RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of May 26, 2010 No. 36/7

About approval of the Provision "About the Main Requirements to Activities of Commercial Banks in case of the Conclusion of the Agency Agreement on Provision of Banking Retail Services"

According to article 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About the Main Requirements to Activities of Commercial Banks in case of the Conclusion of the Agency Agreement on Provision of Banking Retail Services" it (is applied).

2. This resolution becomes effective after one month after official publication.

3. After official publication to send to Legal department 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.

4. To impose control of execution of this resolution on the Acting Chairman of National Bank of the Kyrgyz Republic Chokoyev Z. L.

Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of May 26, 2010 No. 36/7

Regulations on the main requirements to activities of commercial banks in case of the conclusion of the agency agreement on provision of banking retail services

1. General provisions

1. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 28.06.2017 No. 2017-P-14/28-3-(NPA))

2. The purpose of the Provision "About the Main Requirements to Activities of Commercial Banks in case of the Conclusion of the Agency Agreement on Provision of Banking Retail Services" (further - the Provision) is determination of the main requirements to commercial banks (further - bank) when implementing of activities for expansion of access to financial services by them by involvement of retail agents on provision of retail banking services to the population from bank name and creation of infrastructure of extra office banking (branchless banking).

3. Action of this provision extends to banks and the retail agents who signed the agency agreement about provision of banking retail services to the population from bank name according to the Civil code of the Kyrgyz Republic, the laws of the Kyrgyz Republic "About banks and banking activity", "About payment system of the Kyrgyz Republic", "About the microfinancial organizations in the Kyrgyz Republic", "About credit unions", "About counteraction to financing of terrorist activities and to legalization (washing) of the criminal income" (further - the legislation of the Kyrgyz Republic), this Provision and other regulatory legal acts of National Bank of the Kyrgyz Republic (further - National Bank).

4. The bank can involve as the retail agent the legal entity or the individual entrepreneur according to requirements of this provision. At the same time responsibility for obligation fulfillment by agents within the agreement is born by bank.

Retail agents can provide:

- expanded range of banking retail services;

- limited range of banking retail services.

5. Treat expanded range of banking retail services:

- acceptance and carrying out payments and calculations for the goods and services which are not result of the activities for benefit of the third parties by means of the payment systems based on information technologies and electronic means, and methods of carrying out payments;

- implementation of money transfers by means of money transfer systems;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info