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It is registered

Ministry of Justice

Kyrgyz Republic

On April 26, 2007 No. 46-07

RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 28, 2007 No. 16/5

About the Provision "About Determination of Dominant Position in the Market of Banking Services"

(as amended on 08-06-2017)

Having considered the project of the Provision "About determination of dominant position in the market of banking services, being guided by item 4 of article 7 of the Law of the Kyrgyz Republic "About banks and banking activity in the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About Determination of Dominant Position in the Market of Banking Services" it (is applied).

2. To management of methodology of supervision and licensing together with Legal department to carry out in accordance with the established procedure state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic.

3. This resolution becomes effective from the moment of official publication after state registration in the Ministry of Justice of the Kyrgyz Republic.

4. After publication of the registered regulation 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 National Bank of the Kyrgyz Republic Bokontayev K. K.

Chairman of the board

M. Alapayev

Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of March 28, 2007 No. 16/5

Regulations on determination of dominant position in the market of banking services

I. General provisions

1.1. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 08.06.2017 No. 2017-P-14/23-16

1.2. This Provision determines the actions applied by National Bank of the Kyrgyz Republic (further - National Bank) in the field of anti-monopoly regulation, development of the competition and consumer protection in the market of banking, microfinancial and payment services (further - banking services) and the transactions in the Kyrgyz Republic rendered by commercial banks, other non-bank financial credit institutions and legal entities (operators of payment systems and payment institutes), persons under surveillance to National Bank and National bank of development of the Kyrgyz Republic (further - persons providing banking services).

1.3. For the purpose of this provision the following concepts are used:

a) banking services - services, including transactions and transactions of persons providing the banking services provided to legal entities and physical persons according to the legislation of the Kyrgyz Republic;

b) the market of banking services - field of activity of persons providing the banking services in the territory of the Kyrgyz Republic or its part determined proceeding from the place of provision of banking service to consumers and types of banking services;

c) the competition in the market of banking services - free competitiveness between persons providing banking services in case of which their independent actions limit possibility of each of them unilaterally to influence general terms of implementation of activities in the market of banking services, including by segments of services;

d) monopolistic activities in the market of banking services - abuse of persons providing banking services, group of persons by the dominant position, the agreements or coordinated actions contradicting the antitrust law, actions (failure to act) of persons providing banking services (groups of persons) directed to non-admission, restriction or elimination of the competition;

e) unfair competition in the market of banking services - actions of persons providing banking services which contradict the antitrust law and business customs establish unreasonable benefit by provision of banking services and cause or can cause losses to other persons providing banking services - competitors in the market of banking services or to cause damage to their goodwill;

e) dominant position in the market of banking services - exclusive provision of person providing banking services or groups of persons, providing banking services, giving chance to exert decisive impact on general terms of provision of banking services and/or to complicate access to the market of banking services to other persons providing banking services of the Kyrgyz Republic;

g) anti-competitive agreements (coordinated actions) - the arrangement in writing containing in the document or several documents and also the arrangement in oral form which proof can be analysis of changes of situation in the market of banking services;

h) abuse of dominant position - actions of persons providing banking services which have or can have the result essential restriction of the competition and/or infringement of interests of other persons providing bank rival services in the market of banking services.

II. Signs of dominant position in the market of banking services

2.1. The analysis of factors is made for establishment of availability of dominant position of person providing banking services in the market of banking services and also on any kind of banking services, including:

a) determination of share of person providing banking services in the market of banking services on types of service for the purpose of identification of person providing banking services with the greatest share and extents of its influence on the market in general and/or on separate types of service;

b) availability of competitors and potential competitors;

c) the existing practice of price fixation (rates) in the market of banking services;

d) availability of obstacles for market penetration (determination of barriers of occurrence on the market);

e) the analysis of possible actions of competitors in response to anti-competitive behavior of the person providing banking services, holding dominant position;

e) accounting of temporary aspect of domination;

e-1) affiliation availability;

g) other aspects which can have significant effect on the market of banking services.

2.2. Characteristic signs of dominant position of person providing banking services in the market of banking services (on any kind of banking services) are:

a) the share of person providing banking services in the market of banking services exceeds 35% or the extreme value (the maximum share in the market) established by Board of National Bank;

b) use of person, the providing banking services of dominant position for creation of the conditions limiting the competition in the markets of similar banking services;

c) availability of opportunity to control the prices of certain products and services for the purpose of elimination of competitors, rivals and/or price increase;

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