RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of November 30, 2016 No. 47/10

About approval of the Instruction "About conducting inspection checks of operators of payment systems and payment institutes"

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 "About conducting inspection checks 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 Instruction "About conducting inspection checks of operators of payment systems and payment institutes" of March 25, 2015 No. 19/11.

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 department of development of official language and document flow 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 commercial banks, operators of payment systems and payment institutes of the Kyrgyz Republic.

7. To impose control of execution of this resolution on the vice-chairman of National Bank Kyrgyz Republics Orozbayeva L.Dzh.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of November 30, 2016 No. 47/10

The instruction about conducting inspection checks of activities of operators of payment systems and payment institutes

Chapter 1. General provisions

1. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of the Kyrgyz Republic of 08.06.2017 No. 2017-P-14/23-11-(PS)

2. This Instruction "About conducting inspection checks of activities of operators of payment systems and payment institutes" (further - the Instruction) establishes the purposes, types and procedure of inspection checks of activities of payment institutes and operators of the payment systems (further - persons under surveillance of the organization) having the license of National Bank of the Kyrgyz Republic (further - National Bank) on the right of implementation of the following types of activity:

- 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;

- 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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