RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of April 29, 2020 No. 2020-P-12/25-6-(NPA)

About additional temporary measures of regulation of activities of commercial banks of the Kyrgyz Republic

Due to the situation which developed because of COVID-19, pandemic for the purpose of preserving stability in bank and financial systems of the country and consumer protection of banking services and also mitigations of separate requirements of National Bank of the Kyrgyz Republic, 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. Before adoption of the relevant decision of Board of National Bank of the Kyrgyz Republic:

1) banks in case of issuance of credits has the right not to demand from borrowers of the document of the established form issued by authorized body and confirming the fact of passing of state registration (re-registration) (certificate) as the individual entrepreneur, or the copy of the document confirming the occupation fact with business activity without state registration (patent), provided by the Provision "About the Minimum Requirements on Credit Risk Management in the Commercial Banks and Other Financial Credit Institutions Licensed by National Bank of the Kyrgyz Republic" approved by the resolution of Board of National Bank of the Kyrgyz Republic of June 30, 2010 No. 52/4;

2) Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 23.03.2022 No. 2022-P-12/17-5-(NPA)

3) the banks participating in programs for issue of the soft unsecured credits for small and medium business within renewal of economic activity of subjects of the entrepreneurship having the right not to require submission by legal entities and individual entrepreneurs (residents) to bank of the certificate of body of Tax Service of the fact of the tax registration of the taxpayer when opening the account for the purposes of receipt of the credit provided by the Instruction for the work with bank accounts, accounts on bank deposits (deposits) approved by the resolution of Board of National Bank of the Kyrgyz Republic of October 31, 2012 No. 41/12;

4) banks:

a) Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 27.01.2021 No. 2021-P-12/4-6-(NPA) 

b) Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 27.01.2021 No. 2021-P-12/4-6-(NPA) 

c) has the right to issue consumer loan to the borrower in national currency only if the ratio of the planned monthly payments on the credit (principal debt and interest payments) to average monthly comprehensive income of the borrower constitutes:

- no more than 40% if the average monthly comprehensive income constitutes less than 500 settlement indicators;

- no more than 50% if the average monthly comprehensive income constitutes from 500 to 2000 settlement indicators;

- no more than 60% if the average monthly comprehensive income constitutes more than 2000 settlement indicators.

2. This resolution becomes effective from the date of its official publication and is effective before adoption of the relevant decision of Board of National Bank of the Kyrgyz Republic.

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 entering into the State register of regulatory legal acts of the Kyrgyz Republic.

4. To management of methodology of supervision and licensing of banks to bring this resolution to the attention of OYuL "Union of Banks of Kyrgyzstan", commercial banks, relevant structural divisions, regional managements, representative offices of National Bank in Batken Province.

5. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising Management of methodology of supervision and licensing of banks.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info