicating the candidate's improper business reputation.";

14) shall be supplemented with paragraph 43-2 of the following content:

"43-2. In the event of the National Bank's refusal to approve an official of an MFC, the said person shall be dismissed from the position within 10 (ten) working days from the moment of receipt of the National Bank's letter on refusal of approval.";

15) paragraphs 98 and 99 shall be stated in the following wording:

"98. Change of name of an MFC:

1) A change of name of an MFC is subject to preliminary approval by the National Bank. When the name of an MFC is changed, its licence (additional licence) is subject to replacement (re-issuance).

For approval of the new name, the following must be submitted to the National Bank:

an application for change of the name of the MFC with the proposed full and abbreviated name containing its organizational-legal form;
confirmation from the authorized state body carrying out registration of legal entities that the claimed name is absent in the Unified State Register of Legal Entities, as well as confirmation from the authorized state body carrying out state regulation in the field of protection of the firm name that the name is absent in the state register of firm names.

The National Bank, within 1 (one) month, adopts a decision and sends to the MFC a response on the results of approval of the proposed new name of the MFC.

2) In the event of approval of the new name of the MFC by the National Bank, the shareholders of the MFC adopt a decision to change its name at the general meeting of shareholders and to make the corresponding changes to the charter of the MFC.

3) Within 10 (ten) working days after adoption of the decision of the general meeting of shareholders, the MFC submits to the National Bank at its location the following documents:

a petition for consideration of the changes made to the charter in connection with the renaming of the MFC, signed by the head of the MFC;
the decision of the shareholder (in the case of a single shareholder) or the minutes of the meeting of the general meeting of shareholders of the MFC on making changes to the charter in connection with the change of name of the MFC and a copy of such decision or minutes (a copy certified by the seal of the MFC);
the new wording of the charter and its copy (certified by the seal of the MFC).

The National Bank, within 15 (fifteen) working days, issues to the MFC consent for state re-registration in connection with the change of name, attaching the original copies of the submitted constituent documents provided for in the third and fourth paragraphs of this subparagraph.

4) The MFC, within 10 (ten) working days from the day of state re-registration, is obliged to submit to the National Bank at its location the following documents:

an application for re-issuance of the licence (additional licence);
a copy of the certificate of state re-registration of the MFC, certified by the seal of the MFC;
a copy of the charter with a note on state re-registration, certified by the seal of the MFC;
a document confirming payment of the state fee for issuance of the licence (additional licence) in the amount established by the legislation of the Kyrgyz Republic;
the original copy of the issued licence (additional licence).

Change of location of an MFC:

1) A change of location of an MFC entailing state re-registration shall be approved in accordance with paragraphs 93-95 of this Regulation.

After passing state re-registration, the MFC, within 10 (ten) working days from the day of state re-registration, shall submit to the National Bank the documents specified in subparagraph 4 of paragraph 98 of this Regulation for re-issuance of the licence (additional licence).

2) In the event of a change of location of an MFC not entailing state re-registration, within 10 (ten) working days from the day of adoption by the authorized management body of the MFC of the corresponding decision, the MFC, in addition to the documents specified in subparagraphs 4-5 of paragraph 93 of this Regulation, is obliged to submit to the National Bank the following documents:

an application for re-issuance of the licence (additional licence);
copies of the decision of the authorized management body of the MFC on re-issuance of the licence (additional licence), certified by the seal of the MFC;
copies of the confirming notification of the MFC sent to the authorized state body carrying out registration of legal entities, certified by the seal of the MFC;
the original copy of the previously issued licence (additional licence) of the MFC.";

16) shall be supplemented with paragraphs 99-1 and 99-2 of the following content:

"99-1. In the event of completeness of the submitted documents and their compliance with the requirements of legislation, the National Bank replaces the MFC's licence with an explanatory inscription on the re-issuance of the licence (additional licence) in connection with the change of location and/or name and enters a record of the changes in the register.

99-2. Within 2 (two) working days after re-issuance of the licence, the MFC must publish in the mass media information on the change of location and/or name.";

17) paragraph 123 shall be stated in the following wording:

"123. In order to acquire in aggregate 5 (five) or more percent of the shares of an MFC, a legal or natural person must obtain preliminary permission from the National Bank.";

18) paragraph 124 shall be stated in the following wording:

"124. Any natural or legal person wishing to acquire in aggregate 5 (five) or more percent of the shares of an MFC is obliged, 30 (thirty) days before the intended date of acquisition of the shares, to submit to the National Bank the following documents:

an application for acquisition in aggregate of 5 (five) or more percent of the shares with an attached questionnaire in the form according to appendices 13 (for natural persons) or 13-1 (for legal entities) to this Regulation;
the original of the decision of the authorized body of the legal entity on acquisition of the shares of the MFC;
documents confirming that the legal entity complies with the criteria specified in Appendix 14 to this Regulation, if the legal entity, corresponding to part 1 of article 13 of the Law of the Kyrgyz Republic "On Microfinance Organizations in the Kyrgyz Republic", intends to acquire in aggregate 20 (twenty) or more percent of the shares of the MFC;
copies of the constituent documents of the legal entity;
information on the founders/participants/shareholders and officials of the legal entity;
information and documents confirming the sources of origin of the monetary funds directed to the acquisition of the shares of the MFC;
documents confirming the stable financial condition of the applicant.

Stable financial condition of the applicant person means:

absence of outstanding debt to the budget and tax bodies of the Kyrgyz Republic as at the date of submission of the application;
absence of overdue obligations to natural and legal persons as at the date of submission of the application;
profitable activity during the last 2 (two) years of activity preceding the date of submission of the application (for legal entities).

Natural persons who have committed violations of the legislation regulating the banking and/or financial spheres, including normative legal acts of the National Bank, in respect of whom the National Bank has adopted a decision recognizing them as involved in actions classified as unsound banking or financial practice, may not obtain the National Bank's permission to acquire in aggregate 5 (five) or more percent of the voting shares of an MFC.";

19) paragraph 138 shall be stated in the following wording:

"138. A CS converted into an MFC may obtain an additional licence for the right to attract deposits (deposits) within 2 (two) years from the day of obtaining the MFC licence, in the event of carrying out activity of accepting deposits for 2 (two) years before submission of the petition for conversion into an MFC on the basis of a licence issued by the National Bank.";

20) subparagraph 2 of paragraph 140 shall be stated in the following wording:

"2) failure to submit in full the documents provided for by this Regulation or requested by the National Bank in accordance with paragraph 15-1 of this Regulation, within 10 (ten) working days from the day of receipt of the request (electronic version of the request). When the said obstacles are eliminated, the documents are considered on general grounds;";

21) paragraph 144 shall be stated in the following wording:

"144. Adoption of a decision on voluntary liquidation is not permitted if the MFC has not fulfilled all obligations to depositors and creditors, including to financial and credit organizations, except in cases of submission to the National Bank of notarized consent of depositors and creditors to voluntary liquidation of the MFC.";

22) in paragraph 145, the words "of the National Bank of the Kyrgyz Republic," shall be excluded;

23) Appendix 7 to the Regulation shall be stated in the following wording:

"Appendix 7

to the Regulation on Licensing of Microfinance Companies' Activity

NATIONAL BANK

OF THE KYRGYZ REPUBLIC

LICENCE No. ______

of a microfinance company for the right to conduct individual banking operations in the national currency

"" ______ 20

Microfinance company "______" (full name), established for the purpose of carrying out accessible microfinance services to assist in overcoming poverty, increasing the level of employment, promoting the development of entrepreneurship and social mobilization of the population of the Kyrgyz Republic, in accordance with the Law of the Kyrgyz Republic "On Microfinance Organizations in the Kyrgyz Republic",

legal address of the MFC:

Abbreviated name: ______

This licence permits the conduct of the following individual banking operations:

1) issuance of secured and unsecured microcredits;

2) acceptance of fixed-term deposits from natural and legal persons on terms of repayability for the purpose of accumulating clients' savings;

3) acquisition of the right to claim from third parties the performance of obligations in monetary form (factoring);

4) provision of retail banking services under an agency agreement with a bank – without opening accounts for clients in the microfinance company;

5) issuance of guarantees in an amount not exceeding, in aggregate with the microcredit (leasing), the maximum amount norm of credit per borrower.

