RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF TAJIKISTAN

of September 27, 2019 No. 117

About approval of the Procedure for cross-border transfer of money and activities of the payment service providers making such transfer in the Republic of Tajikistan 070.170.010

According to part 2 of article 32 of the Law of the Republic of Tajikistan "About National Bank of Tajikistan", part 9 of article 20 of the Law of the Republic of Tajikistan "About payment services and payment system" and part 4 of article 4 of the Law of the Republic of Tajikistan "About currency control and currency exchange control", the Board of National Bank of Tajikistan DECIDES:

1. Approve the Procedure for cross-border transfer of money and activities of the payment service providers making such transfer in the Republic of Tajikistan 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 management of the international reserves and politicians of the currency rate, Management of payment systems in case of state registration of this resolution in the Ministry of Justice of the Republic of Tajikistan if necessary to make to the text of appendix of this resolution changes and amendments of editorial nature which are not changing it content.

4. To assign execution of Item 2 of this resolution to the Secretary of Board, Department of management of the international reserves and politicians of the currency rate, Management of payment service providers, Legal department and Department of the press.

5. To impose control of execution of this resolution on the First Deputy Chairman of National Bank of Tajikistan Nuraliyev D. K.

Approved by the Resolution of Board of National Bank of the Republic of Tajikistan of September 27, 2019, No. 117

Procedure for cross-border transfer of money and activities of the payment service providers making such transfer in the Republic of Tajikistan

The procedure for cross-border transfer of money and activities of the payment systems making such transfer in the Republic of Tajikistan (further - the Procedure), is developed in compliance by part 2 of article 32 of the Law of the Republic of Tajikistan "About National Bank of Tajikistan", part 9 of article 20 of the Law of the Republic of Tajikistan "About payment services and payment system" and part 4 of article 4 of the Law of the Republic of Tajikistan "About currency control and currency exchange control" and determines procedure for cross-border transfer of money without opening of the bank account and activities of the payment systems making such transfer in the Republic of Tajikistan and also requirements for connection to the National processing center for money transfers.

Chapter 1. General provisions

1. In this Procedure the following basic concepts are used:

- cross-border transfer of money without opening of the account (further - cross-border transfer) - money transfer when which implementing the payer or the receiver of means is outside the Republic of Tajikistan and/or money transfer, when implementing which the payer or the receiver of means are served by foreign Central (national) Bank or other foreign bank;

- payment system - set of the organizations interacting by rules of payment system for the purpose of implementation of money transfer and having the license of National Bank of Tajikistan;

- the guaranteeing organization - bank which for accomplishment of obligations of the operator of payment system - the member of the National processing center for money transfers opens correspondent account in National Bank of Tajikistan and within the placed money on this correspondent account guarantees implementation of calculations. The operator of payment system can use guarantee of this guaranteeing organization if he according to regulatory legal acts of country of incorporation (or locations of head office) has no right to open correspondent account and/or to place money in National Bank of Tajikistan.

- The national processing center for money transfers (further - the National center) - software and hardware complex of National Bank of Tajikistan which provides calculations for cross-border money transfers without opening of the account through correspondent accounts of Participants or within the placed money of the Guaranteeing organization with use of electronic means of acceptance, processing, transfer and information security;

- Banknet-M - the protected communication network of National Bank of Tajikistan;

- National Bank of Tajikistan (for the purposes of this Procedure) - clearing bank on all transactions in the National center;

- the operator of payment system - the legal entity who is determining rules of payment system and carrying out other obligations according to the Law of the Republic of Tajikistan "About payment services and payment system";

- members of the National center (further - Participants, separately - the Participant) - the credit financial institutions and operators of payment systems;

- interbank calculations - calculations between Participants for accomplishment of the monetary claims and obligations on cross-border transfers initiated by their clients according to rules of payment system within which there is cross-border transfer;

- the correspondent settlement account - the correspondent account intended for carrying out calculations within transactions of the National center;

- operational day - the working day during which the National center performs acceptance/transfer, processing and execution of financial and not financial messages. The National Bank of Tajikistan establishes operational day of the National center;

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