RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of August 12, 2020 No. 2020-P-12/45-3-(NPA)

About approval of the Provision "About the Special Regulating Mode"

According to Articles 20, 53-1, 53-2 and 68    of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About the Special Regulating Mode" it (is applied).

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

3. To legal management:

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

- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

4. To management of methodology of supervision and licensing of banks to bring this resolution to the attention of commercial banks, OYuL "Union of Banks of Kyrgyzstan", OYuL "Association of the Microfinancial Organizations", OYuL "National Association of Credit Unions and Cooperatives of Kyrgyzstan", OYuL "Association of Operators of KG Payment Service Providers", microfinance companies, the microcredit companies, the mikrocreditny agencies, credit unions, guarantee funds, credit bureaus, JSC Finance Company of Credit Unions, operators of payment systems and payment institutes, structural divisions, regional managements, representative offices of National Bank of the Kyrgyz Republic in Batken Province.

5. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising Management of methodology of supervision and licensing of banks.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of August 12, 2020 No. 2020-P-12/45-3-(NPA)

Regulations on the special regulating mode

Chapter 1. General provisions

1. This Provision "About the Special Regulating Mode" (further - the Provision) determines procedure for creation of the special regulating mode for implementation of innovative banking activities and services/technologies in the field of banking and payment services (further - banking activities and/or services), procedure for participation and the requirement to participants of the special regulating mode in the conditions of need of adaptation of new services and technologies which were not provided in bank and payment systems of the Kyrgyz Republic earlier. Requirements of regulatory legal acts of National Bank of the Kyrgyz Republic (further - National Bank) are applied to legal relationship on activities of the special regulating modes taking into account the features provided by this Provision and decisions of Committee on supervision/committee on payment system of National Bank (further - Committee).

Transactions and services within the special regulating mode shall be ready to testing in real market conditions in limited scale and on stages of the minimum commercial viable product.

The implemented innovative services / technologies in the field of the banking activities and/or services relating to banking activities according to the legislation of the Kyrgyz Republic within the special regulating mode shall correspond to the following criteria:

- the offered innovative transactions and/or services for application in banking activities and/or rendering banking services are new in the field of banking activities and/or services;

- making of banking activities and/or services was limited to regulatory legal acts of the Kyrgyz Republic;

- there are no restrictions on combination of the activities with other activities, including restrictions by the form and to the list of the provided transactions, according to the legislation of the Kyrgyz Republic;

- transactions and services are not regulated by regulatory legal acts of the Kyrgyz Republic and there is no direct prohibition on carrying out transactions.

Within the special regulating mode participants approve the innovative transactions and/or services applied in the field of banking activities and/or services which supplement, but do not replace the main business activity.

Compliance to the transaction offered for testing and (or) service to the above criteria is obligatory for creation of the special regulating mode.

The special regulating mode is not intended and cannot be used as means of bypass of requirements of the legislation of the Kyrgyz Republic and qualifying standards to the participants rendering similar types of banking activities and/or services.

2. The main objectives of the special regulating mode for implementation of innovative banking activities and services are:

- decrease in legal uncertainty and legal risks for participants of the market;

- determination of acceptable and available rules for pilot use of innovative banking activities and services;

- acceleration of the choice and input on the market of innovative banking activities and services;

- development of legal and other regulating requirements for the new public relations which resulted from implementation of innovative banking activities and services;

- increase in availability, customer focus of banking services to consumers and cost reduction on their implementation.

3. The National Bank for implementation of innovative transactions and/or services in the field of banking activities and/or services within the special regulating mode exercises control of implementation process of this mode and makes the decision according to the this provision regulations.

Information on creation of the special regulating mode based on the license for the right of carrying out the limited list of banking activities granted by National Bank within the special regulating mode is posted on the official website of National Bank.

4. Creation of the special regulating mode is performed on the basis of the principles of voluntariness, publicity, equality of the reporting and introduction of restrictions on all participants of the special regulating mode, and also taking into account recommendations of international standards about banking activity and effective supervision. At the same time realization of the special regulating mode shall not influence change of main objective, the transactions and the principles of activities of National Bank specified in the legislation of the Kyrgyz Republic.

