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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 30, 2011 No. 20/4

About approval of the Regulations on the periodic regulating report of the banks performing transactions according to the Islamic principles of banking and financing

(as amended on 15-09-2021)

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 Periodic Regulating Report of the Banks Performing Transactions according to the Islamic Principles of Banking and Financing" it (is applied).

2. This resolution becomes effective since July 1, 2011.

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 management of methodology of supervision and licensing to bring this resolution to the attention of commercial banks and regional managements of National Bank of the Kyrgyz Republic.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Abdybala tegin Page.

Acting Chairman

B. Zh. Zheenbayeva

 

Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of March 30, 2011 No. 20/4

Regulations on the periodic regulating report of the banks performing transactions according to the Islamic principles of banking and financing

1. General provisions

1. This Provision determines single form of the periodic regulating reporting of the banks performing transactions according to the Islamic principles of banking and financing (further - PRBO).

2. Action of this provision extends to all commercial banks performing transactions according to the Islamic principles of banking and financing (further - banks).

3. PRBO is constituted on the basis of accounting data and stand-alone accounting.

2. Purposes and tasks

4. PRBO is constituted for the purpose of carrying out the analysis:

a) financial condition of bank within carried out by National Bank of the Kyrgyz Republic (further - National Bank) the functions enshrined in the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity";

b) activities of bank for acceptance by heads of bank of management decisions, including decisions on ensuring liquidity, solvency and profitability.

5. The main task of PRBO - submission of the reliable and complete information about economic and economic activity of bank for ensuring accomplishment of the purposes specified in item 4 of this provision.

3. Content and frequency of representation of PRBO

6. PRBO represents the activity reporting of bank constituted in the established form for certain period and represented at the scheduled time.

7. Structure of the reporting in summary type, the summary and terms of submission of reports are given in appendix 1 to this Provision.

8. PRBO consists of 31 Sections.

4. Procedure for representation of PRBO

9. In each bank the employee who is responsible for completeness and reliability of content, terms of representation and correctness of filling of PRBO shall be appointed. Responsibility for interaction with National Bank on all questions concerning information containing in PRBO is also conferred on this employee.

10. PRBO is represented in National Bank in form according to appendix 2 to this Provision in the terms established for each report, on papers of information and on system of electronic communication (electronic media of information).

11. Reports on papers are submitted in National Bank at the scheduled time. Reports shall be submitted in the separate sealed envelopes containing 1-18 and 26-27 Sections, respectively. On envelopes numbers of Sections PRBO shall be specified.

12. Electronic versions 1-31 of Sections PRBO are transferred to National Bank. Electronic versions 19-31 of Sections PRBO also shall be followed by the electronic and digital signature (EDS). Cover letters of the established format to appropriate sections of PRBO also shall be signed by the EDS and are provided in electronic format.

13. In case of any discrepancies, mistakes, incomplete provision or incorrect filling of the PRBO forms, the relevant structural division of National Bank sends bank the letter on need of adjustment of the report with reflection in the financial reporting to the following terms:

- for the daily and weekly report - within 2 working days;

- for the monthly report - within 10 working days;

- for the quarterly report - within 10 working days;

- for the semi-annual report - within 15 working days;

- for the annual statement - within 30 working days.

The modified reports together with the cover letter of bank shall be submitted in National Bank: daily and weekly reports within 2 working days, monthly and quarterly reports within 3 working days, semi-annual and annual statements within 5 working days after receipt of the notification on availability of discrepancies.

14. In case of absence from National Bank of notes on PRBO or after reduction of the report in compliance with notes of National Bank and confirmation by the letter of PRBO bank it is deemed accepted by National Bank.

15. The branches of banks which are in areas represent to monthly relevant regional (regional) management of National Bank information concerning their activities till the 15th following for reporting, after representation of the consolidated PRBO by head office of bank. The list of the Sections PRBO represented by branches of banks to regional managements of National Bank in coordination with the supervising Deputy of the Chairman/board member of National Bank is established by the relevant structural division of National Bank.

16. Annual PRBO is represented in National Bank no later than February 15 of the following after accounting year.

17. The copy of the published financial reporting with the conclusion of independent audit company after approval by shareholder meeting within two working days is represented in National Bank.

18. Information for the days off and holidays announced and recommended for National Bank and commercial banks by the Government of the Kyrgyz Republic workers irrespective of, the bank during this period worked shall join and be provided in PRBO during fixed terms or not. At the same time the reports containing information in foreign currency in somovy equivalent shall be constituted with use of accounting rate of National Bank for date of creation of the report.

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