RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of July 31, 2014 No. 34/11

About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Separate Transactions / Transactions of Commercial Banks and Microfinance Companies of the Kyrgyz Republic with the Real Estate" of August 29, 2012 No. 36/2

According to articles 7 and 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Separate Transactions / Transactions of Commercial Banks and Microfinance Companies of the Kyrgyz Republic with the Real Estate" of August 29, 2012 No. 36/2" the following changes and amendments:

in the Regulations on separate transactions / transactions of commercial banks and microfinance companies of the Kyrgyz Republic with the real estate approved by the above-stated resolution:

- add Item 35 with the offer of the following content:

"Acquisition of real estate by bank for the purposes of leasing is not allowed.";

- state Item 37 in the following edition:

"37. The bank has the right to hand over in the lease/sublease both the separate not used bank rooms, and part of the squares of the not used bank rooms isolated from occupied by bank and having separate entrance for the lessee, in case of observance of conditions of technical reinforcement and other established requirements for safe engineering of operation of non-residential premises. Banks shall notify in writing Management of external supervision of National Bank on each case of delivery in the lease/sublease of not used bank rooms and/or replacements of lessees with indication of information on the lessee/subtenant and lease term.";

- exclude Item 37-1.

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

3. To legal management:

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