RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of June 24, 2021 No. 2021-P-14/34-5-(PS)

About introduction of amendments to the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "On Regulation of Activities of Payment Institutes and Operators of Payment Systems" of September 30, 2019 No. 2019-P-14/50-2-(PS)

According to articles 20 and 68 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" and 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. Make changes to the resolution of Board of National Bank "About approval of the Provision "On Regulation of Activities of Payment Institutes and Operators of Payment Systems" of September 30, 2019 No. 2019-P-14/50-2-(PS) (are applied).

2. 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 inclusion in the State register of regulatory legal acts of the Kyrgyz Republic.

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

4. To management of payment systems to bring this resolution to the attention of payment institutes and operators of payment systems, OYuL "Association of Operators of Payment Systems of the Kyrgyz Republic" and commercial banks.

5. To department of development of state 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.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of June 24, 2021 No. 2021-P-14/34-5-(PS)

Changes in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "On Regulation of Activities of Payment Institutes and Operators of Payment Systems" of September 30, 2019 No. 2019-P-14/50-2-PS

Bring in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "On Regulation of Activities of Payment Institutes and Operators of Payment Systems" of September 30, 2019 No. 2019-P-14/50-2-(PS) the following changes:

in the Provision "On Regulation of Activities of Payment Institutes and Operators of Payment Systems" approved by the above-stated resolution:

- the fourth Item 1 to state the paragraph in the following edition:

"Payment institutes, operators of payment systems, and also agents/subagents of payment institute shall observe requirements of the legislation, including in the field of counteraction to financing of terrorist activities and to legalization (washing) of the criminal income according to 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" approved by the resolution of Board of National Bank of the Kyrgyz Republic of August 19, 2020 No. 2020-P-14/46-4-(PS).";

- add Item 6 with the paragraph the seventeenth the following content:

"The web cash desk of the agent is the access to payment system of payment institute by means of different devices (the mobile phone, the personal computer, the tablet, etc.) provided to the agent of payment institute for implementation of payments.";

- to state the name of Chapter 3 in edition:

"Chapter 3. Main requirements to activities of payment institutes and operators of payment systems and their agents";

- state Item 7 in the following edition:

"7. The operator of payment system has the right to be engaged only in those types of activity which are specified in the license, and also to render consulting/information services and to perform other activities which are accompanying to the main or are necessary for providing its main activities.

Other activities which are accompanying to the main or are necessary for providing the main activities of the operator of payment system shall be limited to rendering only the following services:

- rendering services in distribution/transfer of messages/data of information nature (advertizing on own website, on the surface of payment terminals, the information/interface screens of terminals, mobile applications and buildings belonging to the operator of payment system and also on checks when rendering the corresponding services);

- rendering services in development and further servicing / to technical support of the software for payment systems;

- rendering services in collection and transfer of protected fiscal data to authorized tax body / activities of the operator of fiscal data;

- implementation of the software (licenses or products of intellectual property) / bank equipment / equipment for implementation of acceptance of payments;

- provision of computing capacities, the server and network hardware, the rent area for the server hardware.

The operator of payment system can render banking retail services according to the agency agreement signed with commercial bank of the Kyrgyz Republic according to regulatory legal acts of National Bank.

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