RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of November 25, 2015 No. 71/11

About approval of the Provision "About licensing of activities of operators of payment systems and payment institutes

According to articles 7 and 43 of the Law "About National Bank of the Kyrgyz Republic", the laws "About Payment System of the Kyrgyz Republic" and "About Licensed Authorization System in the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About Licensing of Activities of Operators of Payment Systems and Payment Institutes" it (is applied).

2. Declare invalid the Resolution of Board of National Bank of the Kyrgyz Republic "About approval of the Provision "About Licensing of Activities of Operators of Payment Systems and Payment Institutes" of December 24, 2014 No. 58/9;

3. To legal management:

- 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 after fifteen days from the date of official publication.

5. To management on work with documents and communications to bring this resolution to the attention of structural divisions, regional managements and Representative office of National Bank in Batken Province.

6. To management of payment systems to bring this resolution to the attention of operators of payment systems, payment institutes and commercial banks of the Kyrgyz Republic.

7. To impose control of execution of this Resolution on the vice-chairman of National Bank of the Kyrgyz Republic Zheenbayeva B. Zh.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of November 25, 2015 No. 71/11

Provision "About Licensing of Activities of Operators of Payment Systems and Payment Institutes"

Chapter 1. General provisions

1. This Regulations on licensing of activities of operators of payment systems and payment institutes (further - the Provision) determine procedure for licensing by National Bank of the Kyrgyz Republic (further - National Bank) activities on:

a) to rendering services in 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;

b) to rendering services in acceptance, processing and issue of financial information (processing, clearing) on payments and calculations of the third parties to members of payment service provider, this processing, clearing center.

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