RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of June 2, 2022 No. 2022-P-14/35-3-(NPA)

About approval of the Provision "On Regulation of Access to Financial Services through Financial Platforms (Marketpleys) with Use of Open Program Interfaces in the Kyrgyz Republic"

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 in execution of Items 325 and 326 of the actions plan on implementation of the National development program of the Kyrgyz Republic till 2026 the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "On Regulation of Access to Financial Services through Financial Platforms (Marketpleys) with Use of Open Program Interfaces in the Kyrgyz Republic" it (is applied).

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

In Regulations on regulation of activities of payment institutes and operators of payment systems, the approved above-stated resolution:

- add Item 7 with the paragraph the eighth the following content:

"-rendering service of financial platform (marketpleys) according to requirements of the Provision "On Regulation of Access to Financial Services through Financial Platforms (Marketpleys) with Use of Open Program Interfaces in the Kyrgyz Republic".";

- add Item 29 with the paragraph the tenth the following content:

"-rendering service of financial platform (marketpleys) according to requirements of the Provision "On Regulation of Access to Financial Services through Financial Platforms (Marketpleys) with Use of Open Program Interfaces in the Kyrgyz Republic".

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

4. 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.

5. To management of payment systems to bring this resolution to the attention of commercial banks, operators of payment systems and payment institutes, Consolidation of legal entities "The union of banks of Kyrgyzstan", Associations of legal entities "Association of operators of KG payment service providers" and Associations of legal entities "Association of the microfinancial organizations".

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

7. 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 2, 2022 No. 2022-P-14/35-3-(NPA)

Regulations on regulation of access to financial services through financial platforms (marketpleys) with use of open program interfaces in the Kyrgyz Republic

Chapter 1. General provisions

1. This Regulations on regulation of access to financial services through financial platforms (marketpleys) with use of open program interfaces in the Kyrgyz Republic (further - the Provision) govern the relations arising in case of placement of information on financial services and transactions with use of financial platform and also determine the legal basis of activities of participants of financial platform and the operator of services of financial platform (marketpleys).

2. Within this provision as the operator of services of financial platform (marketpleys) commercial banks, the microfinancial organizations, payment institutes and operators of payment systems, and also other legal entity created in organizationally legal form open / private company or limited liability company which shareholder/member are persons under surveillance to National Bank of the organization in compliance with the legislation of the Kyrgyz Republic, and also merging of banks, non-bank financial credit institutes of the Kyrgyz Republic, operators of payment systems and payment institutes, for the purpose of creation of single window for access to financial services of the Kyrgyz Republic can act.

The decision on creation of the legal entity for financial platform (marketpleys) is made by the board of directors, shareholders/participants of merging of banks, non-bank financial credit institutes of the Kyrgyz Republic, operators of payment systems and payment institutes and/or by the conclusion of Treaties of Accession to the operator of services of financial platform (marketpleys).

3. If the commercial bank, the microfinancial organization, payment institute and the operator of the payment systems, that provision of services connected with financial platform acts as the operator of services of financial platform (marketpleys) it shall be allocated in the separate Section on website/show-window and/or in mobile application.

4. Persons under surveillance to National Bank of the organization and other legal entities having allowing documents for implementation of financial services of authorized state body of the Kyrgyz Republic can be connected to the operator of services of financial platform (marketpleys), according to the Law of the Kyrgyz Republic "About it is license to authorization system in the Kyrgyz Republic".

5. The operator of services of financial platform (marketpleys) bears responsibility for placement of information and provision of services (transactions) on financial platform and ensuring confidentiality of the data which are bank secrecy according to the requirements established by regulatory legal acts of National Bank.

Chapter 2. Terms and determinations

6. Within this provision the following terms and determinations are used:

the financial platform (marketpleys) is electronic onlineplatform / show-window of the operator of services of financial platform on which information on financial services of suppliers of financial services is placed and there is technical capability to make the transaction on financial platform through private office and/or by the reference through financial platform of the supplier of financial services or with use of other technology solutions on financial platform;

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