of December 5, 2001 No. 46/3
About the draft of the Instruction for acceptance, storage and issue of precious metals in commercial banks of the Kyrgyz Republic
Having considered the draft of the Instruction for acceptance, storage and issue of precious metals in commercial banks of the Kyrgyz Republic, the Board of National Bank of the Kyrgyz Republic decides:
1. Approve the Instruction for acceptance, storage and issue of precious metals in commercial banks of the Kyrgyz Republic it (is applied) and to enact from the moment of signing.
2. To management of methodology of supervision and licensing of National Bank of the Kyrgyz Republic to bring this resolution to the attention of commercial banks and other financial credit institutes, the licensed NBKR, structural divisions and regional (regional) managements of NBKR.
3. To impose control of execution of this resolution on Sharshekeeva K. Sh., vice-chairman of National Bank of the Kyrgyz Republic.
Chairman of the board
Sarbanov U. K.
Approved by the Resolution of National Bank of the Kyrgyz Republic of December 5, 2001 No. 46/3
1.1. This instruction establishes the minimum requirements on acceptance, storage and issue of precious metals in commercial banks of the Kyrgyz Republic, and also is designed to render banks assistance in risk minimization when implementing such activities.
1.2. The basic rules of work with precious metals are:
- respect for the principle of four eyes;
- storage of values under double control;
- sudden audits of precious metals;
- reconciliation at the end of the day of remaining balance of precious metals with data of accounting.
1.3. Precious metals can be stored in the certain or same room with cash. If precious metals are stored in the certain room from cash, requirements to equipment and characteristics of such room shall be at least than the parameters of cash storages.
1.4. If precious metals are stored in the same room with cash, then they shall be in safes separately from other values.
1.5. The room (storage) where precious metals are stored, shall be regime and movements on it shall be limited. The list of persons having access to such room is drawn up by the order on bank.
1.6. The head of bank, the head responsible for the organization and implementation of cash transactions, the head responsible for the organization and implementation of financial accounting, are responsible persons and bear responsibility for safety of precious metals. Powers and responsibility of the head of bank can be transferred to other responsible official.
1.7. Movement of precious metals shall be made in assistance at least three independent divisions which perform cash transactions, the financial accounting authorizing transactions with precious metals and responsible for safety (further security service of bank).
2.1. The division authorizing transactions with precious metals, independently or through security service of bank beforehand prepares traffic route and delivery time of precious metals. At the same time Management of collection or other bodies can be involved, authorized to carry out collection of values.
2.2. Acceptance of precious metals is performed according to orders of the division manager authorizing transactions with precious metals or other authority and also accompanying documents and happens in the presence of the staff of the division authorizing transactions with precious metals.
2.3. In case of acceptance of precious metals the staff of division of cash transactions makes their external survey, weighing and checks availability and compliance of accompanying documents to characteristics accepted values. Accompanying documents for standard ingots are the specification and the certificate, and for measuring ingots - the specification, the passport, the certificate.
2.4. After weighing of precious metals and verification of accompanying documents in the presence of the staff of the division authorizing transactions with precious metals, divisions of cash transactions and representatives of deliverers the acceptance report is drawn up.
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