RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 18, 2020 No. 2020-P-12/13-1-(BS)

About provisional rules of regulation of activities of financial credit institutions in connection with COVID-19 pandemic

Due to the situation which developed because of COVID-19 pandemic (further - koronavirusny infection) for the purpose of preserving stability in bank and financial systems, consumer protection of banking services, and also, 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 smoothings of negative effects for economy of the Kyrgyz Republic:

1. To the banks and non-bank financial credit institutions registered in the Kyrgyz Republic in connection with spread of koronavirusny infection (closure of borders, introduction of restrictions by the state, quarantine, etc.):

- not charge and not levy the commission and other payments connected with review of conditions of credit agreements;

- not impose and not levy penalties, including penalty (penalties/penalty fee), on borrowers for non-execution / improper execution of the obligations provided by credit agreements.

2. In case of change of conditions of the credit agreements connected with changes of cash flows and financial position of the borrower in view of spread of koronavirusny infection, on such credits non-bank financial credit institution, except the microfinance companies having the right to attraction of deposits, guarantee funds and JSC Finance Company of Credit Unions. has the right not to worsen category of classification regardless of the following conditions:

- this credit was earlier restructured;

- availability of the overdue amounts on debt repayment on the credits in view of the circumstances connected with spread of koronavirusny infection.

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