of October 12, 2020 No. 2020-P-11/60-1-(NPA)
About implementation of cross-border transactions on the SWIFT system and alternative communication channels
Being guided by Articles 17, of 20, 38 and 68 Laws 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) to perform acceptance of all incoming payments for benefit of commercial banks and their clients;
2) to register outgoing cross-border payments only on:
- to transactions of clients (legal entities, individual entrepreneurs, country and farms) commercial banks of the Kyrgyz Republic under the contracts which are earlier signed and provided in banks on implementation of calculations for goods and services (the list is attached). At the same time the payment amount shall not exceed the average level characteristic of this client, and contracts/agreements shall be inherent in regular activities of the client;
- to incomplete currency transactions with partners, on transactions on purchase/sale of foreign currency on its own behalf for the purpose of liquidity management and/or foreign exchange position, including on swap transactions, and also in connection with exchange of assets;
- to transactions on implementation of settlement on international payment systems;
- to replenishment nostro - accounts and deposits of commercial banks of the Kyrgyz Republic in nonresident banks;
- to transactions on repayment of the credits and the added percent on the credits obtained from the international organizations;
- to transactions on implementation of the translations from the non-bank financial credit institutions which are served in bank;
- to transactions according to obligations of bank according to transactions of trade financing, the issued before letters of credit and bank guarantees;
- to the transactions necessary for ensuring activities of banks;
- to transactions according to orders of the international organizations and diplomatic representations of foreign states;
- to transfers of the physical persons which do not have commercial purposes in the amount up to 5000 US dollars or equivalent in other foreign currency (in week) for payment for treatment, accommodation, training and payments of the alimony;
3) to carry out correspondence with corresponding banks on the questions which are not connected with movement of assets.
2. Provide to commercial banks compliance with law on counteraction of financing of terrorist activities and legalization (washing) of the criminal income when carrying out the transactions specified in Item 1 of this resolution.
3. The board and the board of directors of commercial banks bear complete responsibility for providing and control of execution of the procedures connected with requirements of the legislation in the sphere of counteraction of financing of terrorist activities and to legalization (washing) of the criminal income when carrying out the transactions specified in Item 1 of this resolution.
5. 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.
6. To management of banking supervision 1 and to Management of banking supervision 2 to bring this resolution to the attention of OYuL "Union of Banks of Kyrgyzstan" and commercial banks.
7. 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.
8. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising the supervising block.
Chairman of National Bank of the Kyrgyz Republic
to the Resolution of Board of National Bank of the Kyrgyz Republic of October 12, 2020 No. 2020-P-11/60-1-(NPA)
1. Transactions on purchase of food products, goods of light and processing industry, agricultural goods.
2. Transactions on purchase of drugs, medical goods and the medical equipment, including goods of hygienic nature.
3. Transactions on purchase of fuel and lubricants, natural gas and coal, including all oil products (bitumen, pitches).
4. Transactions on purchase of construction materials and the construction equipment.
5. Transactions on purchase of cars, special equipment, auto parts and accessories, including accessories to the heavy mining machinery, the industrial specialized equipment (radiators), aviation engines and their spare parts.
6. Obligation fulfillment on the credit loans attracted from the international institutes (The World Bank, KfW, IFC, etc.).
7. Transactions on equipment procurement, raw materials and materials for production and industrial companies.
8. Transactions on equipment procurement, other inventory stocks, raw materials, finished goods and electronics for all companies.
9. Purchase of raw materials for production.
10. Transport services (logistics, activities of customs brokers, goods delivery, railway codes, air tickets and services of communications).
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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