It is registered
Ministry of Justice of the Kyrgyz Republic
March 23, 2007
of February 14, 2007 No. 7/2
About approval of the Provision "About the Minimum Requirements to the Organization of Internal Control in the Microfinancial Organizations and Credit Unions for the purpose of Counteraction of Legalization (Washing) of the Criminal Income and to Financing of Terrorist or Extremist Activities"
Having considered the project of the Provision "About the Minimum Requirements to Internal Control System in the Microfinancial Organizations and Credit Unions for the purpose of Counteraction to Financing of Terrorism and to Legalization (Washing) of Income Gained in the Criminal Way", being guided by the Laws of the KR "About National Bank of the Kyrgyz Republic", "About banks and banking activity in the Kyrgyz Republic" and "About counteraction to financing of terrorism and legalization (about received in the criminal way", the Board of National Bank of the Kyrgyz Republic decides:
1. Approve the Provision "About the Minimum Requirements to the Organization of Internal Control in the Microfinancial Organizations and Credit Unions for the purpose of Counteraction of Legalization (Washing) of the Criminal Income and to Financing of Terrorist or Extremist Activities" it (is applied).
2. To management of methodology of supervision and licensing together with Legal department in accordance with the established procedure to carry out state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic.
4. After publication of the registered regulatory legal act to Legal department to inform the Ministry of Justice of the Kyrgyz Republic on publication source (the name of the edition, its number and date).
5. To impose control of execution of this resolution on the vice-chairman of NBKR Bokontayev K. K.
Chairman of the board
Alapayev M. O.
Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of February 14, 2007 No. 7/2
1.1. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 15.06.2017 No. 2017-P-12/25-12
1.2. The purpose of this provision is determination of the minimum requirements on the organization of internal control in the microfinancial organizations which are not attracting deposits, credit unions and specialized financial institutions of the Kyrgyz Republic (further - IFI, KS, SFU) for the purpose of counteraction of legalization (washing) of the criminal income and to financing of terrorist or extremist activities (further - POD/FTE).
1.3. The National Bank of the Kyrgyz Republic (further - National Bank) carries out inspection of activities of IFI, KS, SFU concerning the organization of internal control for the purpose of POD/FTE and sends information on its results to authorized state body in the sphere of POD/FTE.
1.4. For the purposes of this provision the following concepts are used:
Suspicious transaction (transaction) - transaction (transaction) falling under signs of suspicious transactions (transactions) according to the Law "About Counteraction of Legalization (Washing) of the Criminal Income and to Financing of Terrorist or Extremist Activities" (further - the Law "About POD/FTE"), that is transactions (transaction) made with money or other property which have no clear economic or obvious legal aim and are not characteristic of activities of this legal entity or physical person (persons) according to the list of signs of suspicious transactions approved by authorized state body.
Internal control - set of the measures taken by IFI, KS, SFU on identification of transactions (transactions) which are subject to mandatory control and suspicious transactions (transactions) and also for prevention of other transactions (transactions) with money or property which are directly connected with legalization (washing) of the criminal income and financing of terrorist or extremist activities.
Identification - establishment of IFI, KS, SFU of data on the basis of the originals provided by physical persons or legal entities or properly certified copies of documents according to the Law "About POD/FTE".
Verification - the actions for refining or proper check of results of identification performed by IFI, KS, SFU for the purpose of internal control.
The concept "Extremist Activities" meets standards of conceptual framework of the Law of the Kyrgyz Republic "About counteraction of extremist activities".
The beneficial owner (beneficiary) is person:
having property right to money or property, and from name and/or at the expense of which the client makes transaction (transaction) with money or property, and/or
having opportunity directly or indirectly to influence making by the client of transactions (transactions) with money or property, according to the signed contract between such person and the client, and/or
person for benefit of whom finally transaction (transaction) with money or property is made.
Foreign politically significant persons - citizens of foreign states to whom were provided or are presented considerable state and political functions in foreign state (the head of states or the governments, the high-ranking politicians, management officials in the government, courts, armed forces, law enforcement and fiscal agencies, heads and figures of political parties and religious associations), including former.
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