An integral part of this licence is the sheet of restrictions on the conduct of individual banking operations.

This licence enters into force from the moment of its signing.

This licence grants the right to carry out operations expressly stipulated in the licence.

The licence is non-transferable (registered). The rights arising from this licence are not subject to transfer to third parties.

Seal

Head of the department /

head of the regional department /

director of the representative office

of the National Bank ______ ______

(signature) (full name of the official)

SHEET OF RESTRICTIONS No. ______

"" ______ 20

to licence No. _____ issued on "" ______ 20

for the right to conduct individual banking operations in the national currency

Microfinance company

"______"

(full name)


Order number of the banking operation	Presence of restriction (yes/no)	Date from which the restriction applies	Note
1
2
3
4
5

Seal

Head of the department /

head of the regional department /

director of the representative office

of the National Bank ______ ______

(signature) (full name of the official)";

24) Appendix 8 to the Regulation shall be stated in the following wording:

"Appendix 8

to the Regulation on Licensing of Microfinance Companies' Activity

NATIONAL BANK

OF THE KYRGYZ REPUBLIC

LICENCE No. ______

of a microfinance company for the right to conduct individual banking operations in the national currency in accordance with the Islamic principles of banking and financing / for the right to conduct individual banking operations in the national currency in accordance with the Islamic principles of banking and financing within the framework of an "Islamic window"

"" ______ 20

legal address of the MFC:

Abbreviated name: ______

This licence permits the conduct of the following operations according to the Islamic principles of banking and financing in accordance with the legislation of the Kyrgyz Republic:

financing under transactions:

1) "mudaraba";

2) "sharika / musharaka" and "diminishing musharaka";

3) "murabaha";

4) "ijara" and "ijara muntahiyya bittamlik";

5) "qard" (only for the issuance of microfinancing);

6) "guarantees";

7) "salam";

acceptance of deposits from natural and legal persons under the "mudaraba" transaction for the purpose of accumulating clients' savings;
provision of retail banking services under an agency agreement with a bank – without opening accounts for clients in the microfinance company;
issuance of guarantees in an amount not exceeding, in aggregate with the microfinancing (leasing), the maximum amount norm of microfinancing per borrower.

An integral part of this licence is the sheet of restrictions on the conduct of individual banking operations.

This licence enters into force from the moment of its signing.

This licence grants the right to carry out operations expressly stipulated in the licence.

The licence is non-transferable (registered). The rights arising from this licence are not subject to transfer to third parties.

Seal

Head of the department /

head of the regional department /

director of the representative office

of the National Bank ______ ______

(signature) (full name of the official)"

SHEET OF RESTRICTIONS No. ______

"" ______ 20

to licence No. _______ issued on "_" ______ 20

for the right to conduct individual banking operations in the national currency in accordance with the Islamic principles of banking and financing/for the right to conduct individual banking operations in the national currency in accordance with the Islamic principles of banking and financing within the framework of an "Islamic window"

Microfinance company

"______"

(full name)


Order number of the banking operation	Presence of restriction (yes/no)	Date from which the restriction applies	Note
1
2
3
4
5

Seal

Head of the department /

head of the regional department /

director of the representative office

of the National Bank ______ ______

(signature) (full name of the official)";

25) Appendix 9 to the Regulation shall be stated in the following wording:

"Appendix 9

to the Regulation on Licensing of Microfinance Companies' Activity

NATIONAL BANK

OF THE KYRGYZ REPUBLIC

LICENCE No. ______

of a microfinance company for the right to conduct individual banking operations in foreign currency

"" ______ 20

legal address of the MFC:

Abbreviated name: ______

This licence permits the conduct of the following individual banking operations:

1) issuance of secured and unsecured microcredits;

2) acceptance of fixed-term deposits from natural and legal persons on terms of repayability for the purpose of accumulating clients' savings;

3) acquisition of the right to claim from third parties the performance of obligations in monetary form (factoring);

4) provision of retail banking services under an agency agreement with a bank – without opening accounts for clients in the microfinance company;

5) issuance of guarantees in an amount not exceeding, in aggregate with the microcredit (leasing), the maximum amount norm of credit per borrower.

An integral part of this licence is the sheet of restrictions on the conduct of individual banking operations.

This licence enters into force from the moment of its signing.

This licence grants the right to carry out operations expressly stipulated in the licence.

The license is non-transferable (personal). The rights arising from this license are not subject to transfer to third parties.

Seal

Head of the Department /

Head of the Regional Department /

Director of the Representative Office

of the National Bank ______ ______

(signature) (full name of the official)

SHEET OF RESTRICTIONS No. ______

"" ______ 20

to license No. _____ issued on "" ______ 20

for the right to conduct certain banking operations in foreign currency

Microfinance company

"______"

(full name)


Sequence number of the banking operation	Presence of restriction (yes/no)	Date from which the restriction applies	Note
1
2
3
4
5

Head of the Department /

Head of the Regional Department /

Director of the Representative Office

of the National Bank ______ ______

(signature) (full name of the official)";

26) Appendix 10 to the Regulation shall be stated in the following wording:

"Appendix 10

to the Regulation on Licensing of Microfinance Company Activities

NATIONAL BANK

OF THE KYRGYZ REPUBLIC

LICENSE No. ______

of the microfinance company

for the right to conduct certain banking operations in foreign currency in accordance with Islamic principles of banking and finance / for the right to conduct certain banking operations in foreign currency in accordance with Islamic principles of banking and finance within an "Islamic window"

"" ______ 20

Microfinance company "______" (full name), established for the purpose of providing accessible microfinance services to assist in overcoming poverty, increasing employment, promoting entrepreneurship and social mobilization of the population of the Kyrgyz Republic, in accordance with the Law of the Kyrgyz Republic "On Microfinance Organizations in the Kyrgyz Republic",

Legal address of the MFC:

Abbreviated name: ______

This license permits the conduct of the following operations in accordance with Islamic principles of banking and finance in accordance with the legislation of the Kyrgyz Republic:

financing under transactions:

1) "mudaraba";

2) "sharika / musharaka" and "diminishing musharaka";

3) "murabaha";

4) "ijara" and "ijara muntahiyya bittamlik";

5) "qard" (only for the issuance of microfinance);

6) "salam";

acceptance of deposits from individuals and legal entities under the "mudaraba" transaction for the purpose of accumulating client savings;
provision of retail banking services under an agency agreement with a bank – without opening client accounts with the microfinance company;
issuance of guarantees in an amount not exceeding, in aggregate with microfinance (leasing), the maximum amount of microfinance per borrower.

An integral part of this license is the sheet of restrictions on the conduct of certain banking operations.

This license enters into force from the moment of its signing.