4-1. Risk management methods shall correspond to the scales of activities of the participant and risks connected with implementation of innovative banking service or technology within the special regulating mode.

5. Responsibility for observance of conditions of the special regulating mode is born by the Applicant together with the Coapplicant (in the presence).

At the same time as the Applicant/coapplicant (in the presence) for entry into the special regulating mode the legal entity registered in the territory of the Kyrgyz Republic who shall meet the following requirements acts:

1) lack of violations of obligatory economic standard rates, prohibitions and restrictions, and also unexecuted corrective actions in the field of counteraction to financing of terrorist activities and legalization (washing) of the criminal income connected with offered to testing of innovative transactions and/or services in the field of banking activities and/or services, for date of application;

2) the Applicant shall not be in process of liquidation, bankruptcy or in the special mode;

3) lack of prohibition concerning the Applicant (Coapplicant) or his head or the founder (the shareholder, the participant) to be engaged in this type of activity by a court decision or according to the legislation of the Kyrgyz Republic;

4) absence as a part of founders of the Applicant (Coapplicant) of the affiliates registered in offshore zones or the physical persons living in the territory of offshore zones or being shareholders (participants) of the legal entities registered in offshore zones which list is established by National Bank;

5) the Applicant (Coapplicant) shall be solvent and have satisfactory financial condition, or the Applicant (Coapplicant) shall have sufficient own financial resources for maintaining the special regulating mode for the last accounting financial year at the time of application;

6) availability of professional, technical competence and reputation, equipment and other material resources necessary for participation in the special regulating mode. 

Chapter 2. Terms and determinations

6. In this Provision the following terms and determinations are used:

Rendering service - making of transactions and provision of services within the special regulating mode according to article 48 of the constitutional Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" and requirements of National Bank.

The special regulating mode - set of rules which allow the participants who are engaged in implementation of innovative services / technologies in the market of banking and payment services of the Kyrgyz Republic to approve them in the limited controlled circle (on the territory, in time, by quantity and amount of transactions and users and other), according to requirements of National Bank.

Testing - the process of rendering, research, monitoring and the analysis of services/technologies aiming at approbation of service according to requirements and conditions of the special regulating mode.

The applicant - the legal entity registered in the territory of the Kyrgyz Republic, who addressed to National Bank with the request about creation of the special regulating mode for implementation of innovative banking activities and services/technology and their further testing.

The coapplicant - the legal entity registered in the territory of the Kyrgyz Republic, who sent together with the Applicant to National Bank the request about conducting testing of innovative banking activities and services/technologies within the special regulating mode.

The participant of the special regulating mode is the Applicant and the Coapplicant (in the presence) performing testing of innovative banking activities and services in accordance with the terms of the special regulating mode.

The license for the right of carrying out the limited list of banking activities within the special regulating mode - the document (Appendix 5 to this Provision) certifying the right of the participant to activities implementation (separate banking activities) within the special regulating mode.

Specification - Appendix to the license (Appendix 6 to this Provision) for the right of carrying out the limited list of banking activities within the special regulating mode, is integral part of the license with display of the permitted transactions.

During conducting testing contents of the specification shall be invariable.

In case of decision making about prolongation of the special regulating mode increase in the set restrictions is not allowed.

Determinations and terms regarding innovations correspond to determinations and terms, according to the legislation of the Kyrgyz Republic on innovative activities. Depending on transaction type, the service/technology passing test within the special regulating mode the main determinations and terms can contain in the certificate of transaction, service/technology.

Chapter 3. Giving and consideration of the request about creation of the special regulating mode

7. The request about creation of the special regulating mode (further - the Application) is submitted by the Applicant and the Coapplicant (in the presence) to National Bank.

In the special regulating mode for testing of similar transactions and services or the applied technologies when carrying out transactions and rendering services simultaneous participation of participants of the special regulating mode taking into account Item 14-1 of this provision is allowed.

At the same time the term of simultaneous participation of participants of the special regulating mode cannot exceed the term of the operating special regulating mode testing similar transaction and / service.

Order taking for simultaneous participation in the special regulating mode stops after 6 (six) months from effective date of the operating special regulating mode.

