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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of August 14, 2019 No. 2019-P-12/42-1-(NPA)

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

(as amended on 15-09-2021)

According to articles 20 and 68 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides:

1. Approve 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" (Appendix 1).

2. Approve the Provision "About Procedure for Carrying Out Exchange Transactions with Cash Foreign Currency in the Kyrgyz Republic" (Appendix 2).

3. Make changes and additions to the following resolutions of Board of National Bank of the Kyrgyz Republic (Appendix 3):

- "About approval of the Instruction for work with bank accounts, accounts on bank deposits (deposits)" of October 31, 2012 No. 41/12;

- "About approval of the Instruction for provision of the Kyrgyz Republic by commercial banks to clients of individual bank safe deposit boxes" of September 12, 2012 No. 37/2;

- "About establishment of requirements for determination of subjects and the list of offshore zones" of April 16, 2003 No. 13/2;

- "About approval of the Instruction about implementation of banking supervision" of June 20, 2018 No. 2018-P-12/24-2-(NPA);

- "About the Provision "About the Corrective Actions Applied to the Banks and Some Other Financial Credit Institutions Licensed by National Bank of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-4-(NPA);

- "About approval of the Provision "About Direct Banking Supervision" of May 28, 2008 No. 22/4;

- "About some regulatory legal acts of National Bank of the Kyrgyz Republic" of September 14, 2011 No. 52/4;

- "About approval of the Provision "About Corporate Management in Commercial Banks of the Kyrgyz Republic" of May 17, 2017 No. 19/12;

- "About approval of the Provision "About the Minimum Requirements on Risk Management in Banks of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-8-(NPA);

- "About approval of Rules of forming of internal control system and internal audit in the banks and non-bank financial credit institutions licensed and regulated by National Bank of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-3-(NPA);

- "About approval of the Regulations on the minimum requirements to external audit of the banks and other financial credit institutions licensed by National Bank of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-2-(NPA);

- "About the List of the main documents which are formed in activities of the commercial banks and financial credit institutions licensed by National Bank of the Kyrgyz Republic with indication of storage durations" of August 27, 2004 No. 22/9;

- "About the Provision "About Realization of the Islamic Principles of Financing in the Kyrgyz Republic within Pilot Project" of October 30, 2006 No. 32/2;

- "About approval of the Provision "About the Transactions Performed according to the Islamic Principles of Banking and Financing" of September 23, 2009 No. 38/8;

- "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;

- "About approval of the Provision "About the Minimum Requirements on Risk Management in the Banks Performing Transactions according to the Islamic Principles of Banking and Financing" of July 18, 2018 No. 2018-P-12/30-3-(BS).

4. Recognize invalid:

1) the resolution of Board of National Bank of the Kyrgyz Republic "About the Provision "About the Minimum Requirements to the Organization of Internal Control in the Commercial Banks and Other Financial Credit Institutes Licensed by NBKR for the purpose of Counteraction to Financing of Terrorism and to Legalization (Washing) of Income Gained in the Criminal Way" of May 15, 2007 No. 26/1;

2) 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 No. 26/1 Provision "About the Minimum Requirements to the Organization of Internal Control in the Commercial Banks and Other Financial Credit Institutes Licensed by NBKR for the purpose of Counteraction to Financing of Terrorism and to Legalization (Washing) of Income Gained in the Criminal Way" of May 15, 2007" of June 27, 2008 No. 25/8;

3) 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 of Legalization (Washing) of the Criminal Income and to Financing of Terrorist or Extremist Activities" of December 29, 2010 No. 96/2;

4) 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 September 29, 2011 No. 55/9;

5) Item 35 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;

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 April 10, 2013 No. 11/2:

- paragraph two of Item 1 of the resolution;

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

7) 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 two of Item 1 of the resolution;

- Item of 1 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 June 15, 2017 No. 2017-P-12/25-5-(NPA):

- paragraph of the seventh of Item 1 of the resolution;

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

9) the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Regulations on procedure for carrying out exchange transactions with cash foreign currency in the Kyrgyz Republic" of November 30, 2000 No. 42/1;

10) 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 of November 30, 2000 No. 42/1 "About approval of the Regulations on procedure for carrying out exchange transactions with cash foreign currency in the Kyrgyz Republic" of June 13, 2007 No. 30/8;

11) 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 approval of the Regulations on procedure for carrying out exchange transactions with cash foreign currency in the Kyrgyz Republic" No. 42/1 of November 30, 2000" of September 17, 2008 No. 35/1;

12) 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 14, 2009 No. 41/3;

13) Item 6 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 April 25, 2012 No. 18/9;