This license grants the right to conduct operations expressly specified in the license.

The license is non-transferable (personal). The rights arising from this license are not subject to transfer to third parties.

Seal

Head of the Department /

Head of the Regional Department /

Director of the Representative Office

of the National Bank ______ ______

(signature) (full name of the official)"

SHEET OF RESTRICTIONS No. ______

"" ______ 20

to license No. _______ issued on "_" ______ 20

Microfinance company

"______"

(full name)


Sequence number of the banking operation	Presence of restriction (yes/no)	Date from which the restriction applies	Note
1
2
3
4
5

Seal

Head of the Department /

Head of the Regional Department /

Director of the Representative Office

of the National Bank ______ ______

(signature) (full name of the official)";

27) paragraphs 2 and 3 of Appendix 14 to the Regulation shall be stated in the following wording:

"2. Foreign non-commercial organizations meeting the following conditions:

a) working and/or having worked as loan providers for the last five years on microfinance development projects of donor-country government organizations (for example, GTZ, TACIS, JICA, TICA), on the basis of intergovernmental agreements with the Government of the Kyrgyz Republic;

b) having at least three years of work experience;

c) providing assistance in supporting the economies of developing countries.

Legal entities engaged in banking (microfinance) and/or financial activities, meeting the following conditions:

a) sound financial condition and profitable activity during the previous two years;

b) having an above-average rating assigned by a rating agency registered with the Microfinance Rating and Assessment Fund – for legal entities engaged in banking activity;

c) having an external audit opinion for the last two years;

d) no restrictions on the activity of the financial and credit organization as a result of the application of measures of influence or other sanctions to it.";

28) Supplement with Appendix 16 to the Regulation as follows:

"Appendix 16

to the Regulation on Licensing of Microfinance Company Activities

Consent of the personal data subject

to the collection and processing of his personal data

Locality ______ date "___" ____20.

I, ______

(last name, first name, patronymic)

residing at: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______

(date of issue, by whom issued)

For authorized persons

acting on behalf of

(last name, first name, patronymic)

residing at: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______ (date of issue, by whom issued)

on the basis of ______

(power of attorney, law, other legal act)

freely, consciously, of my own will give full and unconditional consent to the National Bank of the Kyrgyz Republic:

to the processing (any operation or set of operations performed regardless of methods, by the National Bank or on its instruction, by automated means or without them for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as to:
the transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic "On Personal Information" and international treaties);
the cross-border transfer of personal data (transfer by the National Bank of personal data to holders located under the jurisdiction of other states) of all personal data provided by me in accordance with banking legislation.

The above consent extends, among other things, to the following personal data: last name, first name and patronymic (previous last name, first name, patronymic, date, place and reason for change (in case of change); date and place of birth; information on citizenship (including previous citizenship, other citizenships); information on education (name and year of graduation of the educational organization, name and details of the education document, qualification, area of training or specialty according to the education document); information on the presence of an academic degree; information on knowledge of foreign languages, level of proficiency; address of place of residence (place of stay); contact telephone number or information on other means of communication; type, series, number of the identity document, name of the issuing authority, date of issue; taxpayer identification number; marital status, composition of family and close relatives; information on labor activity (including military service, part-time work, entrepreneurial activity, activity on the basis of service contracts, etc.); state awards, other awards and insignia (by whom awarded and when); information on the presence or absence of a criminal record, including on applied measures of disciplinary, administrative liability and liability for committing offenses and violations; information on income, expenses, property and property obligations; personal photograph).

I provide the above personal data for processing for the purposes of the National Bank's implementation of licensing procedures (including approval of officials, issuance of consent for state registration (re-registration), acquisition of shares, expansion of the activity of the microfinance company), provided for by banking legislation.

I hereby confirm that I have been notified of the transfer of my personal data to other state bodies, credit bureaus and foreign banking and financial supervision and regulation bodies for verification of their accuracy and for identifying information on issues of impeccable business reputation and qualifications, including consciously and unconditionally confirm that I do not require subsequent notification of me in accordance with Article 24 of the Law of the Kyrgyz Republic "On Personal Information" and paragraph 12 of the Procedure for obtaining the consent of the personal data subject to the collection and processing of his personal data, the procedure and forms of notifying personal data subjects of the transfer of their personal data to a third party, approved by the Resolution of the Government of the Kyrgyz Republic of 21 November 2017 No. 759, when the National Bank transfers my personal data to the above persons within the framework of supervision and licensing procedures.

Consent to the processing of personal data is indefinite (valid permanently for the purposes of supervision and licensing) and is valid from the date of signing this consent.

"_" ______ 20.

Signature Full name".

To introduce the following changes to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On Licensing of the Activities of Specialized Financial Institutions'" of 16 March 2016 No. 12/3:

in the Regulation "On Licensing of the Activities of Specialized Financial Institutions" approved by the above-mentioned Resolution:

1) in paragraph 2, the words "National Bank of the Kyrgyz Republic," shall be excluded;

2) supplement with paragraph 17-1 as follows:

"17-1. Along with the submission of the documents provided for by this Regulation, SFIs, individuals and legal entities must provide consent to the collection and processing of personal data in accordance with Appendix 7 to this Regulation in respect of persons whose personal data are submitted to the National Bank.";

3) in Appendices 4 and 5 to the Regulation, the words "Deputy Chairman/Member of the Board of the National Bank" shall be replaced by the words "Head of the Department";

4) supplement with Appendix 7 to the Regulation as follows:

"Appendix 7

to the Regulation "On Licensing of the Activities of Specialized

Financial Institutions"

Consent of the personal data subject

to the collection and processing of his personal data

Locality ______ date "___" ___20.

I, ______

(last name, first name, patronymic)

residing at: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______

(date of issue, by whom issued)

For authorized persons

acting on behalf of

(last name, first name, patronymic)

residing at: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______ (date of issue, by whom issued)

on the basis of ______

(power of attorney, law, other legal act)

freely, consciously, of my own will give full and unconditional consent to the National Bank of the Kyrgyz Republic:

to the processing (any operation or set of operations performed regardless of methods, by the National Bank or on its instruction, by automated means or without them for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as to:
the transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic "On Personal Information" and international treaties);
the cross-border transfer of personal data (transfer by the National Bank of personal data to holders located under the jurisdiction of other states) of all personal data provided by me in accordance with banking legislation.

I provide the above personal data for processing for the purposes of the National Bank's implementation of licensing procedures (including approval of officials, issuance of consent for state registration (re-registration), expansion of the activity of the specialized financial institution), provided for by banking legislation.

Consent to the processing of personal data is indefinite (valid permanently for the purposes of supervision and licensing) and is valid from the date of signing this consent.

"_" ______ 20.

Signature Full name".

To introduce the following changes to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On Licensing of the Activities of Credit Bureaus'" of 24 August 2016 No. 35/5:

in the Regulation "On Licensing of the Activities of Credit Bureaus" approved by the above-mentioned Resolution:

1) in paragraph 7, the words "National Bank of the Kyrgyz Republic," shall be excluded;

2) paragraph 9 shall be stated in the following wording:

"9. A credit bureau shall, within 10 (ten) working days from the moment of occurrence of changes in telephone numbers, fax and electronic mail address, notify the National Bank of such changes.";

3) supplement with paragraphs 11-1 and 11-2 as follows:

"11-1. Along with the submission of the documents provided for by this Regulation, a credit bureau, individuals and legal entities must provide consent to the collection and processing of personal data in accordance with Appendix 5 to this Regulation in respect of persons whose personal data are submitted to the National Bank.