8. Requests are included:

- application on appendix form 1 to this Provision, issued on the form of the Applicant, with the petition for creation of the special regulating mode according to this Provision, containing the inventory of the documents enclosed to the application, with the signature of the head and certified by seal of the Applicant and Coapplicant (in the presence), according to requirements of the legislation of the Kyrgyz Republic;

- information on the Applicant and the Coapplicant (in the presence) on appendix form 2 to this Provision and written consent of the Coapplicant;

- information on transaction, service/technology for appendix form 3 to this Provision which testing is offered by the Applicant;

- notarized copies or electronic forms of constituent documents of the Applicant/coapplicant (in the presence) with details for receipt of confirmation from the relevant state bodies with indication of the amount of the announced authorized capital;

- the certified properly accounting/financial reporting of the applicant for the last accounting financial year;

- the document confirming payment for the license. The amount of the state tax for the license is determined according to the legislation of the Kyrgyz Republic;

- original of the warrant for receipt of the license;

- the written consent of the Applicant and Coapplicant to implementation of scheduled/unscheduled inspection inspections on places within the special regulating mode from National Bank if the Applicant and/or the Coapplicant are not legal entities, persons under surveillance to National Bank (Appendix 1-1);

- forecast economic calculations of the results expected from carrying out the offered transaction and service.

The requirement about provision of constituent documents and the accounting/financial reporting does not extend to persons, persons under surveillance to National Bank, speakers as the Applicant and the Coapplicant (in the presence). 

9. Information on transaction, service/technology (Appendices 3) shall open briefly content and essence of expected transaction, service/technology. At the same time the detailed description of transaction, service/technology shall be in addition enclosed in a free form, including in graphical and schematical forms. 

10. Consideration of the Request is performed by National Bank within 30 (thirty) working days from the moment of receipt of the documents specified in Items 8 and 9 of this provision.

In time considerations of documents by National Bank time spent by the Applicant (Coapplicant) for completion of documents does not enter if other is not provided by this Provision.

At the same time the original document and/or properly certified its copies shall be provided to National Bank. The documents submitted by foreign founders (shareholders) shall be legalized according to the procedure, established by the legislation of the Kyrgyz Republic. The documents submitted in foreign language shall contain the translation into the state and/or official languages certified properly.

If the documents received by National Bank do not meet requirements imposed by National Bank and/or do not contain the data (description) sufficient for their consideration and decision making on them, the term of consideration of documents is reckoned from the date of receipt by National Bank of the documents meeting qualifying standards.

11. During consideration of the request National Bank:

- establishes compliance of the Applicant (Coapplicant) to the requirements established by this Provision;

- checks Request compliance to the requirements established by this Provision;

- carries out expertize of the operating regulatory legal acts of National Bank regarding sales opportunity of innovative banking activities and services of the Applicant within the current requirements of regulatory legal acts of National Bank.

12. If during consideration of the Request it is determined that provisions of regulatory legal acts of National Bank do not interfere with rendering service, to the Applicant (Coapplicant) the corresponding explanation goes.

13. By consideration of the Request the National Bank can request the additional information from the Applicant (Coapplicant) for ensuring completeness and accuracy of the information within the Request according to requirements of this provision, with establishment of term of provision of information.

14. To the Applicant (Coapplicant) the letter with refusal in creation of the special regulating mode with indication of causes of failure is sent if following the results of consideration of the request discrepancy of the Applicant (Coapplicant) to the requirements established by this Provision is revealed or it is revealed:

- substantial risks regarding violation of the rights and/or consumer interests of banking activity and service;

- the substantial operational risks and risks connected with financing of terrorist activities and legalization (washing) of the criminal income;

- availability of false information and information in the provided documents;

- availability of the similar banking activity rendered or used according to the legislation of the Kyrgyz Republic;

- recognition of the service/transaction offered for testing not corresponding to the criteria specified in Item of 1 this provision. 

