RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of June 29, 2020 No. 2020-P-14/38-6-(PS)

About temporary measures for suspension of inspection and preliminary checks of the payment organizations / operators of payment systems / applicants in connection with spread of koronavirusny infection of COVID-19

For the purpose of providing the measures directed to decrease in risks of distribution and infection with koronavirusny infection of COVID-19 among employees of National Bank of the Kyrgyz Republic when implementing of service duties by them when conducting inspection and preliminary checks of the payment organizations / operators of payment systems / applicants on places, Board of National Bank of the Kyrgyz Republic, being guided by articles 20 and 68 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity", decides:

1. To temporarily suspend execution of Item 21 of the Provision "About Licensing of Activities of Payment Institutes and Operators of Payment Systems" approved by the resolution of Board of National Bank of the Kyrgyz Republic of September 2, 2019 No. 2019-P-14/46-1-(PS) (further - the Provision), regarding conducting preliminary checks on compliance to the requirements established in Item 19 of the above-stated Provision, the questions connected with departure on places within consideration on licensing of activities of payment institutes and operators of payment systems.

2. Since July 1, 2020 it is temporary to suspend conducting inspection checks of activities of payment institutes and operators of the payment systems, except as specified, requiring urgent reaction in payment system.

3. This resolution becomes effective from the date of its official publication and is effective before adoption of the relevant decision of Board of National Bank of the Kyrgyz Republic.

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