RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF TAJIKISTAN

of May 29, 2019 No. 58

About approval of the Procedure for creation of structural divisions by the credit financial institutions and their branches 070.170.000

According to article 11 of the Law of the Republic of Tajikistan "About banking activity", article 13 of the Law of the Republic of Tajikistan "About Islamic banking activity" and article 6 of the Law of the Republic of Tajikistan "About the microfinancial organizations", the Board of National Bank of Tajikistan decides:

1. Approve the Procedure for creation of structural divisions by the credit financial institutions and their branches it (is applied).

2. In accordance with the established procedure to provide this resolution to the Ministry of Justice of the Republic of Tajikistan for state registration and to enact after state registration and official publication.

3. Authorize Department of banking supervision in case of state registration of this resolution in the Ministry of Justice of the Republic of Tajikistan if necessary to bring in the text of its appendix of change and amendment of editorial nature, not changing its content.

4. Consider invalid resolutions of Board of National Bank of Tajikistan of December 26, 2013 No. 319 "About approval of the Procedure for creation of structural divisions of credit institutions and their branches (in the new edition)" and of October 22, 2015 No. 221 "About modification and amendments in the Procedure for creation of structural divisions of credit institutions and their branches" which are respectively registered in the Ministry of Justice of the Republic of Tajikistan on February 21, 2014 No. 559 "b" and 05 of April, 2016 No. 559 "v".

5. To assign execution of Item 2 of this resolution to the Secretary of Board, Department of banking supervision, Legal department and Department of the press.

6. To impose control of execution of this resolution on the vice-chairman of National Bank of Tajikistan Mashrabzod X.

Approved by the Resolution of Board of National Bank of the Republic of Tajikistan of May 29, 2019, No. 58

Procedure for creation of structural divisions by the credit financial institutions and their branches

The procedure for creation of structural divisions by the credit financial institutions and their branches (further - the Procedure) is developed according to parts 5 and 6 of article 11 of the Law of the Republic of Tajikistan "About banking activity", parts 5 and 6 of article 13 of the Law of the Republic of Tajikistan "About Islamic banking activity", part 3 of article 6 of the Law of the Republic of Tajikistan "About the microfinancial organizations" and establishes procedure for creation of structural divisions of the credit financial institutions and their branches, and also the list of separate banking activities or Islamic banking activities and other services which they can perform.

Chapter 1. General provisions

1. In this Procedure the following main terms are used:

- the credit financial institutions - the credit institutions and Islamic credit institutions performing the activities provided by the law based on the license of National Bank of Tajikistan;

- credit institutions - legal entities (banks and non-bank credit institutions, including the microfinancial organizations) performing all or separate banking activities provided by the law based on the license of National Bank of Tajikistan;

- Islamic credit institutions - legal entities (Islamic banks, Islamic non-bank credit institutions and the Islamic microfinancial organizations, including "Islamic bank window") performing all or separate Islamic banking activities provided by the law based on the license of National Bank of Tajikistan;

- branch - the isolated structural division of the credit financial institutions which is outside their location and carrying out from their name fully or partially banking activity or Islamic banking activity and having the single authorized capital and single balance with the credit financial institution;

- the center of bank servicing - structural division of banks, Islamic banks, non-bank credit institutions and Islamic non-bank credit institutions which depending on type of these organizations can perform the separate or all banking activities and services provided by this Procedure;

- the center of microfinancial servicing - structural division of the microfinancial organizations or the Islamic microfinancial organizations which depending on type of these organizations can perform all or separate banking activities and services provided by this Procedure;

- banking activity - banking activity or Islamic banking activity which is performed according to established procedure the credit financial institutions.

2. The credit financial institutions and their branches according to this Procedure can create out of the place of the arrangement other structural divisions - the centers of bank servicing, the centers of microfinancial servicing and portable division (further - structural divisions).

3. For the purpose of safety of activities of structural divisions, they shall be equipped with surveillance cameras, the memory size whom at least three continuous calendar months allow to keep records and to provide full record during the whole days. Structural divisions shall provide conditions for storage of records and opportunity for smooth operation of surveillance cameras in case of temporary electricity outage and other emergencies.

4. For the purpose of safety of assets of the credit financial institution money of structural divisions shall be collected daily on storage in cash desk of head office of the credit financial institution or its branch by means of own service of collection and or leased. Money can be stored in the building of structural division if the building conforms to the requirements established by regulatory legal acts of National Bank of Tajikistan about cash works.

5. The structural divisions which are at a great distance from the location of head office of the credit financial institution and its branch can sign contracts with other credit financial institutions for cash servicing, storage and collection of values.

6. Ensuring fulfillment of requirements of this Procedure and management of its risks are assigned to the credit financial institutions.

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