RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 27, 2024 No. 2024-P-12/71-4-(NPA)

About approval of the Provision "About the Minimum Requirements to the Code of Corporate Governance of Commercial Banks of the Kyrgyz Republic"

According to Articles 5, of 9, "About National Bank of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides 40 and 64 constitutional Laws of the Kyrgyz Republic:

1. Approve the Provision "About the Minimum Requirements to the Code of Corporate Governance of Commercial Banks of the Kyrgyz Republic" it (is applied).

2. Recognize to invalid:

1) the resolution of Board of National Bank of the Kyrgyz Republic "About the Provision "About Corporate Management in the Banks of the Kyrgyz Republic Performing Transactions according to the Islamic Principles of Banking and Financing" of November 30, 2011 No. 67/9;

2) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in some resolutions of Board of National Bank of the Kyrgyz Republic" of February 10, 2016 No. 7/2:

- paragraph of the twenty sixth of Item 1;

- Item 25 of Appendix to the above-stated resolution;

3) the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Corporate Management in Commercial Banks of the Kyrgyz Republic" of May 17, 2017 No. 19/12;

4) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic" of May 31, 2017 No. 21/10:

- Item 1 paragraph two;

- Item 1 of Appendix to the above-stated resolution;

5) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic" of June 20, 2018 No. 2018-P-12/24-1-(NPA):

- paragraph third Item 1;

- Item 2 of Appendix to the above-stated resolution;

6) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic" of June 28, 2019 No. 2019-P-12/34-3-(NPA):

- paragraph of the sixth of Item 1;

- Item 5 of Appendix to the above-stated resolution;

7) in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About the Minimum Requirements to the Organization of Internal Control in Commercial Banks for the purpose of Counteraction to Financing of Terrorist Activities and to Legalization (Washing) of the Criminal Income", the Provision "About Procedure for Carrying Out Exchange Transactions with Cash Foreign Currency in the Kyrgyz Republic" and modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic concerning counteraction to financing of terrorist activities and to legalization (washing) of the criminal income" of August 14, 2019 No. 2019-P-12/42-1-(NPA):

- paragraphs the ninth and sixteenth Item 3;

- Items 8 and 15 of Appendix to the above-stated resolution;

8) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic" of October 30, 2019 No. 2019-P-12/54-3-(NPA):

- paragraph third Item 1;

- Item 2 of Appendix to the above-stated resolution;

9) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification of some regulatory legal acts of National Bank of the Kyrgyz Republic" of February 26, 2020 No. 2020-P-12/8-7-(NPA):

- Item 1 paragraph two;

- Item 1 of Appendix to the above-stated resolution;

10) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification of some regulatory legal acts of National Bank of the Kyrgyz Republic concerning risk management and the capital of banks" of September 15, 2021 No. 2021-P-12/51-1-(NPA):

- paragraph the tenth Item 1;

- Item 9 of Appendix to the above-stated resolution;

11) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification of some regulatory legal acts of National Bank of the Kyrgyz Republic" of December 14, 2022 No. 2022-P-12/78-10-(NPA):

- paragraph the fourteenth Item 1;

- Item 13 of Appendix to the above-stated resolution;

12) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification of some regulatory legal acts of National Bank of the Kyrgyz Republic" of December 28, 2022 No. 2022-P-12/83-7-(NPA):

- paragraph of the sixth of Item 1;

- Item 5 of Appendix to the above-stated resolution;

13) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification of some regulatory legal acts of National Bank of the Kyrgyz Republic" of December 20, 2023 No. 2023-P-12/80-3-(NPA):

- paragraph of the seventh of Item 1;

- Item 6 of Appendix to the above-stated resolution;

14) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification and recognition voided some resolutions of Board of National Bank of the Kyrgyz Republic concerning activities of JSC National Bank of Development of January 17, 2024 No. 2024-P-12/1-3-(NPA):

- subitem 21 of Item 1;

- Item 21 of Appendix to the above-stated resolution.

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

4. 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 entering into the State register of regulatory legal acts of the Kyrgyz Republic.

5. To department "Secretariat of Board" within 3 (three) working days from the date of adoption of this resolution to bring it to the attention of management of methodology of supervision, management of banking supervision, legal management, regional managements and Representative office of National Bank of the Kyrgyz Republic in Batken Province.

6. To management of methodology of supervision within 3 (three) working days from the date of official publication of this resolution to bring it to the attention of commercial banks and OYuL "Union of Banks of Kyrgyzstan".

7. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising the supervising block.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of December 27, 2024 No. 2024-P-12/71-4-(NPA)

Provision "About the Minimum Requirements to the Code of Corporate Governance of Commercial Banks of the Kyrgyz Republic"

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