14-1. Reception of applications on creation of the special regulating mode for testing bank transactions and service which are provided already by other subject(s) within the special regulating mode is performed with additional provision of the following information:

a) complex assessment of factors (SWOT analysis) offered for testing of transaction and service in comparison by already operating special regulating modes, the testing similar transactions and services. Minimum disclosure of components of complex assessment of factors (SWOT analysis) is required:

- S - strengths, with the description of benefits of parallel testing of transactions and services which are provided by other subject(s) within the special regulating mode;

- W - weaknesses, with the description of difficulties of parallel testing of transactions and services which are provided by other subject(s) within the special regulating mode;

- O - possibilities of external environment, with the description of result of implementation of innovative services / technologies in the market of banking and payment services;

- T - threats of external environment, with the description of possible risks of parallel testing of transactions and services which are provided by other subject(s) within the special regulating mode;

b) offers for enhancement of regulatory legal acts of National Bank which will promote implementation of innovative services / technologies in the market of banking and payment services.

Chapter 4. Creation of the special regulating mode

15. The relevant committee or committees based on the considered documents included in structure of the Request accept/make the following decisions:

- about creation or about refusal in creation of the special regulating mode;

- about licensing on carrying out the limited list of banking activities within the special regulating mode is right;

- about determination of restrictions of the special regulating mode;

- about approval of criteria for evaluation of success based on quantitative and qualitative indexes of conducting expected testing;

- about conditions of rendering services and/or full/partial relief of participants from execution of separate requirements of regulatory legal acts of National Bank during testing;

- about establishment of conditions of cancellation of the special regulating mode;

- about authorization of structural division responsibility for carrying out the special regulating mode;

- about prolongation of term of the special regulating mode;

- about establishment of additional requirements according to economic standard rates to the Participant of the special regulating mode taking into account features of the offered transaction for testing;

- in case of successful testing about prolongation of term of the license before entering of corresponding changes into regulatory legal acts of the Kyrgyz Republic;

- about recognition successful or unsuccessful testing within the special regulating mode.

16. The authorized structural division of National Bank interacts with the Applicant and the Coapplicant (in the presence) on consideration of the Request.

17. The decision of Committee can include as well other provisions taking into account specifics of provision/application of innovative banking activities and services within the special regulating mode.

The applicant (Coapplicant) can be invited to meeting of the relevant Committee of National Bank with the presentation of the offered banking activity and/or service for testing and to provide explanations if necessary.

18. Decisions, stipulated in Item the 15th this provision, are accepted in the form of the resolution of Committee and are brought by National Bank to the attention of the Applicant and the Coapplicant (in the presence) in writing within three working days from the date of decision making.

The license for participation in the special regulating mode is granted to the Applicant within three working days from the date of adoption by Committee of the decision on issue to the Applicant of the license.

Chapter 5. Conditions of the special regulating mode

19. Within the special regulating mode concerning rendering service the following restrictions can be set:

- on number of clients (physical persons, legal entities, individual entrepreneurs without formation of legal entity) to whom the service within testing is rendered;

- on number of the transactions made in certain time by the participant of the special regulating mode when rendering services within testing;

- in the place (places) of rendering services within testing;

- on amount (limits) of obligations of the participant of the special regulating mode to clients when rendering service within testing;

- by the number of payment instruments or the signed agreements within testing;

- on the maximum amount of the transactions made by one client and/or group of the connected clients when rendering services to it/them within testing;

- on the maximum amount (limit) of the transactions made when rendering services within testing for the fixed period of time (during the day, weeks, month, quarter, year);

- other restrictions to the tested banking activity and service determined by the decision of Committee on the basis of the accompanying banking activity and service of risks.

20. Within the special regulating mode the following obligations of the Participant of the special regulating mode can be established by Committee:

- the additional reporting connected with rendering the tested banking activity and service;

- the admission of representatives of National Bank within recurring inspections on places, target checks, and also the admission to information systems of the Participant of the special regulating mode for receipt of information connected with rendering the tested banking activity and service including for the Participant who is not person, the person under surveillance to National Bank;

- the consumer notification that banking activity and service is rendered in the test mode and about opportunity the termination of the test mode within 1 (one) working day from the moment of cancellation of the license by National Bank and the notification of the Participant;

- unconditional compensation of all financial liabilities on banking activities and services;

- development of mechanisms of the dispute resolution and finishing it to data of consumers;

- other obligations, taking into account specifics of provision of innovative banking activity and service. 

20-1. When carrying out the special regulating mode Participants shall observe requirements for realization of policy "know the client" and requirements in the field of counteraction to financing of terrorism and legalization (washing) of the criminal income, maintaining confidentiality and personal data protection of clients, protection of the rights and consumer interests and safety of carrying out transactions.

