RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of October 31, 2012 No. 41/12

About approval of the Instruction for work with bank accounts, accounts on bank deposits (deposits)

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 Instruction for work with bank accounts, by accounts on bank deposits (deposits) it (is applied).

2. Publish this resolution on the official site of National Bank of the Kyrgyz Republic.

3. After official publication to send to Legal Management this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into 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, microfinance companies attracting deposits and Public service of financial investigation of the Kyrgyz Republic under the Government of the Kyrgyz Republic.

5. Declare invalid:

- the resolution of Board of National Bank of the Kyrgyz Republic of October 16, 2006 No. 30/2 "About modification and amendments in the Temporary instruction for work with deposits", registered in the Ministry of Justice of the Kyrgyz Republic on November 28, 2006, registration number 119-06;

- the resolution of Board of National Bank of the Kyrgyz Republic of June 27, 2008 No. 25/9 "About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic "About the Temporary instruction for work with deposits" No. 4/4 of February 19, 2003", registered in the Ministry of Justice of the Kyrgyz Republic on July 17, 2008, registration number 80-08;

- the resolution of Board of National Bank of the Kyrgyz Republic of July 29, 2009 No. 32/4 "About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic of February 19, 2003 No. 4/4 "About the Temporary instruction for work with deposits", registered in the Ministry of Justice of the Kyrgyz Republic on March 25, 2003, registration number 25-03";

- the resolution of Board of National Bank of the Kyrgyz Republic of February 24, 2010 No. 3/9 "About modification and amendments in the resolution of Board of National Bank of the Kyrgyz Republic of February 19, 2003 No. 4/4 "About the Temporary instruction for work with deposits", registered in the Ministry of Justice of the Kyrgyz Republic on March 25, 2003, registration number 25-03";

- the resolution of Board of National Bank of the Kyrgyz Republic of June 1, 2011 No. 31/4 "About procedure for opening of bank accounts to the entrepreneurs injured with robberies, marauding and the fires in June, 2010 in the city of Osh, the Jalal-Abad and Osh regions for the purpose of receipt of compensation based on the order of the Government of the Kyrgyz Republic of May 16, 2011 No. 228";

- part II of Appendix to the resolution of Board of National Bank of the Kyrgyz Republic of September 29, 2011 No. 55/9 "About modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic"

- part II of Appendix to the resolution of Board of National Bank of the Kyrgyz Republic of August 17, 2012 No. 34/4 "About modification and amendments in some regulatory legal acts of National Bank of the Kyrgyz Republic.

6. This resolution becomes effective since January 1, 2013.

7. To impose control of execution of this resolution on the vice-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 October 31, 2012 No. 41/12

Instruction for work with bank accounts, accounts on bank deposits (deposits)

This Instruction determines procedure for opening, maintaining and closing of bank accounts, accounts on bank deposits (deposits) of physical persons, individual entrepreneurs and legal entities (further - clients) the commercial banks, specialized financial credit institution of JSC Finance Company of Credit Unions, microfinance companies, credit unions attracting deposits, licensed by National Bank of the Kyrgyz Republic (further - National Bank), and also National bank of development of the Kyrgyz Republic, the housing and savings credit companies (further - banks). Requirements of this Instruction extend to the microfinance companies attracting deposits taking into account the restrictions set by National Bank according to article 16 of the Law of the Kyrgyz Republic "About the microfinancial organizations in the Kyrgyz Republic", on the credit unions attracting deposits taking into account the restrictions set by National Bank according to article 4 of the Law of the Kyrgyz Republic "with", and on National bank of development of the Kyrgyz Republic taking into account the features provided by the Law of the Kyrgyz Republic "About National bank of development of the Kyrgyz Republic". Requirements of this Instruction extend also to the housing and savings credit companies taking into account features, stipulated by the legislation the Kyrgyz Republic in the sphere of regulation of activities of the housing and savings credit companies.

The purpose of this Instruction is establishment of the minimum requirements to operating mode with bank accounts, accounts on bank deposit (deposit) and procedure for carrying out transactions on them.

This Instruction does not extend much opening and closings of the accounts other than bank account agreement or bank deposit (deposit), according to the legislation of the Kyrgyz Republic.

Chapter 1. General provisions

1. Attraction of deposits and other money from legal entities and physical persons is one of main types of transactions of banks according to the laws of the Kyrgyz Republic "About banks and banking activity", "About the microfinancial organizations in the Kyrgyz Republic" and "About credit unions" in the presence of the license of National Bank. The procedure for opening, maintaining and closing of bank accounts, accounts on bank deposits (deposits) is performed according to the legislation of the Kyrgyz Republic and regulatory legal acts of National Bank.

2. Each bank shall develop the relevant internal regulating documents (politicians, procedures, etc.) regulating operating procedure with bank accounts, accounts on bank deposits (deposits) which are subject to approval of bank by authorized bodies of management (The board of directors or Board depending on the status of the document). All basic provisions concerning transactions with bank accounts, accounts on bank deposits (deposits) shall be reflected in internal documents of bank: procedure for opening of bank accounts, accounts on bank deposits (deposits), order conditions the money placed on these accounts, payment procedure of money and the added percent on bank deposit agreements (deposit), the right of the client and the obligation of bank to it, procedure for closing of bank accounts, accounts on bank deposits (deposits), procedure for storage of information in bank, etc. and also the procedure of identification and studying of the clients by banks developed according to requirements of this Instruction.

Internal documents of bank also shall contain all types of the internal reporting provided by bank.

3. For prevention of carrying out the transactions connected with financing of terrorist activities and legalization (washing) of the criminal income, banks shall develop politicians and procedures of internal control, the corresponding difficulties and to scales of activities of bank, including on transactions (transactions) from remote access without direct contact with the client, and subject to obligatory and full compliance.

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