11-2. Each copy of documents submitted by a credit bureau to the National Bank in accordance with the requirements of this Regulation, containing more than one sheet, must be separately bound, numbered and signed by the head of the credit bureau, sealed with the seal of the credit bureau (if any) and certified (if there is a legislative requirement for certification).";

4) paragraph one of paragraph 29 shall be stated in the following wording:

"In case of changes in the information in the license that do not entail state re-registration of the credit bureau, within 5 (five) working days from the day the relevant body of the credit bureau adopts the decision, the credit bureau must submit the following documents to the National Bank for re-issuance of the license:";

5) supplement with paragraph 29-1 as follows:

"29-1. Re-issuance of the license in connection with changes in the license entailing state re-registration of the credit bureau shall be carried out after agreement with the National Bank of the said changes in accordance with paragraph 41 of this Regulation and submission of the documents specified in paragraphs one, two, four, five of paragraph 29 and paragraph 42 of this Regulation, in accordance with the time limits provided for in the said paragraphs.";

6) Appendix 2 to the Regulation shall be stated in the following wording:

"Appendix 2

to the Regulation "On Licensing of the Activities of Credit Bureaus"

NATIONAL BANK

OF THE KYRGYZ REPUBLIC

LICENSE

for carrying out the activities of a credit bureau

No. ______ of "___"___20

The National Bank of the Kyrgyz Republic grants the right

full name of the credit bureau

abbreviated name of the credit bureau

legal address of the credit bureau

to carry out the activities of a credit bureau in accordance with the Law of the Kyrgyz Republic "On Credit Information Exchange" and regulatory legal acts of the National Bank of the Kyrgyz Republic.

This license enters into force from the day of its signing.

The license is non-transferable and indefinite.

The rights arising from this license are not subject to transfer to third parties.

Seal

Head of the Department ______ ______

(signature) (full name of the official)";

7) supplement with Appendix 5 to the Regulation as follows:

"Appendix 5

to the Regulation "On Licensing

of the Activities of Credit Bureaus"

Consent of the personal data subject

to the collection and processing of his personal data

Locality ______ date "___" ___20.

I, ______

(last name, first name, patronymic)

residing at: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______

(date of issue, by whom issued)

For authorized persons

acting on behalf of

(last name, first name, patronymic)

residing at: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______ (date of issue, by whom issued)

on the basis of ______

(power of attorney, law, other legal act)

freely, consciously, of my own will give full and unconditional consent to the National Bank of the Kyrgyz Republic:

to the processing (any operation or set of operations performed regardless of methods, by the National Bank or on its instruction, by automated means or without them for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as to:
the transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic "On Personal Information" and international treaties);

cross-border transfer of personal data (transfer by the National Bank of personal data to holders under the jurisdiction of other states) of all personal data provided by me in accordance with banking legislation and legislation in the field of credit information exchange.

The above consent applies, among other things, to the following personal data: surname, name and patronymic (former surname, name, patronymic, date, place and reason for change (in case of change); date and place of birth; information on citizenship (including previous citizenship, other citizenships); information on education (name and year of graduation of the educational organization, name and details of the education document, qualification, field of training or specialty according to the education document); information on the existence of an academic degree; information on knowledge of foreign languages, level of proficiency; address of place of residence (place of stay); contact telephone number or information about other means of communication; type, series, number of the identity document, name of the issuing authority, date of issue; taxpayer identification number; marital status, composition of family and close relatives; information on labor activity (including military service, part-time work, entrepreneurial activity, activity under service agreements, etc.); state awards, other awards and insignia (by whom awarded and when); information on the presence or absence of a criminal record, including on applied measures of disciplinary, administrative liability and liability for committing misconduct and violations; information on income, expenses, property and property obligations; personal photograph).

I provide the above personal data for processing for the purpose of the National Bank carrying out licensing procedures (when submitting information on officials, making changes to constituent documents) provided for by the legislation in the field of credit information exchange and banking legislation of the Kyrgyz Republic.

I hereby confirm that I have been notified of the transfer of my personal data to other state bodies, credit bureaus and foreign banking and financial supervision and regulation bodies for verification of their accuracy and to identify information on impeccable business reputation and qualifications, including consciously and unconditionally confirming that I do not require subsequent notification of me in accordance with Article 24 of the Law of the Kyrgyz Republic "On Personal Information" and paragraph 12 of the Procedure for obtaining consent of the subject of personal data to the collection and processing of his personal data, the procedure and forms of notification of subjects of personal data about the transfer of their personal data to a third party, approved by Resolution of the Government of the Kyrgyz Republic of 21 November 2017 No. 759, when the National Bank transfers my personal data to the above persons within the framework of supervision and licensing procedures.

Consent to the processing of personal data is indefinite (valid permanently for the purposes of supervision and licensing) and is valid from the date of signing this consent.

"_" ______ 20

Signature Full name".

To amend the Resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the 'Rules for regulating the activities of credit bureaus in the territory of the Kyrgyz Republic'" of 28 September 2016 No. 40/5 as follows:

in the Rules for regulating the activities of credit bureaus in the territory of the Kyrgyz Republic approved by the above resolution:

1) supplement with clause 13-1 as follows:

"13-1. A credit bureau is obliged to send a draft international agreement providing for cross-border exchange of credit information to the National Bank for approval.

The said drafts of international agreements may be signed after receiving a letter from the National Bank consenting to the submitted draft.".

2) supplement with clause 14-1 as follows:

"14-1. The information systems of a credit bureau ensuring the collection, storage, processing and exchange of credit information must be located in the territory of the Kyrgyz Republic.".

To amend the Resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the 'Rules for forming the system of internal control and internal audit in banks and non-bank financial and credit organizations licensed and regulated by the National Bank of the Kyrgyz Republic'" of 15 June 2017 No. 2017-P-12/25-3-(NPA) as follows:

in the Rules for forming the system of internal control and internal audit in banks and non-bank financial and credit organizations licensed and regulated by the National Bank of the Kyrgyz Republic approved by the above resolution:

1) in clause 1 after the words "in OJSC 'Financial Company of Credit Unions'" supplement with the words ", guarantee funds,".

To amend the Resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On licensing the activities of the specialized financial and credit organization Open Joint-Stock Company 'Financial Company of Credit Unions'" of 15 June 2017 No. 2017-P-12/25-10-(NFKU) as follows:

in the Regulation "On licensing the activities of the specialized financial and credit organization Open Joint-Stock Company 'Financial Company of Credit Unions'" approved by the above resolution:

1) in clause 2 exclude the words "National Bank of the Kyrgyz Republic,";

2) supplement with clause 11-1 as follows:

"11-1. Along with the submission of the documents provided for by this Regulation, the Company, individuals and legal entities must provide consent to the collection and processing of personal data in accordance with Appendix 9 to this Regulation in respect of persons whose personal data are submitted to the National Bank.";

3) restate subparagraph 4 of clause 25 as follows:

"4) a candidate for the position of chairman of the Audit Committee must also possess knowledge in the field of international financial reporting and auditing standards, confirmed by certificates and/or other documents on completion of training in these areas obtained from organizations having the appropriate permit/license of the authorized state body in the field of education.";

4) restate clause 26 as follows:

"26. Candidates for the positions of chairman and member of the Board, chief accountant, head of the internal audit service (internal auditor, in the absence of a structural unit), head of the structural unit for lending/financing, head of the structural unit carrying out operations under Islamic principles of banking and financing ("Islamic window"), head of the compliance control service must meet the following qualification requirements:

1) have higher education;

2) have knowledge in the field of legislation regulating the activities of financial and credit organizations, risk management and corporate governance, on issues of the activities of credit unions;

3) have the following work experience:

a) candidate for the position of chairman of the Board – at least three years in the financial and credit system, including in managerial positions – at least one year;

b) candidate for the position of member of the Board – at least two years in the financial and credit system;

c) candidate for the position of chief accountant – at least one year in the financial and credit system as an accountant;

d) head of the internal audit service – at least three years in the financial and credit system, of which one year as head of the internal audit service or auditor;

e) head of the structural unit for lending/financing, head of the structural unit carrying out operations under Islamic principles of banking and financing ("Islamic window") – at least one year in the financial and credit system as head of the lending unit or unit for financing under Islamic principles of banking and financing ("Islamic window") respectively;

f) head of the compliance control service – at least one year in the financial and credit system as compliance officer;

4) a candidate for the position of chief accountant must also possess knowledge in the field of international accounting and financial reporting standards, confirmed by relevant certificates obtained from organizations having the appropriate permit/license of the authorized state body in the field of education;

5) a candidate for the position of head of the internal audit service must also possess knowledge of international auditing standards and international financial reporting standards, confirmed by relevant certificates or other documents obtained from organizations having the appropriate permit/license of the authorized state body in the field of education, know and be able to apply internal audit standards, international auditing standards and international financial reporting standards;

6) a candidate for the position of chairman of the Board of the Company must not be a member or official of a credit union during the last three years prior to his appointment.";

5) supplement with clause 32-1 as follows:

"32-1. Members of the Sharia Council may serve on the Sharia Council of one commercial bank and two non-bank financial and credit organizations.";

6) supplement with clause 42-1 as follows:

"42-1. Within the framework of considering candidates for the positions specified in clause 23 of this Regulation, the National Bank may invite candidates for an interview. The results of the interview are documented in a protocol, which is signed by representatives of the National Bank, and may serve as grounds for refusing to approve the candidate. Audio and video recording may be used during the interview.

During the interview, the candidate is asked questions to assess his knowledge of banking legislation, the Company's activities, as well as questions on any other areas affecting the process of approving the candidate for the position, including but not limited to questions about the candidate's business reputation, his previous activities, business and family ties.";

7) restate clauses 43 and 44 as follows:

"43. Chairmen and members of the board of directors and the Board re-elected for a new term in the Company to the same position do not undergo approval by the National Bank.

Chairmen of the board of directors and the Board re-elected for a new term in the Company to the position of member of the board of directors and the Board respectively do not undergo approval by the National Bank.

At the same time, within 5 (five) working days from the day of re-election, a notification of re-election must be sent to the National Bank.

The National Bank has the right to refuse approval of candidates for the positions specified in clause 23 of this Regulation if:

1) a guilty verdict containing a ban on working in the financial and credit system has been rendered against the candidates by a court decision;

2) a guilty verdict for committing crimes in the economic sphere and/or for official crimes has been rendered against the candidates;

3) the candidates previously were officials in a bank and/or other financial and credit organization licensed (regulated) by the National Bank, and there are decisions of the Supervisory Committee of the National Bank, orders or other acts of the National Bank recognizing them as involved in actions (inaction) as a result of which the bank and/or other financial and credit organization had its license (certificate) revoked;

4) false information and/or deliberately distorted information has been provided;

5) the candidate is considered not to have or to have lost an impeccable business reputation in accordance with banking legislation;

6) the candidates do not meet the requirements of the Law "On Banks and Banking Activity" and this Regulation;

7) if, according to the assessment of the National Bank, the appointment to a position in the Company of a candidate holding a position in financial and credit organizations or organizations operating in competing markets may lead to a conflict of interest.

When assessing a conflict of interest, the National Bank takes into account:

potential risks in relation to the safety of deposits of the population;
potential risks in relation to the stability of organizations with state participation;
potential risks in relation to the stability of financial and credit organizations having debt to the state or under state guarantees;
opinions of organizations in which the candidate works;

8) if the candidate has not submitted the documents requested by the National Bank within the framework of approving the candidate for the position within 10 (ten) working days from the day of receipt of the request (electronic version of the request);

9) negative results of the interview, indicating that the candidate does not sufficiently possess knowledge in the area where he intends to work;

10) failure of the candidate to appear for an interview more than 2 times without valid reasons (illness, being on a business trip in remote regions, absence from the country, etc.).";

8) supplement with clause 44-1 as follows:

"44-1. A candidate does not have the right to hold positions in the Company specified in clause 23 of this Regulation if there are facts specified:

in subparagraph 2 of clause 44 of this Regulation – within 7 (seven) years from the day of removal or expungement of the criminal record;
in subparagraph 3 of clause 44 of this Regulation – within 7 (seven) years from the day of entry into force of the corresponding decision;
in subparagraph 4 of clause 44 of this Regulation – within 1 (one) year from the day of detection of the violation fact;
in subparagraph 5 of clause 44 of this Regulation – within 5 (five) years from the day of adoption of the decision determining the fact that the candidate committed actions (inaction) indicating improper business reputation of the candidate.";

9) in appendices 1, 2, 4 and 5 to the Regulation, replace the words "Deputy chairman/member of the Board of the National Bank of the Kyrgyz Republic" with the words "Head of the department";

10) supplement with Appendix 9 to the Regulation as follows:

"Appendix 9

to the Regulation on licensing the activities of the specialized financial and credit organization Open Joint-Stock Company 'Financial Company of Credit Unions'

Consent of the subject of personal data

to the collection and processing of his personal data

Settlement ______ date "___" ___20

I, ______

(surname, name, patronymic)

residing at the address: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______

(date of issue, by whom issued)

For authorized persons

acting on behalf of

(surname, name, patronymic)

residing at the address: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______ (date of issue, by whom issued)

on the basis of ______

(power of attorney, law, other legal act)

freely, consciously, of my own will, I give full and unconditional consent to the National Bank of the Kyrgyz Republic:

to the processing (any operation or set of operations performed regardless of methods, by the National Bank or on its behalf, by automated means or without such means for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as to:
transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic "On Personal Information" and international treaties);
cross-border transfer of personal data (transfer by the National Bank of personal data to holders under the jurisdiction of other states) of all personal data provided by me in accordance with banking legislation.

I provide the above personal data for processing for the purpose of the National Bank carrying out licensing procedures (approval of officials, issuance of consent to state registration (re-registration), expansion of activities of OJSC 'FCCU') provided for by banking legislation of the Kyrgyz Republic.

I hereby confirm that I have been notified of the transfer of my personal data to other state bodies, credit bureaus and foreign banking and financial supervision and regulation bodies for verification of their accuracy and to identify information on impeccable business reputation and qualifications, including consciously and unconditionally confirming that I do not require subsequent notification of me in accordance with Article 24 of the Law of the Kyrgyz Republic "On Personal Information" and paragraph 12 of the Procedure for obtaining consent of the subject of personal data to the collection and processing of his personal data, the procedure and forms of notification of subjects of personal data about the transfer of their personal data to a third party, approved by Resolution of the Government of the Kyrgyz Republic of 21 November 2017 No. 759, when the National Bank transfers my personal data to the above persons within the framework of supervision and licensing procedures.

Consent to the processing of personal data is indefinite (valid permanently for the purposes of supervision and licensing) and is valid from the date of signing this consent.