21. If testing of banking activity and service according to the specification are not begun within 6 (six) months from the moment of receipt of the license, is terminated the license. The termination letter of action of the license goes National Bank to the Participant of the special regulating mode.

22. If the Applicant performs other licensed activities, after decision making of Committee about start of the special regulating mode the National Bank can send the relevant information to the address of state bodies. Information on the held testing also goes to the regulating and supervising state bodies of the Applicant and Coapplicant (in the presence). The National Bank has the right to request information from the regulating and supervising state bodies of the Applicant and Coapplicant (in the presence), and also to interact with them otherwise according to the legislation of the Kyrgyz Republic.

22-1. Within the special regulating mode the National Bank has the right to carry out scheduled / unscheduled inspection inspections according to the procedure and the terms established by regulatory legal acts of National Bank on inspection checks including the persons who are not persons under surveillance to National Bank, obtained the license for banking operations within the special regulating mode and provided consent according to Appendix 1-1 to this Provision.

23. Duration of testing can constitute up to 12 months.

24. Not later than 30 calendar days before the end date of testing specified in the license, the Participant of the special regulating mode can file the written application in National Bank about prolongation of testing and specifying of the reasons for which such prolongation is reasonable with appendix of the report according to Item of 31 this provision. Such application is considered in time, not exceeding 15 working days.

In case of prolongation of term of testing the additional decision of Committee with indication of new end date of testing is passed. The additional decision of Committee on prolongation of term of testing can be made no more than 1 (one) time and lasting not more than 6 (six) months. The conditions of prolongation of terms of testing specified in the decision of Committee shall conform to requirements of this provision.

25. The test conditions specified in the decision of Committee shall conform to requirements of this provision.

Chapter 6. Suspension and cancellation of the license

26. The participant of the special regulating mode has the right to begin testing with the date specified in the license.

27. The National Bank has the right to suspend the license for participation in the special regulating mode in case of identification of non-compliance by the participant of the special regulating mode of conditions of rendering services and/or representation of the technologies provided by conditions of the special regulating mode.

28. In case, stipulated in Item the 27th this provision, National Bank are sent to the Participant of the special regulating mode by the adequate notice about suspension of action of the license before elimination of violations to the terms established by National Bank.

29. The National Bank sends the decision on the termination of testing to the address of the Participant of the special regulating mode and revokes the license, with indication of the termination reasons, in case:

- identifications of the facts of unauthenticity of data and/or on lack of possibility of provision of the data specified in the request within the special mode of regulation;

- identifications systematic (two and more times during testing) non-compliance by the Participant of the special regulating mode of conditions of rendering services and/or representation of the technologies provided by conditions of the special regulating mode, and also identification of negative effects for consumers and/or financial stability of the Participant;

- if testing of banking activity and/or service is not begun, including in connection with specifications, after 6 (six) months from the date of receipt of the license.

- after the term of the testing specified in the license;

- after terms according to Items 21 and 24 of this provision;

- obtaining from the Participant of the special regulating mode of request about the termination of testing and exit from the special regulating mode with indication of term and the reasons of the end of testing;

- testing recognitions by unsuccessful.

30. In testing termination cases the participant of the special regulating mode shall stop implementation of the operations performed within testing and to hand over the license for the right of carrying out the limited list of banking activities within the special regulating mode within 1 (one) working day after receipt of the corresponding decision / notification of National Bank, and also to realize the measures provided in case of exit from testing according to conditions of the special regulating mode.

Chapter 7. Summing up testing

31. In time no later than 30 calendar days before the termination of term of the license or in case of achievement of the criteria with quantitative and qualitative indexes of testing established in the specification, the Participant of the special regulating mode sends to National Bank the report on results of testing (further - the report) including:

- information on the period (beginning/completion) of provision of services;

- information on the quantitative and qualitative indexes reached during testing according to specified in the conditions of the specification and the reasons of discrepancy (in the presence);

- the description of problems which the Participant of the special regulating mode faced during testing and the taken measures;

- assessment of demand of service by consumers;

- specifying on provisions of regulatory legal acts which can interfere with further rendering service;

- data on the facts of claims of the consumers connected with rendering service;

- data on the risks which are implemented during testing and the taken measures;

- the filled form according to Appendix 4 this provision;

- offers on further normative regulation of banking activity;

- offers on further normative regulation of banking activity, including on risk minimization.

