RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 28, 2022 No. 2022-P-10/83-11-(NPA)

About approval of the Provision "About Registration of Accounts and Deposits of the Residents of the Kyrgyz Republic Opened in Foreign Banks"

According to Articles 5, of 9, "About National Bank of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides 29 and 64 constitutional Laws of the Kyrgyz Republic:

1. Approve the Provision "About Registration of Accounts and Deposits of the Residents of the Kyrgyz Republic Opened in Foreign Banks" it (is applied).

2. Recognize invalid:

1) the resolution of Board of National Bank of the Kyrgyz Republic "About Regulations on registration of accounts and deposits of the residents of the Kyrgyz Republic opened in foreign banks" of July 5, 2000 No. 26/2;

2) in the resolution of Board of National Bank of the Kyrgyz Republic "About modification of some regulatory legal acts of National Bank of the Kyrgyz Republic" of June 14, 2017 No. 2017-P-10/24-1-(NPA):

- Item 1 paragraph two;

- Item 1 of Appendix to the resolution.

3. This resolution becomes effective from the date of publication.

4. To legal management:

- from the date of receipt of the relevant documents within 3 (three) working days 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 inclusion in the State register of regulatory legal acts of the Kyrgyz Republic.

5. To management of financial statistics and overview within 3 (three) working days to bring this resolution to the attention of commercial banks.

6. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising management of financial statistics and the overview.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of December 28, 2022 No. 2022-P-10/83-11-(NPA)

Regulations on registration of accounts and deposits of the residents of the Kyrgyz Republic opened in foreign banks

This Provision establishes order of registration in National Bank of the Kyrgyz Republic of the accounts and deposits opened by residents of the Kyrgyz Republic - legal entities in foreign banks and the procedure of the reporting under them.

Chapter 1. General provisions

1. For the purposes of this provision the following terms and concepts are used:

1) the paying balance of the Kyrgyz Republic is statistical reporting in which total data on the external economic transactions of the Kyrgyz Republic with other countries of the world for certain period of time are reflected;

2) residents are:

- the legal entities created according to the legislation of the Kyrgyz Republic with the location in the Kyrgyz Republic;

- branches and representations of foreign legal entities created according to the legislation of the Kyrgyz Republic with the location in the Kyrgyz Republic;

3) nonresidents are the persons which are not residents including diplomatic and other representations of the foreign states and the international organizations which are in the Kyrgyz Republic;

4) foreign bank - bank or other financial credit institution registered outside the Kyrgyz Republic and having the right to implementation of banking activity by the legislation of that country where it is registered;

5) the currency and metal accounts opened by residents in foreign banks which are subject to registration in National Bank of the Kyrgyz Republic hereinafter are referred to as as accounts;

6) currency accounts are foreign bank accounts on which there is foreign currency of residents of the Kyrgyz Republic;

7) metal accounts (including depersonalized) are foreign bank accounts on which there is gold and other precious metals of residents of the Kyrgyz Republic;

8) contribution - the money deposited by residents in bank based on bank deposit agreement, on the terms of urgency, recoverability and the paid nature.

Chapter 2. The purposes and tasks of registration of the accounts and deposits opened by residents of the Kyrgyz Republic in foreign banks

2. The purpose of registration by National Bank of the Kyrgyz Republic of the accounts and deposits opened by residents of the Kyrgyz Republic in foreign banks is enhancement of information base for creation of paying balance of the Kyrgyz Republic.

3. Task of registration of the accounts and deposits opened by residents of the Kyrgyz Republic in foreign banks is accounting of remaining balance of means on the accounts and deposits opened in foreign banks and reflection of the changes which happened on these accounts and deposits for the accounting period in paying balance of the Kyrgyz Republic.

Chapter 3. Registration of the accounts and deposits opened by residents of the Kyrgyz Republic in foreign banks

4. The residents of the Kyrgyz Republic opening accounts and deposits in foreign banks notify on it National Bank of the Kyrgyz Republic for the purpose of their further registration.

5. For registration in National Bank of the Kyrgyz Republic of the accounts and deposits opened in foreign banks by residents of the Kyrgyz Republic it is necessary to provide the notification to National Bank of the Kyrgyz Republic (appendix 1), with indication of details of the resident of the Kyrgyz Republic opening the account or contribution, details of foreign bank in which it is opened the account or contribution, and the detailed information about the opened account or contribution. The notification can be directed by mail (registered mail) or is handed over in expedition of National Bank of the Kyrgyz Republic by the courier.

6. The National Bank of the Kyrgyz Republic registers the accounts and deposits opened in foreign banks by residents of the Kyrgyz Republic within 5 calendar days from the date of receipt of the notification, according to this Provision and in writing notifies the resident on registration of the account opened for them in foreign bank.

7. Registration of accounts and deposits of the residents of the Kyrgyz Republic opened in foreign banks is made by entering in the Book of registration of accounts and deposits of the residents of the Kyrgyz Republic opened in foreign banks (appendix 2).

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