RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 19, 2025 No. 2025-P-12/68-2-(NPA)

About approval of the Provision "About the Minimum Requirements to the Organization of Internal Control in Exchange Bureaus for the purpose of Counteraction to Financing of Criminal Activities and to Legalization (Washing) of the Criminal Income" and modification of some regulatory legal acts of National Bank of the Kyrgyz Republic concerning counteraction to financing of criminal activities and to legalization (washing) of the criminal income

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. Approve the Provision "About the Minimum Requirements to the Organization of Internal Control in Exchange Bureaus for the purpose of Counteraction to Financing of Criminal Activities and to Legalization (Washing) of the Criminal Income" (Appendix 1).

2. Make changes to the following resolutions of Board of National Bank of the Kyrgyz Republic (Appendix 2):

- "About approval of the Provision "About Classification of Assets and the Corresponding Allocations to Reserve on Covering of Potential Losses and Losses" of July 21, 2004 No. 18/3;

- "About approval of the Provision "About Committee on Supervision of National Bank of the Kyrgyz Republic" of March 19, 2005 No. 6/2;

- "About Regulations of activities of credit unions in the Kyrgyz Republic" of May 4, 2005 No. 14/2;

- "About approval of the Provision "About Direct Banking Supervision" of May 28, 2008 No. 22/4;

- "About approval of "Rules of creation and/or acquisition of the subsidiary or dependent companies by commercial banks of the Kyrgyz Republic" of June 10, 2009 No. 26/3;

- "About approval of the Provision "About the Transactions Performed according to the Islamic Principles of Banking and Financing" of September 23, 2009 No. 38/8;

- "About approval of the Provision "About the Minimum Requirements on Credit Risk Management in Credit Unions" of December 23, 2009 No. 50/7;

- "About some regulatory legal acts of National Bank of the Kyrgyz Republic" of September 14, 2011 No. 52/4;

- "About approval of the Provision "About the Transactions Performed by the Microfinancial Organizations and Credit Unions according to the Islamic Principles of Banking and Financing" of October 26, 2011 No. 60/8;

- "About approval of the Instruction for work with bank accounts, accounts on bank deposits (deposits)" of October 31, 2012 No. 41/12;

- "About approval of "Operating procedure of the commercial banks and other financial credit institutions licensed and regulated by National Bank of the Kyrgyz Republic with mortgage property" of July 4, 2012 No. 28/7;

- "About approval of the Instruction for provision of the Kyrgyz Republic by commercial banks to clients of individual bank safe deposit boxes" of September 12, 2012 No. 37/2;

- "About approval of the Regulations on the minimum requirements on credit risk management in the microfinancial organizations which are not attracting deposits (deposits)" of September 25, 2013 No. 35/14;

- "About approval "Regulations on the minimum requirements on credit risk management in the credit unions performing transactions according to the Islamic principles of banking and financing" of December 23, 2013 No. 52/7;

- "About approval of the Regulations on the minimum requirements to external audit of the banks and other financial credit institutions licensed by National Bank of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-2-(NPA);

- "About approval of Rules of forming of internal control system and internal audit in the banks and non-bank financial credit institutions licensed and regulated by National Bank of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-3-(NPA);

- "About the Provision "About the Corrective Actions Applied to the Banks Licensed by National Bank of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-4-(NPA);

- "About approval of the Provision "About the Minimum Requirements on Risk Management in Banks of the Kyrgyz Republic" of June 15, 2017 No. 2017-P-12/25-8-(NPA);

- "About approval of the Instruction about implementation of banking supervision" of June 20, 2018 No. 2018-P-12/24-2-(NPA);

- "About approval of the Provision "About the Minimum Requirements on Risk Management in the Banks Performing Transactions according to the Islamic Principles of Banking and Financing" of July 18, 2018 No. 2018-P-12/30-3-(BS);

- "About approval of the Instruction for work with bank accounts, the accounts on bank deposits (deposits) opened according to the Islamic principles of banking and financing" of June 13, 2019 No. 2019-P-12/31-2-(NPA);

- "About approval of the Provision "About the Minimum Requirements to the Organization of Internal Control in Commercial Banks for the purpose of Counteraction to Financing of Terrorist Activities and to Legalization (Washing) of the Criminal Income", the Provision "About Procedure for Carrying Out Exchange Transactions with Cash Foreign Currency in the Kyrgyz Republic" and modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic concerning counteraction to financing of terrorist activities and to legalization (washing) of the criminal income" of August 14, 2019 No. 2019-P-12/42-1-(NPA);

- "About approval of the Provision "About the Minimum Requirements to the Organization of Internal Control in the Microfinancial Organizations, Credit Unions and Specialized Financial Institutions of the Kyrgyz Republic for the purpose of Counteraction to Financing of Terrorist Activities and to Legalization (Washing) of the Criminal Income" of August 21, 2019 No. 2019-P-33/43-6-(NFKU);

- "About approval of Regulations of activities of the housing and savings credit companies" of November 1, 2019 No. 2019-P-33/55-2-(NFKU);

- "About procedure for identification and verification of clients in the remote mode" of May 13, 2020 No. 2020-P-12/27-1-(NPA);

- "About the Procedure for identification and verification of clients of the microfinancial organizations in the remote mode" of September 30, 2020 No. 2020-P-33/54-3-(NFKU);

- "About approval of Regulations of activities of guarantee funds" of February 28, 2024 No. 2024-P-12/8-3-(NPA);

- "About approval of the Provision "About the Minimum Requirements to the Code of Corporate Governance of Commercial Banks of the Kyrgyz Republic" of December 27, 2024 No. 2024-P-12/71-4-(NPA).