32. Within 25 calendar days after receipt of the Report the Committee gets acquainted with the Report, and also with the conclusion of the representative of structural division of National Bank.

33. If by results of testing the Participant of the special regulating mode did not reach the criteria with quantitative and qualitative indexes specified in the solution of the special regulating mode based on the conclusion of the representative of structural division of the Committee National Bank gives the corresponding assessment of participation in testing.

At the same time the Participant of the special regulating mode provides written information to National Bank about the discrepancy reasons with the planned indicators.

34. If by results of testing the Participant of the special regulating mode, including Participants of simultaneous testing reached the quantitative and high-quality criteria specified in the conditions of the special regulating mode based on the conclusion of the representative of structural division Committee recognizes testing successful.

35. If testing acknowledged unsuccessful, is forbidden to the Participant of the special regulating mode, including Participants of simultaneous testing further provision of innovative banking activities and services which passed test within the special regulating mode. The license for participation in the special regulating mode is terminated.

35-1. In case of cancellation of the license Participant, including Participants of simultaneous testing shall:

1) within 1 (one) working day to notify participants/users of suppliers of goods/services on the termination of rendering transactions/services within the special regulating mode;

2) in the terms established by Committee to complete payments/obligation fulfillment before participants/consumers and suppliers of goods/services (third parties) and to immediately stop the licensed type of activity;

3) within 3 (three) working days from the date of receipt of the termination letter of action of the license to hand over the license in National Bank.

The National Bank publishes information on cancellation of the license on the official website of National Bank.

35-2. The participant before delivery of the corresponding license in National Bank shall satisfy agreement(s) conditions, complete the payments and fulfill financial liabilities before participants/consumers and suppliers of goods/services (third parties) and to stop the licensed type of activity, according to the legislation of the Kyrgyz Republic.

In case of delivery of the license shall provide to the Participant National Bank in paper form of the copy of acts of reconciliations of completion of calculations before the third parties, copies of the documents confirming completion of settlement with other participants for provision of the corresponding services.

36. If testing acknowledged successful, Committee takes out the recommendation to the relevant structural division of National Bank on project development of regulatory legal act of the National Bank excluding obstacle to rendering services/technology, passed test. Rendering services within the special regulating mode can continue based on prolongation of term of the license before entering of corresponding changes into the legislation. In case of prolongation of terms of the special regulating mode for introduction of amendments to the legislation by Committee additional conditions / restrictions for continuation of rendering services in the conditions of the special regulating mode can be established.

Chapter 8. Ensuring publicity of the special regulating modes

37. For the purpose of ensuring publicity of functioning of the special regulating modes the National Bank posts the register of the special regulating modes on the official website.

38. The register of the special regulating modes joins the following information on participants of the special regulating modes:

- name of the Participant(s) of the special regulating mode;

- the list of the performed banking activities on which the license within the special regulating mode is granted;

- registration number of the Participant of the special regulating mode and details of the license;

- website of the Participant(s) of the special regulating mode (in the presence) and its contact information (including e-mail address);

- approval date of the special regulating mode;

- the start date of testing specified in the special regulating mode;

- the end date of testing specified in the special regulating mode (and also in case of testing prolongation specifying on prolongation of the period of testing).

39. Information specified in Item 38 of this provision joins in the register of National Bank no later than three working days after approval of the decision on licensing for participation in the special regulating mode.

Chapter 9. Procedure for appeal of decisions of National Bank

40. The decisions made by National Bank within this provision can be appealed according to Regulations on pre-judicial regulation of disputes between the National Bank of the Kyrgyz Republic and commercial banks, the organizations performing separate types of banking activities, and their founders (participants), legal entities and physical persons, approved by the resolution of Board of National Bank of May 17, 2017 No. 19/13.

41. The acts of National Bank adopted within this provision (except for resolutions of Committee, Board of National Bank and the license), do not require assurance by seals. The decisions made according to this Provision can be brought to the attention the corresponding persons (applicants) by the direction of the letter by authorized structural division of National Bank.

