RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of December 26, 2023 No. 488

About approval of the Instruction about procedure for provision of money in the form of the credit and their return (repayment)

Based on Article part three 22, of the paragraph of the fourteenth of Article 26, 7, parts four of Item 1 of Article 16, of Item 1 of article 23 of the Law of the Republic of Belarus of February 17, 2025 No. 62-Z "About consumer loan and consumer microloan" the Board of National Bank of the Republic of Belarus DECIDES: parts one of article 39 of the Bank code of the Republic of Belarus and part one of Item 2 of Article

1. Approve the Instruction about procedure for provision of money in the form of the credit and their return (repayment) it (is applied).

2. This resolution becomes effective since January 15, 2024.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of December 26, 2023 No. 488

The instruction about procedure for provision of money in the form of the credit and their return (repayment)

Chapter 1. General provisions

1. This Instruction determines procedure and conditions of provision by banks, non-bank credit and financial organizations (further – NKFO) money in the form of the credit (further – loan granting) and their return (repayment) based on the credit agreement or other agreement containing essential conditions of the credit agreement (further – the credit agreement). The loan is granted to legal entities (including to banks, NKFO) and to the individual entrepreneurs performing business activity both with opening and without opening of the current (settlement) bank accounts (further – individual entrepreneurs), in Belarusian rubles and foreign currency, to physical persons, except for individual entrepreneurs (further – physical persons), – in Belarusian rubles.

2. For the purposes of this Instruction following terms are used in the following values:

renewable credit line – credit line, on which perhaps numerous provision of trenches of the credit (credit) taking into account earlier returned (extinguished) amount of tranche of the credit (credit amount) within the maximum size (limit) of the credit and (or) the extreme size of one-time debt on it established in the credit agreement during the term determined by the credit agreement;

the greys-period – the period specified in the credit agreement during which interests on credit are not charged or charged in the lowered size;

the applicant – the legal entity (including bank, NKFO), the individual entrepreneur or the physical person who addressed to bank, NKFO behind receipt of the credit;

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