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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of September 28, 2016 No. 40/5

About approval of Regulations of activities of credit bureaus in the territory of the Kyrgyz Republic

(as amended on 23-12-2020)

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 Regulations of activities of credit bureaus in the territory of the Kyrgyz Republic (are applied).

2. This resolution becomes effective after fifteen days from the date of official publication.

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 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 credit bureaus.

5. The operating credit bureau to bring the activities into accord with this resolution within 4 months from the date of receipt of the license of National Bank of the Kyrgyz Republic.

6. To impose control of execution of this resolution on the board member of National Bank of the Kyrgyz Republic Dzhusupova T.Dzh.

Chairman

T. Abdygulov

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of September 28, 2016 No. 40/5

Regulations of activities of credit bureaus in the territory of the Kyrgyz Republic

Chapter 1. General provisions

1. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 31.05.2017 No. 21/8

2. Action of these rules extends to activities of all legal entities having license for activities on exchange of credit information and determines requirements to activities of credit bureau:

- on safety of credit stories;

- to functioning of credit bureau;

- on ensuring reliability and safety of data;

- on provision of the credit report;

- on change management in credit history;

- to the report of credit bureau;

- on the organization of internal audit of activities of credit bureau.

3. In these rules the following concepts are used:

exchange of credit information - interaction of credit bureau, the subject, supplier and user of credit information on collection, processing, the analysis, storage, provision, use and protection of credit information for the purpose of forming of credit history and provision of the credit report;

the subject of credit information - the legal entity or physical person which is acting respectively as the borrower (debtor), the leasing recipient, the guarantor, the guarantor, the pledger or having other financial debt and the obligation to the creditor according to the signed civil agreement;

the supplier of credit information - the legal entity or physical person providing to credit bureau credit information;

the user of credit information - the legal entity or physical person acting respectively as the creditor, the lessor, the pawnbroker;

credit information - data on condition of credit deal, on obligation fulfillment on the issued providing (pledge, guarantee, the guarantee and other types of providing), and also other information promoting determination of creditworthness, payment discipline and other qualities of the subject of credit information;

credit history - the set of credit information created by credit bureau concerning the subject of credit information;

credit bureau - the legal entity, being the commercial organization, the rendering service in implementation of exchange of credit information based on the license according to the legislation and regulations of National Bank of the Kyrgyz Republic;

the credit report - the document containing the complete or partial information which is part of credit history;

confidentiality - the property of information consisting in its unavailability or not disclosure of its content to not authorized persons, subjects or processes;

integrity - the property of information consisting in its accuracy and completeness;

availability - the property of information consisting that information suitable for use on demand the authorized subject and in the type and the place necessary for the user and when it is necessary for it;

the information security (IS) - ensuring confidentiality, integrity and availability of information;

means of cryptographic information security - hardware, program and the hardware and software, systems and complexes realizing the algorithms of cryptographic transformation of information intended for protection of integrity and confidentiality of information in case of its processing, storage and transfer on communication channels;

information security from leakage - package of measures, directed to prevention of uncontrollable distribution of the protected information on technical and collateral channels by means of special technical means;

information security from unauthorized access - package of measures, directed to prevention, the identification and elimination of possibility of receipt of the protected information by abuse of regulations of access to the protected information established by regulations or the owner (owner) of information;

information security from inadvertent impact - package of measures, directed to prevention of inadvertent impact on the protected information owing to the mistakes of the user, failures of the program technical means, the natural phenomena or other reasons which are not directed to change of information, but leading to misstatement, destruction, copying, blocking of information access, and also to its loss, destruction or to failure of functioning of the material data carrier;

the information system (IS) - the set of the interconnected information resources, technologies, methods and personnel intended for storage, processing and issue of information;

the consent of the subject of credit history - written or permission of the subject in electronic form of credit history for provision of information on him in the credit bureau or issue of the credit report on it to other persons from credit bureau which is drawn up according to the requirement, established by the legislation of the Kyrgyz Republic;

cross-border exchange - exchange of credit information according to the signed international agreement between the participants of information exchange located in the territory of state member of this agreement with the corresponding participant of information exchange located in the territory of other state member;

audit of IT - process of obtaining and assessment of objective data on current status of information system, the actions and events which are taking place in it, the establishing level of their compliance to certain criteria and reporting results to concerned parties.

the log file - the file of registration (magazine) which is keeping information on work of IS and information on actions of users in chronological order, including for example:

- date and time of visit of the user;

- IP address of the computer of the user;

- name of the browser of the user;

- URL of the page requested by the user.

4. The National Bank of the Kyrgyz Republic (further - National Bank) for the purpose of regulation of activities of credit bureau establishes requirements to the organization of activities for forming and use of credit stories, providing the minimum requirements of IB in case of collection, storage, accumulating, processing, transfer and destruction (exception) of the database of credit bureau and other information from credit stories which are obligatory for all credit bureaus.

5. The credit bureau as core activity performs forming of credit stories and provision of credit reports.

As additional types of activity the credit bureau can perform:

- realization of special literature and other information materials relating to activities of credit bureau;

- provision of the consulting services connected with information support of participants of system of forming of credit stories and their uses;

- exposure of credit ratings by certain criteria, agrees the technique developed by it;

- marketing and statistical investigations.

Credit bureaus have no right to perform other types of activity which are not provided by these rules.

6. For the purpose of ensuring transparency of the rendered services, information on commission fees and rates for rendering services, shall be open.

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