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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of May 31, 2017 No. 21/5

About approval of the Instruction "About requirements to transactions of bank with the affiliated and tied with bank faces"

(as amended on 28-12-2020)

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. Approve the Instruction "About requirements to transactions of bank with the affiliated and tied with bank faces" it (is applied).

2. Recognize invalid:

- the resolution of Board of National Bank of the Kyrgyz Republic "About requirements to transactions with insiders and affiliates of the commercial banks and other financial credit institutes licensed by NBKR" of December 10, 2003 No. 34/10;

- Item 6 of the resolution of Board of National Bank of the Kyrgyz Republic "About new edition of the Instruction "About crediting restrictions" of September 15, 2004 No. 24/4;

- the Section II of the changes and amendments in some regulations of National Bank of the Kyrgyz Republic approved by the resolution of Board of National Bank of the Kyrgyz Republic "About some regulatory legal acts of National Bank of the Kyrgyz Republic" of August 25, 2005 No. 26/5;

- the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic "About requirements to transactions with insiders and affiliates of the commercial banks and other financial credit institutes licensed by NBKR" of December 10, 2003 No. 34/10 "of September 25, 2007 No. 43/4;

- Item 3 of 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 10, 2009 No. 26/2 and Item 3 appendices to the specified resolution;

- the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic "About requirements to transactions with insiders and affiliates of the commercial banks and other financial credit institutes licensed by NBKR" of December 10, 2003 No. 34/10, registered in the Ministry of Justice of the Kyrgyz Republic on January 5, 2004, registration number 2-04" of November 25, 2009 No. 47/4;

- Item 12 of Appendix to 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 November 16, 2012 No. 43/1;

- 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 April 24, 2013 No. 13/9:

paragraph one of Item 1 of the resolution;

Item of 1 changes and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic approved by the above-stated resolution;

- 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 second of Item 1 of the resolution;

Item 21 of Appendix to the above-stated resolution.

3. This resolution becomes effective on June 22, 2017.

4. 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.

5. To management of methodology of supervision and licensing to bring this resolution to the attention of commercial banks, National bank of development of the Kyrgyz Republic, OYuL "Union of Banks of Kyrgyzstan", 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 National Bank of the Kyrgyz Republic Dzhusupova T.Dzh.

Chairman of the board of National Bank of the Kyrgyz Republic

T. Abdygulov

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of May 31, 2017 No. 21/5

The instruction about requirements to transactions of bank with the affiliated and tied with bank faces

1. General provisions

1. This Instruction is developed for the purpose of establishment of requirements to activities of the banks including performing activities according to the Islamic principles of banking and financing, the banks having Islamic window, JSC Finance Company of Credit Unions and National bank of development of the Kyrgyz Republic (further - bank), when implementing transactions and transactions with the affiliated and tied with bank faces.

2. The bank shall keep the register of the affiliated and tied with bank faces, easy access to which shall be provided for employees of National Bank of the Kyrgyz Republic (further - National Bank). The register of the affiliated and tied with bank faces, at least, shall contain data on the surname, name, middle name of the official of bank held by it position in bank, surname, name and middle name of the related person who is the close relative, degree of his relationship with the official (parents, the spouse (a), etc.). Maintaining the register in electronic form is allowed provided that in banks the security system ensuring safety of information is installed.

3. The relations of person, affiliated with bank, can be traced on communications of the companies and persons, the relations between which are based on ownership of threshold equity participation of bank, regardless of the number of affiliates.

4. In case of attraction of money by bank, the member of banking group (the deposit/credit and other assets bearing in themselves credit risk), the relevant contract for attraction of money from mother company, the member of banking group or any other foreign company / participant of banking group shall contain condition about the obligatory notification of National Bank about early agreement cancelation in 30 working days prior to its termination. At the same time the initiator of the notification shall be that member of banking group who is person under surveillance to National Bank.

2. Procedure of transactions and transactions

5. The bank has no right to credit (further including issue of financing according to the Islamic principles of banking and financing) the affiliated or tied with bank faces if any of the listed below conditions takes place:

1) in the presence of the current losses on the last reporting date;

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