"_" ______ 20

Signature Full name".

To amend the Resolution of the Board of the National Bank of the Kyrgyz Republic "On approval of the Regulation 'On minimum requirements for organizing internal control in commercial banks for the purpose of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds', the Regulation 'On the procedure for conducting exchange operations with cash foreign currency in the Kyrgyz Republic' and on amending and supplementing certain regulatory legal acts of the National Bank of the Kyrgyz Republic on issues of countering the financing of terrorist activities and the legalization (laundering) of criminal proceeds" of 14 August 2019 No. 2019-P-12/42-1-(NPA) as follows:

in the Regulation "On the procedure for conducting exchange operations with cash foreign currency in the Kyrgyz Republic" approved by the above resolution:

1) in the preamble, replace the words "Law of the Kyrgyz Republic 'On the National Bank of the Kyrgyz Republic, Banks and Banking Activity' and other regulatory acts of the Kyrgyz Republic" with the words "banking legislation";

2) restate clause 5 as follows:

"5. An exchange bureau has the right to terminate currency exchange activity before the expiration of the license. At the same time, the exchange bureau must submit within 3 (three) working days to the National Bank a letter indicating the reasons for terminating the activity of the exchange bureau and the original license.

An exchange bureau that has opened an additional exchange bureau must also submit a letter on registration of the additional exchange bureau.";

3) in clause 11 exclude the words "National Bank of the Kyrgyz Republic,";

4) restate subparagraphs 18, 19, 20, 21 and 22 of clause 8 as follows:

"18) have in the exchange bureau, MFO, MCC, CU, SFI a license (original) for the right to conduct exchange operations with cash foreign currency. An additional exchange bureau must have the original of the registration letter and a copy of the license of the exchange bureau, certified by the seal of the legal entity that opened it;

19) have employment agreements and agreements on material liability with each employee of the exchange bureau / additional exchange bureau, MFO, MCC, CU, SFI;

20) upon termination of the license, within 3 (three) working days surrender the original license. An exchange bureau that has opened an additional exchange bureau must also surrender the letter on registration of the additional exchange bureau;

21) notify the National Bank of changes in the location, telephone of the exchange bureau / additional exchange bureau, MFO, MCC, CU, SFI within a period not later than 3 (three) working days from the day of their change;

22) cease conducting operations from the moment of expiration of the license, as well as in case of a change of address – before re-issuance of the license of the exchange bureau or the letter on registration of the additional exchange bureau;";

5) in clause 40-1, replace the figures "8-1" with the figure "5";

6) supplement with Appendix 5 to the Regulation as follows:

"Appendix 5

to the Regulation "On the procedure for conducting exchange operations with cash foreign currency in the Kyrgyz Republic"

Indicative list of documents submitted by legal entities and individuals as sources of origin of the working capital of an exchange bureau:

1) Legal entities:

copies of the accounting balance sheet and profit and loss statement certified by the authorized bodies of the Kyrgyz Republic or;
copies of financial statements, declarations or other documents on financial condition certified by the applicant;
a copy of the audit report (if this requirement is established by legislation);

2) Individuals – certificates, declarations, purchase/sale/gift agreements, right to inheritance of sums, property, etc.

3) Other documents confirming the sources of origin of the working capital of the exchange bureau, not prohibited by legislative acts of the Kyrgyz Republic.

Documents submitted to the National Bank in accordance with this Regulation and containing more than one sheet must be described page by page, bound, numbered, signed and duly certified; documents may be submitted in the form of brochures printed by typographic method.

Documents or their copies submitted in a foreign language must be translated into the Kyrgyz and/or Russian languages and certified in the established procedure."

To introduce the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On the Creation and Registration of Guarantee Funds in the Kyrgyz Republic'" of 9 September 2019 No. 2019-P-33/47-2-(NFKU):

In the Regulation "On the Creation and Registration of Guarantee Funds in the Kyrgyz Republic", approved by the above-mentioned Resolution:

1) to supplement with paragraph 8-1 of the following content:

"8-1. Along with the submission of the documents provided for by this Regulation, the GF, individuals and legal entities must provide consent to the collection and processing of personal data in accordance with Appendix 6 to this Regulation in respect of persons whose personal data are submitted to the National Bank.";

2) in paragraph 15, the words "legislation of the Kyrgyz Republic on the National Bank, banks and banking activities" shall be replaced by the words "banking legislation";

3) to supplement with paragraph 22-1 of the following content:

"22-1. Within the framework of consideration of candidates for the positions specified in paragraph 16 of this Regulation, the National Bank may invite candidates for an interview. The results of the interview shall be recorded in a protocol, which shall be signed by representatives of the National Bank, and may serve as grounds for refusal to approve the candidate. During the interview, audio and video recording means may be used.

During the interview, the candidate is asked questions to assess his knowledge of banking legislation, the activities of guarantee funds, as well as questions on any other areas affecting the process of approving a candidate for a position, including but not limited to questions about the candidate's business reputation, his previous activities, business and family ties.";

4) to restate paragraph 25 as follows:

"25. Appointment/election of officials.

1) Within 10 (ten) working days from the day of election/appointment of officials specified in paragraph 16 of this Regulation, as well as in the event of changes in the composition of officials of the GF, the GF must submit to the National Bank at its location a notification of election/appointment or changes with the attachment of the following documents:

a) decision of the authorized management body of the GF on election/appointment (copy certified by the GF's seal);

b) questionnaire in the established form (Appendix 2);

c) other required documents, in accordance with this chapter, for each official.

2) Chairmen and members of the board of directors, the Management Board, re-elected for a new term in the same GF for the same position, do not undergo approval by the National Bank.

Chairmen of the board of directors and the Management Board, re-elected for a new term in the same GF to the position of member of the board of directors and the Management Board respectively, do not undergo approval by the National Bank.

At the same time, within 5 (five) working days from the day of re-election, a notification of re-election must be sent to the National Bank.

3) When approving candidates for the positions of members of the board of directors in subsidiary guarantee funds of the National Bank, candidates for these positions, if they are employees of the National Bank, are limited to providing a questionnaire in the form of Appendix 2 and must meet the requirements established by this Regulation. In the absence of comments on the submitted documents and compliance of the candidate with the established requirements, the responsible structural subdivision of the National Bank makes a decision on approval and sends a letter to the guarantee fund on approval of the candidate within the time limits established by this Regulation.";

5) to restate paragraph 28 as follows:

"28. The National Bank has the right to refuse the procedure of approval of officials for the positions specified in paragraph 16 of this Regulation if:

1) a guilty verdict has been rendered against the candidates for committing crimes in the economic sphere or for official crimes, including with deprivation of the right to hold certain positions or engage in certain activities;

2) the candidates previously were officials in a bank or other financial and credit organization licensed (regulated) by the National Bank, and there are decisions of the Supervisory Committee of the National Bank, instructions or other acts of the National Bank recognizing them as involved in actions (inaction), as a result of which the bank or other financial and credit organization had its license (certificate) revoked;

3) the candidates do not meet the requirements of the laws "On Guarantee Funds in the Kyrgyz Republic", "On Banks and Banking Activities" and this Regulation, including in terms of requirements for impeccable business reputation;

4) there is a conclusion, decision or other acts of the National Bank (decision of the Supervisory Committee of the National Bank, instructions, inspection reports, etc.) recognizing that the candidate:

a) is involved in actions (inaction), as a result of which the license (certificate of registration) was revoked from the bank/financial and credit organization or a temporary administration regime was introduced;

b) is involved in actions classified as unsound or unsafe banking practice;

c) has committed violations of the legislation of the Kyrgyz Republic and other unlawful actions in the sphere of financial, economic and/or business activities;

