RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 30, 2016 No. 15/2

About entering of amendments and changes into the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Licensing of Activities of Banks" of March 2, 2006 No. 5/7

According to articles 7 and 43 of the Law "About National Bank of the Kyrgyz Republic" 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 Licensing of Activities of Banks" of March 2, 2006 No. 5/7 of amendment and change (are applied).

2. This resolution becomes effective after fifteen days after official publication.

3. To legal management:

- publish this resolution on the official site 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 to bring this resolution to the attention of commercial banks of the Kyrgyz Republic.

5. To impose control of execution of this resolution on the board member of National Bank of the Kyrgyz Republic Dzhusupova Т.Дж.

Appendix

to the Resolution of Board of National Bank of March 30, 2016 No. 15/2

Amendments and changes in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Licensing of Activities of Banks" of March 2, 2006 No. 5/7

Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Licensing of Activities of Banks" of March 2, 2006 No. 5/7 the following amendments and changes:

in the Provision "About Licensing of Activities of Banks" approved by the above-stated resolution:

- in all text of the Provision, except for Item 6. The words "thirty days" and "thirty calendar days" shall be replaced with words 4, "one month" in the corresponding case forms, and "sixty calendar days" shall be replaced with words words of "sixty days" "two months";

- in all text of the Provision of the word "payment cards" shall be replaced with words "payment cards" in the corresponding case forms;

- in paragraph one of preamble of the word "further" to replace with the word "further";

- in Item 1.1 of the word "further" to replace with the word "further";

- add Item 1.14 with the paragraph of the following content:

"Founders (shareholders) shall provide upon the demand of National Bank the above-stated information on persons having common interests with bank and its founders (shareholders).";

- in Item 1.16 after the word "savings" to add with the words "and exit";

- in Item 1.20:

in subitem 14 of the word "for the company" to exclude;

state subitem 15 in the following edition:

"15) rendering the consulting and information services connected with the main activities of the subsidiary or dependent companies of bank.";

- declare Item 2.6 invalid;

- the subitem and) the subitem 16 of Item 3.4 to state in the following edition:

"a) procedures for identification, assessment, control and monitoring of all possible risks to which the bank is subject;";

- in paragraph one of Item 4.5 of the word of "board members, the chairman of the board, the deputy(deputies) chairman of the board who is responsible for credit activities, the chairman of Committee on audit of board members, the chief accountant, the head of credit department and the head of service of internal audit" shall be replaced with words ", specified in Item 13.1 of this provision,";

- declare Item 4.6 invalid;

- state Item 5.8 in the following edition:

"5.8. Within one month after forming of the minimum authorized capital the National Bank performs check of forming of the authorized capital of bank.

Check of increase in the authorized capital of bank can be performed within complex and target checks of National Bank.";

- in Item 5.10:

the paragraph one to state in the following edition:

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