3. Declare invalid:

1) the resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About the Minimum Requirements to the Organization of Internal Control in Exchange Bureaus in the Kyrgyz Republic for the purpose of Counteraction to Financing of Terrorist Activities and to Legalization (Washing) of the Criminal Income" of August 21, 2019 No. 2019-P-33/43-7-(NFKU);

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 December 21, 2022 No. 2022-P-12/81-7-(NFKU):

- paragraph the twentieth Item 1;

- Item 19 of Appendix to the above-stated resolution;

3) 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, 2023 No. 2023-P-12/38-4-(NPA):

- paragraph the eleventh Item 1;

- Item 10 of Appendix to the above-stated resolution;

4) 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 concerning counteraction to financing of terrorist activities and to legalization (washing) of the criminal income" of December 27, 2023 No. 2023-P-12/82-7-(NPA):

- paragraph of the sixth of Item 1;

- Item 5 of Appendix to the above-stated resolution.

4. This resolution becomes effective after 15 (fifteen) days from the date of official publication.

5. 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.

6. To management of methodology of supervision after official publication within 3 (three) working days 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 of Kyrgyzstan", OYuL "Association of exchange bureaus "Alyans", JSC Finance Company of Credit Unions, microfinancial organizations, credit unions, credit bureaus, guarantee funds and exchange bureaus.

7. To department "Secretariat of Board" within 3 (three) working days from the date of adoption of this resolution to bring it to the attention of structural divisions, regional managements and Representative office of National Bank of the Kyrgyz Republic in Batken Province.

8. 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.

Appendix 1

to the Resolution of Board of National Bank of the Kyrgyz Republic of December 19, 2025 No. 2025-P-12/68-2-(NPA)

Regulations on the minimum requirements to the organization of internal control in exchange bureaus in the Kyrgyz Republic for the purpose of counteraction to financing of criminal activities and to legalization (washing) of the criminal income

Chapter 1. General provisions

1. The purpose of this provision is determination of the minimum requirements on the organization of internal control in the exchange bureaus having the license of National Bank of the Kyrgyz Republic (further - National Bank), for the purpose of counteraction to financing of criminal activities and to legalization (washing) of the criminal income (further - PFPD/LPD).

2. The National Bank exercises supervision of activities of exchange bureaus concerning the organization of internal control for the purpose of PFPD/LPD.

3. For the purposes of this provision the following concepts are used:

1) Close relatives are the parents, adoptive parents adopted, full and not full brothers and sisters, the grandfather, the grandmother, grandsons concerning whom the public official incurs finance costs regarding covering of expenses on accommodation, education, health care and other necessary expenses.

2) Internal control - set of measures for identification of transactions (transactions) which are subject to control and the message and suspicious transactions (transactions), and also on prevention of other transactions (transactions) with money which are directly connected with financing of criminal activities and legalization (washing) of the criminal income.

3) Identification - the procedure of establishment of identification data on the client and (or) the beneficial owner.

4) Verification - the procedure of verification of identification data of the client and (or) beneficial owner.

5) the Beneficial owner - physical person (physical persons) which finally (through chain of ownership and control) directly or indirectly (through the third parties) owns the property right or controls the client or the physical person, from name or for the benefit of which transaction (transaction) is made.

6) the Program of internal control - the internal measures, procedures and control systems used by exchange bureau for the purpose of execution of the legislation of the Kyrgyz Republic in the field of PFPD/LPD.

7) Identification of the transactions which are subject to control and the message - stage of the organization of internal control for the purpose of PFPD/LPD which includes activity definition, subject to control and the message.

8) Source of origin of money are data on origin of the specific money or assets which are subject of business relations between the client and exchange bureau. The acquired information shall be informative, with indication of source and/or the bases of obtaining or acquisition of these means or assets.

9) the Source of origin of other property are data on origin of cumulative property of the public official (source of forming of all assets belonging to the client). The acquired information reflects data on condition of the client and as the client received it.

10) Transaction (transaction), subject to control and the message - transactions (transaction) with money provided in Articles 23, of 24, of 25, 26 Laws of the Kyrgyz Republic "About counteraction to financing of criminal activities and to legalization (washing) of the criminal income".

11) the High risk countries - the states and the territories (education) which do not apply or apply in insufficient degree international standards on counteraction to money laundering, financing of terrorism and financing of distribution of weapons of mass destruction, and also offshore zones.

12) Public officials - one of the following physical persons:

a) Foreign public official - the face performing or performing considerable state or political functions (public functions) in foreign state (the head of states or the governments, management officials in the government, courts, armed forces, state bodies, the companies or organizations, prominent politicians, including eminent persons of political parties);

b) The national public official - the person borrowing or holding the political and special state position in the Kyrgyz Republic provided by the Register of the state and municipal positions approved by the President of the Kyrgyz Republic and also the top management of the state corporations, prominent politicians, including eminent persons of political parties;

c) The public official of the international organization - the management official of the international organization to which are entrusted or important functions by the international organization (the heads, deputy managers and board members of the international organization or persons holding equivalent positions in the international organization) were entrusted.

13) Body of financial investigation - authorized state body of the Kyrgyz Republic in the field of counteraction to financing of criminal activities and to legalization (washing) of the criminal income.

14) One-time transaction (transaction) - transaction (transaction) performed once in the absence of permanent business relations (contractual relations) between the client and exchange bureau.

15) the Risk-oriented approach - application of the strengthened measures with high risk level or the simplified measures with low risk level according to the established procedures of risk management (identification, assessment, monitoring, control, decrease in risk degree).

16) Sanctions lists - Summary sanctions list of the Kyrgyz Republic and Summary sanctions list of the UN Security Council.

17) Suspicious transaction (transaction) - transaction (transaction) falling under the following signs:

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