Resolution of the National Bank of the Kyrgyz Republic No. 78/25 of December 23, 2015 on Approving the Regulation on Licensing of Credit Unions

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of December 23, 2015 No. 78/25

On Approving the Regulation "On Licensing of Credit Unions"

In accordance with Articles 7 and 43 of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic

RESOLVES:

1. Approve the Regulation "On Licensing of Credit Unions" (attached).

2. Recognize as having lost force:

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On the Regulation "On Licensing of Credit Unions" dated May 4, 2005 No. 14/3;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments and Additions to the Regulation "On Licensing of Credit Unions" dated February 8, 2006 No. 4/6;

• Paragraph 1 of the Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments and Additions to Certain Regulatory Acts of the National Bank of the Kyrgyz Republic" dated November 5, 2008 No. 40/7;

• Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments and Additions to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated May 4, 2005 No. 14/3 "On a New Edition of the Regulation "On Licensing of Credit Unions", registered in the Ministry of Justice of the Kyrgyz Republic on June 10, 2005, registration number 75-05" dated July 29, 2009 No. 32/5;

• Paragraph 1 of the Appendix to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments and Additions to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic" dated December 12, 2012 No. 48/10;

• the second paragraph of paragraph 1 of the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments and Additions to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic" dated February 13, 2013 No. 4/2 and Part I of the Appendix to the Resolution;

• sub-paragraph 3 of paragraph 1 of the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments and Additions to Certain Regulatory Legal Acts of the National Bank of the Kyrgyz Republic" dated December 23, 2013 No. 52/8 and paragraph 3 of the Appendix to the Resolution;

• the third paragraph of paragraph 1 of the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments and Additions to Certain Resolutions of the Board of the National Bank of the Kyrgyz Republic" dated December 24, 2014 No. 58/16 and paragraph 5 of Appendix 1 to the Resolution;

• the second paragraph of paragraph 1 of the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Amendments and Additions to Certain Resolutions of the Board of the National Bank of the Kyrgyz Republic" dated October 14, 2015 No. 62/1 and Part I of the amendments and additions to certain Resolutions of the Board of the National Bank of the Kyrgyz Republic.

3. The Legal Department:

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

• after official publication, send this Resolution to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State Register of Legal Acts of the Kyrgyz Republic.

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

5. The Management of Supervision and Licensing Methodology shall bring this Resolution to the attention of the relevant structural subdivisions of the National Bank of the Kyrgyz Republic, its regional departments, and the representation of the National Bank in the Batken Region, as well as to operating credit unions of the Kyrgyz Republic and their associations (associations).

6. Control over the implementation of this Resolution shall be entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic, L.Dz. Orozbayeva.

Chairman	T. Abdygulov