RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of September 2, 2019 No. 2019-P-14/46-4-(NPA)

About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes" of November 30, 2016 No. 47/10"

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. Make changes and additions to the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes" of November 30, 2016 No. 47/10" it (is applied).

2. 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.

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

4. To management of payment systems to bring this resolution to the attention of operators of payment systems and payment institutes of the Kyrgyz Republic.

5. To impose control of execution of this resolution on the vice chairman of the board of the National Bank of the Kyrgyz Republic supervising Management of payment systems.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of September 2, 2019 No. 2019-P-14/46-4-(NPA)

Changes and amendments in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes" of November 30, 2016 No. 47/10"

Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes" of November 30, 2016 No. 47/10" the following changes and amendments:

in the Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes", approved by the above-stated resolution:

- in Item 3 to replace the word of "data" with the word of "established";

- state Item 5 in the following edition:

"5. During inspection check the National Bank has the right to request and obtain any information concerning activities of persons under surveillance of the organizations, their reporting, agents, subagents, the affiliated organizations and also to require explanation according to information received and if necessary to receive the copies of supporting documents certified by seal of the subsupervising organization.

On the affiliated organizations the subsupervising organization provides the following documents and the information:

- constituent documents;

- financial reporting;

- information about the head.

Required information shall be provided according to the terms specified in request of National Bank.";

- state Item 6 in the following edition:

"6. Interaction and exchange of information of National Bank with persons under surveillance by the organizations by consideration of the report following the results of check are performed in the form of official negotiations, meetings and by provision of other written instruments.";

- to state paragraphs of the sixth and seventh of Item 7 in the following edition:

"-development of recommendations about elimination of the revealed violations and recommendations for correction of shortcomings, improvements of condition of the subsupervising organization and decrease in its risks, and if necessary - development of preventive measures and/or corrective actions;

- assessment of accomplishment by the subsupervising organization of the recommendations and instructions directed following the results of the previous inspection check on elimination of the revealed shortcomings.";

- Add Chapter 3 with Item 8-1 of the following content:

"8-1. The plan of inspection checks of persons under surveillance of the organizations is constituted for every year and affirms the deputy the Chairman/board member of National Bank supervising the structural division performing functions of regulation, supervision and control of operators of payment systems and payment institutes, or the face replacing it.

Planning of inspection checks is performed taking into account the following main criteria (but it is not limited to them):

- the importance of payment system which is determined according to Policy on supervision (oversight) of payment system of the Kyrgyz Republic and affirms Committee on payment system of National Bank of the Kyrgyz Republic;

- size of the authorized capital;

- implementation of acceptance of budget payments;

- the previous carried-out inspection inspections;

- execution of instructions and other corrective actions, etc.

Changes if necessary can be made to the plan of inspection checks.";

- in Item 10 after words of "the subsupervising organization" to exclude words" (for example, processing, acceptance of payments for benefit of the third parties, electronic money, etc.)";

- add Item 14 with paragraphs the eighth, ninth and tenth the following content:

"-there are data/information/address of citizens about disagreements (conflicts) between founders/participants/shareholders, officials of the operator of payment system / payment institute (connected with the subsupervising organization) which can lead to violation of uninterruptedness of functioning of payment system and/or which can lead to default on obligations before users;

- there are data/information/event which can lead to violation of uninterruptedness of functioning of payment system and/or which can lead to default on obligations before users;

- there is information from law enforcement agencies on illegal activities of the subsupervising organization.";

- state Item 21 in the following edition:

"21. If inspection check is planned, the head of check sends in the subsupervising organization the letter notification with appendix of the list of necessary documents (Appendix 2), not later than 10 (ten) working days prior to check, and the direction on check is shown on arrival.";

- state Item 25 in the following edition:

"25. In the first day of check the subsupervising organization shall provide all documents specified in the letter notification directed according to Item 21 of this Instruction. Lack of documents is drawn up by the separate act and signed by the head of group on check and the authorized representative of the subsupervising organization.

In the first day of check the subsupervising organization shall provide the certain room with the equipped workplaces. The room shall not contain audio/video units, the leading audio / video. If in the room provided by the subsupervising organization to group on checks there is audio/video recorders, the subsupervising organization provides the obligation that during check in this room the audio/video will not be performed.";

- in Item 26 of the word "in one working day prior to" shall be replaced with words "in day";

- state Item 27 in the following edition:

"27. During inspection check the subsupervising organization provides originals of documents. In exceptional cases, when for the objective reasons it is impossible to provide originals, the subsupervising organization provides the copies of documents certified by the signature of the official and impress of a seal of the subsupervising organization with indication of the reasons of failure to provide documents in writing.

At the request of group checking the subsupervising organization provides electronic versions of required documents (in case of their availability).";

- in Item 29:

to state the paragraph of the sixth in the following edition:

"-on demand to acquire access rights to the automated / information systems of the subsupervising organization with possibility of receipt of information on all the performed operations (reading, forming and seal of reports);";

to declare the paragraph of the seventh invalid;

to state the paragraph of the eighth in the following edition:

"-request and receive any documents and information on the questions concerning functioning of payment system at persons under surveillance of the organizations and members of payment service provider.

