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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of September 2, 2019 No. 2019-P-14/46-2-(PS)

About approval of the Provision "About Emergency Situations in Payment System"

According to articles 20 and 68 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" and article 26 of the Law of the Kyrgyz Republic "About payment system of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About Emergency Situations in Payment System" it (is applied).

2. Declare invalid the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Emergency Situations in Payment System" of November 16, 2017 No. 2017-P-14/48-3-(PS).

3. 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 inclusion in the State register of regulatory legal acts of the Kyrgyz Republic.

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

5. To the commercial banks, operators of payment systems, payment institutes and financial credit institutions licensed by National Bank of the Kyrgyz Republic till January 1, 2020 to bring the activities into accord with requirements of this provision.

6. To department of development of official language and document flow to bring this resolution to the attention of the relevant structural divisions, regional managements and representative office of National Bank in Batken Province.

7. To management of payment systems to bring this resolution to the attention of commercial banks, operators of payment systems and payment institutes of the Kyrgyz Republic.

8. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising Management of payment systems.

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

N. Zhenish

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of September 2, 2019 No. 2019-P-14/46-2-(PS)

Regulations on emergency situations in payment system

Chapter 1. General provisions

1. The provision "About Emergency Situations in Payment System" (further - the Provision) determines the basic concepts and requirements for ensuring smooth functioning of payment system, and also in case of the emergency situations in payment system connected with:

- reliability and uninterruptedness;

- availability;

- unauthorized access to system and fraud;

- force majeur circumstances.

2. This Provision extends to operators and members of payment service provider, the providers of the critical services which are residents of the Kyrgyz Republic and having the license of National Bank of the Kyrgyz Republic who perform the activities according to the laws "About National Bank of the Kyrgyz Republic, Banks and Banking Activity", "About Licensed Authorization System in the Kyrgyz Republic", "About Payment System of the Kyrgyz Republic" and regulatory legal acts of National Bank of the Kyrgyz Republic.

3. The payment system of the Kyrgyz Republic includes:

- system and significant payment systems (further - SZPS);

- significant payment systems (further - ZPS);

- other payment systems.

4. The organization of activities and infrastructure of payment system shall provide recovery of regular functioning of system and minimization of negative influence on process of those functions which operability appeared the emergency situation broken in case of origin.

5. For maintenance of smooth functioning the payment system shall provide:

- guarantees of timeliness of calculation within established by the legislation of the Kyrgyz Republic and contractual conditions of term;

- guarantees of return by payment service provider of money in case of unexecuted payments and non-execution of calculation;

- access to payment services during the period of time established by regulations of work of payment systems;

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