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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of August 19, 2020 No. 2020-P-14/46-4-(PS)

About approval of the Provision "About the Minimum Requirements to the Organization of Internal Control in Payment Institutes and Operators of Payment Systems for the purpose of Counteraction to Financing of Terrorist Activities and to Legalization (Washing) of the Criminal Income"

According to articles 20 and 68 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity", article 26 of the Law of the Kyrgyz Republic "About payment system of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About the Minimum Requirements to the Organization of Internal Control in Payment Institutes and Operators of Payment Systems for the purpose of Counteraction to Financing of Terrorist Activities and to Legalization (Washing) of the Criminal Income" it (is applied).

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

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 payment systems to bring this resolution to the attention of payment institutes and operators of payment systems.

5. To department of development of official language and document flow to bring this resolution to the attention of the relevant structural divisions, regional managements and representative office of National Bank in Batken Province.

6. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising Management of payment systems.

Chairman of National Bank of the Kyrgyz Republic

T. Abdygulov

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of August 19, 2020 No. 2020-P-14/46-4-(PS)

Regulations on the minimum requirements to the organization of internal control in payment institutes and operators of payment systems for the purpose of counteraction to financing of terrorist activities and to legalization (washing) of the criminal income

Chapter 1. General provisions

1. This Provision "About the Minimum Requirements to the Organization of Internal Control in Payment Institutes and Operators of Payment Systems for the purpose of Counteraction to Financing of Terrorist Activities and to Legalization (Washing) of the Criminal Income" (further - the Provision) determines the minimum requirements by the organization of internal control in payment institutes and operators of payment systems of calculations with use of the electronic money which is not commercial banks (further - the payment organizations / operators of payment systems) for the purpose of counteraction to financing of terrorist activities and to legalization (washing) of the criminal income (further - PFTD/LPD).

2. The National Bank of the Kyrgyz Republic (further - National Bank) exercises supervision of activities of the payment organizations / operators of payment systems, including concerning the organization of internal control for the purpose of compliance with law in the sphere of PFTD/LPD, and directs information in case of identification of payments for benefit of the third parties having signs of suspicious transactions, to authorized state body in the sphere of PFTD/LPD (further - body of financial investigation).

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