RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of April 12, 2023 No. 2023-P-14/23-4-(PS)

About introduction of amendments to the Resolution of Board of National Bank of the Kyrgyz Republic "About approval of Rules of implementation of money transfers on money transfer systems in the Kyrgyz Republic" of July 15, 2009 No. 30/6

According to Articles 5, "About National Bank of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides 9 and 64 constitutional Laws of the Kyrgyz Republic:

1. Make changes to the resolution of Board of National Bank of the Kyrgyz Republic "About approval of Rules of implementation of money transfers on money transfer systems in the Kyrgyz Republic" of July 15, 2009 No. 30/6 (are applied).

2. This resolution becomes effective after 15 (fifteen) days from the date of official publication.

3. To legal management:

- from the date of receipt of the relevant documents within 3 (three) working days to 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 inclusion in the State register of regulatory legal acts of the Kyrgyz Republic.

4. To management of payment systems after official publication within 3 (three) working days to bring this resolution to the attention of commercial banks and operators of money transfer systems.

5. To department "Secretariat of Board" to bring this resolution to the attention of management of banking supervision, regional managements and Representative office of National Bank of the Kyrgyz Republic in Batken Province.

6. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising management of payment systems.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of April 12, 2023 No. 2023-P-14/23-4-(PS)

Changes in the Resolution of Board of National Bank of the Kyrgyz Republic "About approval of Rules of implementation of money transfers on money transfer systems in the Kyrgyz Republic" of July 15, 2009 No. 30/6

Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of Rules of implementation of money transfers on money transfer systems in the Kyrgyz Republic" of July 15, 2009 No. 30/6 the following changes:

in Rules of implementation of the money transfers on money transfer systems in the Kyrgyz Republic approved by the above-stated resolution:

- state Item 3.2-1 in the following edition:

"3.2-1. The National Bank cancels registration of operator of money transfer system and enters the corresponding record in the register of operators of money transfer systems in the following cases:

1) in case of response/cancellation at the operator of money transfer system of allowing documents, the license/certificate/registration certificate on the right of implementation of activities of the operator of the money transfer systems issued by the authorized body on financial supervision of country of source which is licensing/regulating the specified activities;

2) in case of giving by the operator of money transfer system of the statement for its exception of the register of operators of money transfer systems in National Bank or other written notice of the termination of implementation of activities of the operator of money transfer system by it in the territory of the Kyrgyz Republic. The operator of the international money transfer system provides the plea of nullity of registration and exception of the register only after making of final settlement with members of payment service provider. The operator of local money transfer system provides the plea of nullity of registration and exception of the register only after making of final settlements in money transfer system taking into account all settlement with receivers/senders of money transfers and participants of system.

The National Bank in writing notifies the operator of money transfer system, commercial banks of the Kyrgyz Republic and other interested persons on registration cancellation, and also posts information on cancellation of registration on the official website.

The operator of money transfer system shall stop rendering services in money transfer systems in the territory of the Kyrgyz Republic no later than day of exception by National Bank it from the corresponding register and placement of information on it on the official website.".

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