6) if the person has lost impeccable business reputation in other spheres of activity by a court decision;

7) there are materials of inspections by regulatory bodies indicating the occurrence of financial and/or administrative problems in the areas for which the candidate was responsible;

8) if the candidate has not submitted the documents requested by the National Bank within the framework of approval of the candidate for the position within 10 (ten) working days from the day of receipt of the request (electronic version of the request);

9) negative results of the interview, where it is indicated that the candidate does not possess sufficient knowledge in the area where he intends to work;

10) failure of the candidate to appear more than 2 (two) times for an interview without valid reasons (illness, being on a business trip in remote regions, absence from the country, etc.).";

6) to supplement with paragraph 28-1 of the following content:

"28-1. A candidate does not have the right to occupy positions in the GF specified in paragraph 16 of this Regulation if there are facts specified:

in subparagraph 4 "a", 4 "b" of paragraph 28 of this Regulation – within 4 (four) years from the day of adoption of the decision on the existence of the fact of violation;
in subparagraph 4 "c" and subparagraph 7 of paragraph 28 of this Regulation – within 4 (four) years from the day of adoption of the decision determining the fact of violation;
in subparagraph 6 of paragraph 28 of this Regulation – within 4 (four) years from the day of entry into force of the corresponding decision.";

7) to supplement with Appendix 6 to the Regulation of the following content:

"Appendix 6

to the Regulation "On the Creation and Registration of Guarantee Funds"

Consent of the personal data subject

to the collection and processing of his personal data

Settlement ______ date "___" ___20

I, ______

(surname, name, patronymic)

residing at the address: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______

(date of issue, by whom issued)

For authorized persons

acting on behalf of

(surname, name, patronymic)

residing at the address: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______ (date of issue, by whom issued)

on the basis of ______

(power of attorney, law, other legal act)

freely, consciously, of my own will give full and unconditional consent to the National Bank of the Kyrgyz Republic:

to the processing (any operation or set of operations performed regardless of methods, by the National Bank or on its instruction, by automated means or without such, for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as to:
transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic "On Personal Information" and international treaties);
cross-border transfer of personal data (transfer by the National Bank of personal data to holders located under the jurisdiction of other states) of all personal data provided by me in accordance with the legislation in the sphere of activity of guarantee funds and banking legislation.

The above consent extends, inter alia, to the following personal data: surname, name and patronymic (previous surname, name, patronymic, date, place and reason for change (in case of change); date and place of birth; information on citizenship (including previous citizenship, other citizenships); information on education (name and year of graduation of the educational organization, name and details of the document on education, qualification, direction of training or specialty according to the document on education); information on the presence of an academic degree; information on knowledge of foreign languages, level of proficiency; address of place of residence (place of stay); contact telephone number or information about other means of communication; type, series, number of the identity document, name of the body that issued it, date of issue; taxpayer identification number; marital status, composition of family and close relatives; information on labor activity (including military service, part-time work, entrepreneurial activity, activity on the basis of service contracts, etc.); state awards, other awards and insignia (by whom awarded and when); information on the presence or absence of a criminal record, including on applied measures of disciplinary, administrative liability and liability for committing offenses and violations; information on income, expenses, property and property obligations; personal photograph).

I provide the above personal data for processing for the purposes of the National Bank's implementation of procedures for issuing permits (approval of officials, issuance of consent for state registration (re-registration), expansion of the activity of the guarantee fund), provided for by the legislation in the sphere of activity of the guarantee fund and banking legislation of the Kyrgyz Republic.

I hereby confirm that I have been notified of the transfer of my personal data to other state bodies, credit bureaus and foreign bodies of banking and financial supervision and regulation for verification of their accuracy and for identification of information on issues of impeccable business reputation and qualifications, including I consciously and unconditionally confirm that I do not require subsequent notification of me in accordance with Article 24 of the Law of the Kyrgyz Republic "On Personal Information" and paragraph 12 of the Procedure for obtaining consent of the personal data subject to the collection and processing of his personal data, the procedure and forms of notification of personal data subjects about the transfer of their personal data to a third party, approved by the Resolution of the Government of the Kyrgyz Republic of 21 November 2017 No. 759, when the National Bank transfers my personal data to the above-mentioned persons within the framework of the implementation of supervision and licensing procedures.

Consent to the processing of personal data is perpetual (valid permanently for the purposes of supervision and licensing) and is valid from the date of signing this consent.

"_" ______ 20

Signature Full name".

To introduce the following amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Regulation 'On Licensing the Activities of Housing-Savings Credit Companies'" of 1 November 2019 No. 2019-P-33/55-1-(NFKU):

In the Regulation "On Licensing the Activities of Housing-Savings Credit Companies", approved by the above-mentioned Resolution:

1) to restate paragraph 6 as follows:

"6. Each copy of the documents submitted by the HSC to the National Bank in accordance with the requirements of this Regulation, containing more than one sheet, must be separately bound, numbered and signed by the head of the HSC, sealed with the seal of the HSC (if any) and certified (if there is a legislative requirement for certification).";

2) to supplement with paragraphs 6-1 and 6-2 of the following content:

"6-1. Within the framework of issuing a license, confirming the sources of origin of funds, approving officials, issuing consent for state registration (re-registration), the National Bank, if it considers that the submitted information is insufficient for making a decision, may request additional information and documents necessary for the procedures of licensing, confirmation of sources of origin of funds, approval of officials, issuance of consent for state registration (re-registration), which must be submitted by the applicants within the time limits specified in the request.

6-2. Along with the submission of the documents provided for by this Regulation, the HSC, individuals and legal entities must provide consent to the collection and processing of personal data in accordance with Appendix 12 to this Regulation in respect of persons whose personal data are submitted to the National Bank.";

3) to restate subparagraph 2 of paragraph 25 as follows:

"2) failure to submit in full the documents provided for by this Regulation or requested by the National Bank in accordance with paragraph 6-1 of this Regulation, within 10 (ten) working days from the day of receipt of the request (electronic version of the request). If the said obstacles are eliminated, the documents are considered on general grounds;";

4) in subparagraph 3 of paragraph 59, the numerals "2 and 3" shall be replaced by the numerals "1 and 2";

5) to restate paragraph 67 as follows:

"67. Candidates for the positions of chairman and members of the Management Board, chief accountant, risk manager, heads of structural subdivisions must meet the following requirements:

1) possession of higher education;

2) possession of work experience:

chairman of the Management Board of the HSC – not less than three years of work experience in the banking and/or financial system, including in managerial positions – not less than two years;
members of the Management Board – not less than two years of work experience in managerial positions in the banking and/or financial system;
chief accountant – possession of higher education in the sphere of economics/finance/banking and work experience during the last 3 (three) years in the banking or financial system, of which not less than 1 (one) year as an accountant;
risk manager, heads of structural subdivisions – not less than 2 (two) years in the banking and/or financial system, of which not less than 1 (one) year in a similar position to which the candidate is applying (risk manager, compliance officer, head of the credit subdivision, head of the subdivision responsible for asset and liability management, head of the internal audit service, respectively);

3) possession of knowledge in the field of legislation regulating the activities of banks and housing-savings credit companies, as well as on risk management and corporate governance issues, confirmed by documents on completion of training in this area.";

6) in paragraph 65, the words "National Bank of the Kyrgyz Republic," shall be excluded;

7) to supplement with paragraph 70-1 of the following content:

"70-1. Certificates and other documents confirming the completion of training of officials in the areas specified in paragraphs 65, 67, 68, 69 and 70 of this Regulation must be obtained from organizations that have the appropriate permit/license of the authorized state body.";

8) to supplement with paragraph 71-1 of the following content:

"71-1. Chairmen and members of the board of directors and the Management Board, re-elected for a new term in the same HSC for the same position, do not undergo approval by the National Bank.

