RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of February 2, 2007 No. 6/1

About the Instruction "About financing limits when implementing JSC Ekobank of transactions according to the Islamic principles of banking"

Having considered the draft of the Instruction "About financing limits when implementing JSC Ekobank of transactions according to the Islamic principles of banking", being guided by articles 7 and 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", the Provision "About Realization of the Islamic Principles of Financing in the Kyrgyz Republic within Pilot Project" (it is approved by the resolution of Board of NBKR No. 32/2 of 30.10.2006, it is registered by the Ministry of Justice of the Kyrgyz Republic No. 120-06 of 30.11.2006), the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Instruction "About financing limits when implementing JSC Ekobank of transactions according to the Islamic principles of banking" it (is applied).

2. Send this resolution to the Steering committee created within implementation of the Memorandum of understanding between the Kyrgyz Republic, Islamic Development bank and Ekobank concerning implementation of Islamic banking and financing in the Kyrgyz Republic of May 16, 2006.

3. To management of methodology of supervision and licensing together with Legal department to carry out in accordance with the established procedure state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic.

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