RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 30, 2015 No. 20/2

About suspension of action of some Items of the Provision "About Licensing Procedure on the Right of Carrying Out Exchange Transactions with Cash Foreign Currency"

Having considered proposals of the Interdepartmental working group on the analysis and development of new possible ways of enhancement of fight against illegal license-free activities of exchange bureaus in the territory of the Kyrgyz Republic, for the purpose of reducing the shadow constituting economy of the Kyrgyz Republic by reducing number of the subjects of entrepreneurship performing exchange of cash foreign currency without license of National Bank of the Kyrgyz Republic, being guided by Articles 4, of 7, 34 and 43 Laws "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Suspend the paragraph of the fourth Item 1 and the subitem "z" of Item 9 of the Provision "About Licensing Procedure on the Right of Carrying Out Exchange Transactions with Cash Foreign Currency" approved by the resolution of Board of National Bank of the Kyrgyz Republic of July 27, 2011 No. 40/4, for a period of 3 (three) months from the date of entry into force of this resolution.

2. Determine that during action of the term specified in Item 1 of this resolution, the minimum amount of current assets when opening by the legal entity of one exchange bureau constitutes 500 000 (five hundred thousand) som.

3. To legal management of National Bank of the Kyrgyz Republic:

- publish this resolution on the official site 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.

4. This resolution becomes effective from the date of official publication.

5. To management of inspection of National Bank of the Kyrgyz Republic to inform exchange bureaus this resolution.

6. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic L. Orozbayeva.

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