14) Item IV of Appendix to the resolution of Board of National Bank of the Kyrgyz Republic "About entering of amendments into some regulatory legal acts of National Bank of the Kyrgyz Republic" of July 4, 2012 No. 28/9;

15) Item 5 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;

16) 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 December 23, 2013 No. 52/8:

- subitem 4 of Item 1 of the resolution;

- item 4 of Appendix to the above-stated resolution;

17) 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 January 29, 2014 No. 2/15:

- paragraph two of Item 1 of the resolution;

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

18) 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 November 27, 2014 No. 53/8:

- paragraph of the seventh of Item 1 of the resolution;

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

19) 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 eighth of Item 1 of the resolution;

- Item 7 of Appendix to the above-stated resolution;

20) in the resolution of Board of National Bank of the Kyrgyz Republic "About entering of amendments and changes into some resolutions of Board of National Bank of the Kyrgyz Republic" of November 30, 2016 No. 47/5:

- paragraph two of Item 1 of the resolution;

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

21) 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 and recognition voided some regulatory legal acts of National Bank of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-12-(NPA):

- subitem 4 of Item 1 of the resolution;

- item 4 of Appendix to the above-stated resolution;

22) 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 August 16, 2017 No. 2017-P-12/34-1-(NPA);

- paragraph the fourth Item 1 of the resolution;

- Item 3 of Appendix to the above-stated resolution.

5. To legal management:

- 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.

6. This resolution becomes effective since November 1, 2019.

7. To management of methodology of supervision and licensing of banks to bring this resolution to the attention of commercial banks, OYuL "Union of Banks of Kyrgyzstan", microfinance companies, the microcredit companies, JSC Finance Company of Credit Unions, credit unions, specialized financial institutions, exchange bureaus, structural divisions, regional managements and representative office of National Bank of the Kyrgyz Republic in Batken Province.

8. To impose control of execution of this resolution on the board member supervising Management of methodology of supervision and licensing of banks.

Acting as chairman of the board of National Bank of the Kyrgyz Republic

N. Zhenish

Appendix 1

to the Resolution of Board of National Bank of the Kyrgyz Republic of August 14, 2019 No. 2019-P-12/42-1-(NPA)

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"

Chapter 1. General provisions

1. This Provision is developed for the purpose of determination of the minimum requirements on the organization of internal control in the commercial banks including performing activities according to the Islamic principles of banking and financing, the banks having Islamic window, the microfinance companies attracting deposits, JSC Finance Company of Credit Unions, the housing and savings credit companies, National bank of development of the Kyrgyz Republic (further - banks), for the purpose of counteraction to financing of terrorist activities and to legalization (washing) of the criminal income (further - PFTD/LPD), and also to carrying out the transactions having signs of suspicious transactions.

2. The National Bank of the Kyrgyz Republic (further - National Bank) carries out inspection of activities of banks concerning the organization of internal control for the purpose of PFTD/LPD and sends information on its results to authorized state body in the sphere of PFTD/LPD (further - body of financial investigation).

Chapter 2. Concepts and determinations

3. For the purposes of this provision the following concepts are used:

The beneficial owner - physical person (physical persons) which finally (through chain of ownership and control) directly or indirectly (through the third parties) owns the property right or controls the client or the physical person, from name or for the benefit of which transaction (transaction) is made.

Close relatives (the parents, adoptive parents adopted, full and not full brothers and sisters, the grandfather, the grandmother, grandsons concerning whom the national public official incurs finance costs, regarding covering of expenses on accommodation, education, health care and other necessary expenses).

Verification - the procedure of verification of identification data of the client and (or) beneficial owner.

The high risk countries - the states and the territories (education) which do not apply or apply in insufficient degree international standards on counteraction to money laundering, financing of terrorism and financing of distribution of weapons of mass destruction, and also offshore zones.

Identification of the transactions which are subject to control and the message - stage of the organization of internal control of bank for the purpose of PFTD/LPD which includes activity definition, subject to control and the message in body of financial investigation according to requirements of regulatory legal acts of the Kyrgyz Republic.

The official on PFTD/LPD - the bank employee (at the level of the head of service of komplayens-control) appointed for the purpose of the organization of internal control for PFTD/LPD, having access to all information concerning identification, verification, identification, fixation and data transmission in body of financial investigation.

The official on PFTD/LPD for the purpose of operational execution of the functions has the right to delegate powers to the employees who are under its supervision. At the same time this circumstance does not relieve responsibility from the official for improper execution of the functions.

Identification - the procedure of establishment of identification data on the client and (or) the beneficial owner.

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