Appendix 1

to the Provision "About the Special Regulating Mode"

National Bank of the Kyrgyz Republic

from _______________________

Statement

I ask you to consider the application on creation of the special regulating mode for

_______________________________________________________________________________

                                           (complete name and legal address)

for testing of the following banking activity and the service ____________________________

_______________________________________________________________________________

                         (the short description of the planned banking activity and service)

1. Data on founders:

_______________________________________________________________________________

Structure of executive body (full name of the head, finance director,

the chief accountant, the technical director or person performing their functions).

_______________________________________________________________________________

2. The contact person for more information, the concerning this

requests: (Full name, position, phone, e-mail address of the contact person).

3. Information on the Coapplicant's availability: (full name and legal address

Applicant (Coapplicant).

4. Are enclosed to this application:

_______________________________________________________________________________

 

Signature of the head and seal of the organization

 

"___" ______________________ 20 __.

Appendix 1-1

to the Provision "About the Special Regulating Mode" National Bank of the Kyrgyz Republic

from __________________________

№__________________________

The written consent to implementation of scheduled/unscheduled inspection inspections on places within the special regulating mode from National Bank of the Kyrgyz Republic

_________________________ (the name of the legal entity) on behalf of _____________________ (full name, the passport No., is issued), being the head (chairman of the board) _____________________, authorized by the charter _____________________ or the solution of management (board/board of directors), within the statement on creation of the special regulating mode in National Bank of the Kyrgyz Republic agrees to implementation of scheduled/unscheduled inspection inspections on places within the special regulating mode from National Bank of the Kyrgyz Republic and on provision at the request of National Bank of documents and information at the scheduled time.

FULL NAME

Signature of the head and seal of the organization

"___" _______________________ 20 __.

Appendix 2

to the Provision "About the Special Regulating Mode"

INFORMATION ON THE APPLICANT
Full name of the organization
Legal and actual addresses of the organization
Details of the certificate on state registration of the organization
Date of issue of the certificate
Identification Taxpayer Number (ITN)
Website of the organization (in the presence)
Availability of other allowing documents from other state bodies
Full name and position of the contact person Zayavitelya
E-mail address of the contact person Zayavitelya
Phone of the contact person Zayavitelya
INFORMATION ON THE COAPPLICANT
Full name of the organization
Legal and actual addresses of the organization
Details of the certificate on state registration of the organization
Date of issue of the certificate
Identification Taxpayer Number (ITN)
Website of the organization

Appendix 3

to the Provision "About the Special Regulating Mode"

INFORMATION ON INNOVATIVE SERVICE / TECHNOLOGY
The detailed description of the offered innovative service / technology (the graphical/schematical form is applied)	Description of banking activity and service
Description of business process of rendering innovative service / sale of innovative technology	The description of business process, is also attached the graphical description of business process
The description of innovation of service/technology for the market. What expected positive social and economic effects?	Difference of the offered banking activity and service from other banking activities and services rendered in the market, or new technology of provision of banking activity and service. Instruction on positive effects from rendering service, with indication of quantitative indices
The description of rendering identical innovative service / technology outside the local market (in case of its availability) or specifying on lack of such experience	The detailed description of practice of rendering identical banking activities and services in the local market, and also outside the local market and/or specifying on lack of such practice, detailed competitor analysis, products/services. It is necessary to calculate the following metrics: - profitability of product (ROI); - marginality; - profitability on assets (ROA); - amount of sales/services; - market share; - assessment of level of customer satisfaction (CSAT); - the predicted comprehensive income got from the client for the entire period of its interaction with product; - growth rates of client base; - speed of implementation (Time-to-Market); - operating efficiency; - reliability and availability (System Uptime);
Provisions of regulations of National Bank which interfere with rendering innovative service / technology without creation of the special regulating mode	Excerpts from the corresponding regulatory legal acts with references to regulating documents
Other circumstances which interfere with rendering innovative service / technology without creation of the special regulating mode	It is specified in the presence
The description of the risks connected with rendering/realization of innovative service / technology	The description of risk with indication of: - risk level (low, average, high, critical); - risk minimization methods. Each risk shall be described separately on the above-stated structure, at the same time the risk of information security shall be described with disclosure of proposed measures on their minimization or exception
The list of restrictions which can be established within testing or gaps which are subject to completion	The description of restrictions which can be established within testing for decrease in potential risks
The description of technical readiness for rendering innovative service / technology	The description of technical readiness and the used technology taking into account measures for ensuring information security
Testing duration	No more than 12 months
List of criteria of success of testing	The description of criteria according to which assessment of success of testing can be carried out
Information on the offered distribution of functions between the Applicant and the Coapplicant (in the presence)	Short description of functions of the Coapplicant (in the presence)
Procedure for the termination of testing	Procedure for customer service or agreement cancelation, return of means and other actions in case of testing completion