Chairmen of the board of directors and the Management Board, re-elected for a new term in the same HSC to the position of member of the board of directors and the Management Board respectively, do not undergo approval by the National Bank.

At the same time, within 5 (five) working days from the day of re-election, a notification of re-election must be sent to the National Bank.";

9) to supplement with paragraph 73-1 of the following content:

"73-1. Within the framework of consideration of candidates for the positions specified in paragraph 63 of this Regulation, the National Bank may invite candidates for an interview. The results of the interview shall be recorded in a protocol, which shall be signed by representatives of the National Bank, and may serve as grounds for refusal to approve the candidate. During the interview, audio and video recording means may be used.

During the interview, the candidate is asked questions to assess his knowledge of banking legislation, the activities of the HSC, as well as questions on any other areas affecting the process of approving a candidate for a position, including but not limited to questions about the candidate's business reputation, his previous activities, business and family ties.";

10) to supplement with paragraph 75-1 of the following content:

"75-1. In case of refusal of the National Bank to approve an official of the HSC, the said person shall be dismissed from the position within 10 (ten) working days from the moment of receipt of the letter of the National Bank on refusal of approval.";

11) to restate paragraph 77 as follows:

"77. The National Bank has the right to refuse approval of candidates for the positions specified in paragraph 63 of this Regulation if:

1) the person is considered to not have or to have lost impeccable business reputation, in accordance with banking legislation;

2) a guilty verdict has been rendered against the candidates by a court decision prohibiting work in the financial and credit system;

3) a guilty verdict has been rendered against the candidates for committing crimes in the economic sphere and/or for official crimes;

4) the candidates previously were officials in a bank and/or other financial and credit organization licensed (regulated) by the National Bank, and there are decisions of the Supervisory Committee of the National Bank, instructions or other acts of the National Bank recognizing them as involved in actions (inaction), as a result of which the bank and/or other financial and credit organization had its license (certificate) revoked;

is involved in actions (inaction), as a result of which a temporary administration regime was introduced in the bank;
is involved in actions classified as unsound and/or unsafe banking practice;
has committed violations of the legislation of the Kyrgyz Republic;

6) the candidates do not meet the requirements of this Regulation;

7) if, according to the assessment of the National Bank, the appointment to a position in the HSC of a candidate holding a position in financial and credit organizations or organizations carrying out activities in competing markets may lead to a conflict of interests.

When assessing the conflict of interests, the National Bank takes into account:

potential risks in relation to the safety of deposits of the population;
potential risks in relation to the stability of organizations with state participation;
potential risks in relation to the stability of financial and credit organizations having debt to the state or under state guarantees;
opinions of organizations in which the candidate works;

9) negative results of the interview, where it is indicated that the candidate does not possess sufficient knowledge in the area where he intends to work;

10) failure of the candidate to appear more than 2 times for an interview without valid reasons (illness, being on a business trip in remote regions, absence from the country, etc.).";

11) to supplement paragraph 78 with a paragraph of the following content:

"- in subparagraph 1 of paragraph 77 of this Regulation – within 5 (five) years from the day of adoption of the decision determining the fact of commission by the candidate of actions (inaction) indicating the candidate's improper business reputation.";

12) to restate paragraph 94 as follows:

"94. It is not allowed to adopt a decision on voluntary liquidation if the HSC has not fulfilled all obligations to participants and creditors, including to financial and credit organizations, except in cases of submission to the National Bank of notarized consent of participants and creditors to the voluntary liquidation of the HSC.";

13) to supplement with Appendix 12 to the Regulation of the following content:

"Appendix 6

to the Regulation "On Licensing

the Activities of Housing-Savings Credit Companies"

Consent of the personal data subject

to the collection and processing of his personal data

Settlement ______ date "___" ___20

I, ______

(surname, name, patronymic)

residing at the address: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______

(date of issue, by whom issued)

For authorized persons

acting on behalf of

(surname, name, patronymic)

residing at the address: ______

Identity document: ______ series ______ No. ______

(type of document)

issued by ______ (date of issue, by whom issued)

on the basis of ______

(power of attorney, law, other legal act)

freely, consciously, of my own will give full and unconditional consent to the National Bank of the Kyrgyz Republic:

to the processing (any operation or set of operations performed regardless of methods, by the National Bank or on its instruction, by automated means or without such, for the purposes of collection, recording, storage, updating, grouping, blocking, erasure and destruction of personal data), as well as to:
transfer of personal data (provision by the National Bank to third parties in accordance with the Law of the Kyrgyz Republic "On Personal Character Information" and international treaties);
cross-border transfer of personal data (transfer by the National Bank of personal data to holders located under the jurisdiction of other states) of all personal data provided by me in accordance with the legislation in the field of activity of housing savings and credit companies and banking legislation.

The above consent extends, among other things, to the following personal data: last name, first name and patronymic (previous last name, first name, patronymic, date, place and reason for change (in case of change); date and place of birth; information about citizenship (including previous citizenship, other citizenships); information about education (name and year of graduation of the educational organization, name and details of the document on education, qualification, field of training or specialty according to the document on education); information about the presence of an academic degree; information about knowledge of foreign languages, level of proficiency; address of place of residence (place of stay); contact telephone number or information about other means of communication; type, series, number of the identity document, name of the authority that issued it, date of issue; taxpayer identification number; marital status, composition of family and close relatives; information about labor activity (including military service, part-time work, entrepreneurial activity, activity on the basis of service contracts, etc.); state awards, other awards and insignia (by whom awarded and when); information about the presence or absence of a criminal record, including applied measures of disciplinary, administrative liability and liability for committing offenses and violations; information about income, expenses, property and property obligations; personal photograph).

I provide the above personal data for processing in order for the National Bank to carry out licensing procedures (approval of officials, issuance of consent for state registration (re-registration), expansion of activity of HSCK [housing savings and credit companies]), provided for by the legislation in the field of activity of housing savings and credit companies and banking legislation of the Kyrgyz Republic.

I hereby confirm that I am notified of the transfer of my personal data to other state bodies, credit bureaus and foreign bodies of banking and financial supervision and regulation for verification of their accuracy and for identification of information on issues of impeccable business reputation and qualifications, including consciously and unconditionally confirm that I do not require subsequent notification of me in accordance with Article 24 of the Law of the Kyrgyz Republic "On Personal Character Information" and paragraph 12 of the Procedure for obtaining consent of the subject of personal data to the collection and processing of his personal data, the procedure and forms of notification of subjects of personal data about the transfer of their personal data to a third party, approved by the Resolution of the Government of the Kyrgyz Republic of 21 November 2017 No. 759, when the National Bank transfers my personal data to the above persons within the framework of supervision and licensing procedures.

Consent to the processing of personal data is indefinite (valid permanently for the purposes of supervision and licensing) and is valid from the date of signing this consent.

"_" ______ 20.

Signature Full name".

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Consent to the collection and processing of personal data

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