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The document ceased to be valid since  November 1, 2019 according to item 4 of the Resolution of Board of National Bank of the Kyrgyz Republic of  August 14, 2019 No. 2019-P-12/42-1-(NPA)

RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 29, 2010 No. 96/2

About approval of the Provision "About the minimum requirements to the organization of internal control in commercial banks for the purpose of counteraction of legalization (washing) of the criminal income and to financing of terrorist or extremist activities

(as amended on 15-06-2017)

According to articles 7 and 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 Minimum Requirements to the Organization of Internal Control in Commercial Banks for the purpose of Counteraction of Legalization (Washing) of the Criminal Income and to Financing of Terrorist or Extremist Activities" it (is applied).

2. Declare invalid the Provision "About the Minimum Requirements to the Organization of Internal Control in the Commercial Banks and Other Financial Credit Institutes Licensed by NBKR for the purpose of Counteraction to Financing of Terrorism and to Legalization (Washing) of Income Gained in the Criminal Way" approved by the resolution of Board of National Bank of the Kyrgyz Republic of May 15, 2007 No. 26/1, registered in the Ministry of Justice of the Kyrgyz Republic on June 14, 2007, registration number 57-07.

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

4. 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.

5. To management of methodology of supervision and licensing to bring this resolution to the attention of commercial banks.

6. To impose control of execution of this resolution on the Acting vice-chairman of National Bank of the Kyrgyz Republic Myrzayev A. A.

 

Acting Chairman

B. Zheenbayeva

Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of December 29, 2010 No. 96/2

Regulations on the minimum requirements to the organization of internal control in commercial banks for the purpose of counteraction of legalization (washing) of the criminal income and to financing of terrorist or extremist activities

1. General provisions

1. This Provision is developed for the purpose of determination of the minimum requirements on the organization of internal control in the commercial banks including performing activities according to the Islamic principles of banking and financing, the banks having Islamic window, the microfinance companies attracting deposits, JSC Finance Company of Credit Unions, National bank of development of the Kyrgyz Republic (further - banks), for the purpose of counteraction of legalization (washing) of the criminal income and to financing of terrorist or extremist activities, and also carrying out the transactions having signs of suspicious transactions (further - POD/FTE).

2. The National Bank of the Kyrgyz Republic (further - National Bank) carries out inspection of activities of banks 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 (further - authorized state body).

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