During conducting check forming and start of reports in the automated systems of the subsupervising organization is performed in coordination with the authorized person of the subsupervising organization.";

- Add Chapter 4 with Item 29-1 of the following content:

"29-1. In case of introduction of the special mode authorized representatives of National Bank perform the operations established by the decision of Committee on payment system of National Bank of the Kyrgyz Republic on introduction of the special mode and the Provision "About the Corrective Actions Applied to Operators of Payment Systems and Payment Institutes".".

- state Item 31 in the following edition:

"31. When implementing authorized representatives of National Bank can perform discussions on the questions arising during check with the direct staff of the subsupervising organization who prepared and provided the requested information, in coordination with management or the authorized person of the subsupervising organization.";

- add Item 32 with the paragraph the second the following content:

"In case of need to fix any fact and/or event during conducting check of the subsupervising organization (lack of management, officials, removal of cash balances, etc.) authorized representatives of National Bank draw up the statement of confirmation of established facts and/or events of inspection check in duplicate: on one for National Bank and the subsupervising organization according to Appendix 3-1 to this Instruction.";

- state Item 33 in the following edition:

"33. The act of counteraction to conducting inspection check / about confirmation of established facts and/or events of inspection check is signed by authorized representatives of National Bank, and also the authorized representative / official persons / employees of the subsupervising organization.

In case of refusal from signing of the act from the subsupervising organization or absence of the authorized representative / official persons / employees of the subsupervising organization in the act the mark about refusal/absence of officials which makes sure the signature of authorized representatives of National Bank (the head and members of group on check) becomes.";

- in Item 35 after the words "In the Last Week" to add with the word "inspection";

- state Item 36 in the following edition:

"36. During the preliminary meeting the subsupervising organization has the right to provide the comments and explanations on the questions sounded by members of group on check on the checked sites of activities of the subsupervising organization and also in the presence of questions of regulation of activities of persons under surveillance of the organizations to receive explanations, to find out and specify the available problems, to ask questions to members of group on check.

In case of refusal the subsupervising organization to sign the protocol by results of preliminary meeting the subsupervising organization within 3 (three) working days sends to National Bank the letter with reasons for causes of failure in signing of the protocol.";

- state Item 41 in the following edition:

"41. Within 5 (five) working days after closing meeting the protocol in which all discussed questions are fixed is constituted and signed.

The protocol of closing meeting is signed by the head of group on check and the authorized representative of the subsupervising organization, and in case of its absence - person fulfilling its duties.

In case of refusal the subsupervising organization to sign the protocol by results of closing meeting the subsupervising organization within 3 (three) working days sends to National Bank the letter with reasons for causes of failure in signing of the protocol.";

- to state the third paragraph of Item 52 in the following edition:

"-need of signing of leaf of acquaintance with the report according to Appendix 4 to this Instruction after acquaintance with the report on inspection check. At the same time disagreement with the conclusions and the conclusions containing in the report is not the basis for refusal in signing of leaf of acquaintance with the report.";

- state Item 53 in the following edition:

"53. Members of executive body the management/board of directors (in the presence) / shareholders (founders)/members of the subsupervising organization shall study the report on inspection check and sign leaf of acquaintance. After acquaintance with the report the signed leaf of acquaintance returns to National Bank within 10 (ten) working days from the moment of receipt of the cover letter from National Bank.

If persons obliged to sign leaf of acquaintance are nonresidents, the term of provision of leaf of acquaintance in National Bank can be prolonged up to 30 (thirty) calendar days.";

- in Item 54 of the word to replace "the page with signatures" with the words "sheet of acquaintance with the report";

- Add the instruction with Appendix of 3-1 following content:

"Appendix 3-1

Act of confirmation of established facts and/or events of inspection check

__________________________________________________________________________________________________

(name of the operator of payment system or payment institute)

__________________________________________________________________________________________________

(location, address, phone)

_________________________________________________________________ "___" _____________________ 20 __.

(place and date of creation)

Us, employees of National Bank of the Kyrgyz Republic

________________________________________________________________________________________________ and

(Full name of authorized representatives of National Bank of the Kyrgyz Republic)

__________________________________________________________________________________________________

(Full name of authorized representatives / official persons / employees of the subsupervising organization)

this Statement that is drawn up

__________________________________________________________________________________________________

(the established fact and/or event is stated)

The statement is drawn up:

_____________________________ (full name of the authorized representative of National Bank)

_________________________ (position)

______________________ (signature)

It is acquainted:

_______________________________ (full name of the employee of the subsupervising organization)

_________________________ (position)

______________________ (signature)

The second copy of the act is received:

_______________________________ (full name of the employee of the subsupervising organization)";

_________________________ (position)

______________________ (signature)

- in Appendix 4 of the word "Signatures of Executive Body" shall be replaced with words "leaf of acquaintance with the report".

 

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