RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of October 6, 2022 No. 2022-P-12/62-2-(NPA)

About some decisions of National Bank of the Kyrgyz Republic concerning support to the clients of commercial banks, non-bank and specialized financial credit institutions injured with armed conflict in the Batken and Osh regions

For the purpose of preserving banking system stability and the non-bank sector, creation of necessary conditions for activity of the citizens and the organizations injured with the armed conflict which took place in September, 2022 in the Batken and Osh regions and according to Articles 5, "About National Bank of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides 9 and 64 constitutional Laws of the Kyrgyz Republic:

1. To commercial banks, non-bank and specialized financial credit institutions according to the legislation of the Kyrgyz Republic to consider all arriving addresses of the clients injured with armed conflict in the Batken and Osh regions and to give support, including on:

- to write-off of the credits by the dead, the wounded who lost business and/or residental real estate;

- restructurings of the credits, including on provision of delay on repayment of the credits to injured clients;

- to not charge and not collection of the commission and other payments connected with review of conditions of credit agreements;

- to not charge and not collection of the penalty, including penalty (penalty/penalty fee), for non-execution / improper execution by injured clients of the obligations provided by credit agreements;

- to acceptance of other relief measures to injured clients within the provided services.

The above-stated measures need to be carried out taking into account economic forecasts, the analysis of the foreign and domestic market, cash flows and financial condition of clients with respect for the principles of conscientiousness, transparency, reliability, partnership in relation to clients, accounting of their economic interests and financial opportunities.

2. In case of overdue debt at the client who was injured in armed conflict, happened in September, 2022 in the Batken and Osh regions, commercial banks, non-bank and specialized financial credit institutions have the right not to worsen category of classification of asset, including in case of its restructuring in connection with change of financial flows and the current financial status of the client.

3. Commercial banks, non-bank and specialized financial credit institutions by provision of information in credit bureau shall specify the payment delay reason on the corresponding credits of clients as the injured events which took place in September, 2022 in the Batken and Osh regions.

4. Provide to credit bureau information on overdue loans of clients, the injured events which took place in September, 2022 in the Batken and Osh regions with mark in the corresponding column of the status of violation of conditions of the credit agreement "in view of the events which took place in September, 2022 in the Batken and Osh regions".

5. To commercial banks, non-bank and specialized financial credit institutions within 3 (three) working days from the date of official publication of this resolution to inform clients, the injured events which took place in September, 2022 in the Batken and Osh regions on this resolution by the publication of information on the official websites, and also by means of other means of communication with clients.

6. This resolution becomes effective from the date of its official publication and is effective till March 30, 2025.

7. To legal management:

- after receipt of the relevant documents within 1 (one) working day to 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.

8. To management of methodology of supervision after official publication within 1 (one) working day to bring this resolution to the attention of OYuL "Union of Banks of Kyrgyzstan", commercial banks, OYuL "Association of the Microfinancial Organizations", OYuL "National Association of Credit Unions and Cooperatives", non-bank and specialized financial credit institutions, credit bureaus, all structural divisions, regional managements and representative office of National Bank in Batken Province.

9. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising management of methodology of supervision.

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