 

Appendix 4

to the Provision "About the Special Regulating Mode"

The list of indicators for assessment of success of the project by results of testing:

1. General indicators:

1.1. number of clients - physical persons;

1.2. number of clients - entrepreneurs without formation of legal entity;

1.3. number of clients - legal entities;

1.4. share of active clients (clients who used service at least once for last month);

1.5. share of the clients who underwent identification;

1.6. customer satisfaction level (on the basis of satisfaction index, in partial selection, by results of questioning/poll);

1.7. level of the price of service in comparison with similar services in the market.

2. Indicators for projects in the field of payments and money transfers:

2.1. amount of the transactions made with use of technology;

2.2. the average amount of the transactions made with use of one payment instrument - by general client base and among active clients;

2.3. average of the transactions made with use of one payment instrument (within one month) - by general client base and among active clients;

2.4. number of the payment instruments provided to clients;

2.5. average cost of transaction for the payer;

2.6. average cost of transaction for the receiver;

2.7. average monthly rates of surplus of amount of transactions;

2.8. the relation of amount of transactions on making payment to transactions on cash withdrawal of money;

2.9. share of the transactions disputed by clients (on number of transactions);

2.10. share of the transactions disputed by clients (on amount of transactions);

2.11. the share of the disputed transactions compensated to clients (on number of transactions);

2.12. the share of the disputed transactions compensated to clients (on amount of transactions).

3. Indicators for projects in the field of crediting:

3.1. the total amount of the issued credits (loans);

3.2. total number of the issued credits (loans);

3.3. the average size of the approved credit (loan);

3.4. share of the approved loan applications (loan);

3.5. share of the clients who allowed delays on payment;

3.6. the average size of debt on the issued credits (loans);

3.7. the total amount of debt on the issued credits (loans);

3.8. the average time of decision making about issuance of credit (loan).

4. Other indicators established by Committee within creation of the special regulating mode.

 

Appendix 5

to the Provision "About the Special Regulating Modes"

National Bank of the Kyrgyz Republic

The license No. for the right of carrying out banking activities within the special regulating mode

__________________________________________________________________

(full trade name of the legal entity)

__________________________________________________________________

(the reduced trade name of the legal entity)

___________________

1. Has the right to perform the transactions specified in the specification to this license according to the legislation of the Kyrgyz Republic.

2. Integral part of this license is the specification on the right of carrying out certain transactions.

This license becomes effective from the date of its signing. License effective period - 12 months from the date of its signing.

Person is entered in the register of the legal entities of the Kyrgyz Republic performing testing of banking activities and services within the special regulating mode (date, month, year).

The license is registered (date, month, year).

No. _______________ _______________ form series

Deputy chairman/board member of National Bank

_____________________________________________ full name, signature

Seal of National Bank

 

Appendix 6

to the Provision "About the Special Regulating Mode"

National Bank of the Kyrgyz Republic the specification to the license for the right of conducting testing of banking activities and services within the special regulating __________________________________________________________________ mode (full trade name of the legal entity, further - the Participant)

1. The name and the description of banking activities and services within the special regulating mode

…

2. Restrictions within the special regulating mode for the right of conducting testing of banking activities

…

3. The list of the obligations entered concerning the participant of the special regulating mode

…

4. The list of criteria with quantitative and qualitative indexes for assessment of success of testing

…

5. Reporting form

…

6. Operations procedure of the participant of the special regulating mode in case of the testing termination

…

This specification is integral part of the license.

Deputy chairman/board member of National Bank

_____________________________________ full name, signature

Seal of National Bank".

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info