RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 27, 2017 No. 2017-P-12/54-12-(BS)

About modification of the resolution of Board of National Bank of the Kyrgyz Republic "About the Provision "About Realization of the Islamic Principles of Financing in the Kyrgyz Republic within Pilot Project" of October 30, 2006 No. 32/2

According to Articles 4, of 20, 68 and part 6 of article 111 of the Law "About National Bank of the Kyrgyz Republic, Banks and Banking Activity" Board of National Bank of the Kyrgyz Republic decides:

1. Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About the Provision "About Realization of the Islamic Principles of Financing in the Kyrgyz Republic within Pilot Project" of October 30, 2006 No. 32/2 the following change:

in the Regulations on realization of the Islamic principles of financing in the Kyrgyz Republic within pilot project approved by the above-stated resolution:

- the fourth the subitem "an" of Item 6 of Chapter 2.3 to state the paragraph in the following edition:

"At the same time the cumulative balance in cash, to the clients acting as the agents within agency agreements issued for purchase of goods shall not exceed 20% of portfolio of financing of bank on Murabakh's transactions;".

2. This resolution becomes effective after fifteen days from the date of official publication.

3. To legal management:

- publish this resolution on the official website of National Bank of the Kyrgyz Republic;

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