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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of September 14, 2022 No. 2022-P-14/57-1-(PS)

About approval of the Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes"

According to articles 5 and 64 of the constitutional Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes" it (is applied).

2. Recognize invalid:

- the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About conducting inspection checks of operators of payment systems and payment institutes" of November 30, 2016 No. 47/10;

- in the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in some regulatory legal acts and recognition voided some regulatory legal acts of National Bank of the Kyrgyz Republic" of June 8, 2017 No. 2017-P-14/23-11-(PS):

tenth paragraph of Item 1 of the resolution;

Item 9 of appendix to the resolution;

- the resolution of Board of National Bank of the Kyrgyz Republic "About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes" of November 30, 2016 No. 47/10" of September 2, 2019 No. 2019-P-14/46-4-(NPA).

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

4. To legal management from the date of receipt of the relevant documents, within three working days:

- 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 within three working days to bring this resolution to the attention of operators of payment systems and payment institutes of the Kyrgyz Republic.

6. To department of development of official language and document flow within three working days 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.

Chairman of National Bank of the Kyrgyz Republic

K. Bokontayev

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of September 14, 2022 No. 2022-P-14/57-1-(PS)

The instruction about conducting inspection checks of activities of operators of payment systems and payment institutes

Chapter 1. General provisions

1. This Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes" (further - the Instruction) establishes the purposes, types and procedure of inspection checks of activities of operators of the payment systems and payment institutes (further - persons under surveillance of the organization) having licenses/licenses of National Bank of the Kyrgyz Republic (further - National Bank) on the right of implementation of the following types of activity:

- rendering services in acceptance and carrying out payments and calculations for the goods and services which are not result of the activities for benefit of the third parties by means of the payment systems based on information technologies and electronic means and methods of carrying out payments;

- rendering services in acceptance, processing and issue of financial information (processing, clearing) on payments and calculations of the third parties to members of payment service provider, this processing, clearing center.

2. Conducting inspection checks, and also application of corrective actions in case of violation of requirements of the legislation of the Kyrgyz Republic by the subsupervising organization is part of activities of National Bank for supervision of observance by persons under surveillance by the organizations of the established requirements.

3. The National Bank exercises supervision of observance by persons under surveillance by the organizations of requirements of the legislation of the Kyrgyz Republic for safety, efficiency and continuity of functioning of payment system of the Kyrgyz Republic.

4. For the purposes of this Instruction the following reduced designations and determinations are used:

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