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It is registered

Ministry of Justice

Kyrgyz Republic

On April 1, 2005 No. 44-05

RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 2, 2005 No. 4/1

About approval of Policy and the basic principles of anti-monopoly regulation, development of the competition and consumer protection in the market of the banking services of the Kyrgyz Republic rendered by the commercial banks, other financial credit institutions, operators of payment systems and payment institutes licensed and regulated by National Bank of the Kyrgyz Republic

(as amended on 15-06-2017)

Having considered the project of Policy and the basic principles of anti-monopoly regulation, development of the competition and consumer protection in the market of the banking services of the Kyrgyz Republic rendered by the commercial banks and other financial credit institutions licensed and regulated NBKR, being guided by article 7 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", item 4 of article 7 of the Law of the Kyrgyz Republic "About banks and banking activity", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve Policy and the basic principles of anti-monopoly regulation, development of the competition and consumer protection in the market of the banking services of the Kyrgyz Republic rendered by the commercial banks, other financial credit institutions, operators of payment systems and payment institutes licensed and regulated by National Bank of the Kyrgyz Republic it (is applied).

2. To management of methodology of supervision and licensing together with Legal department in accordance with the established procedure to carry out state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic.

3. This resolution becomes effective from the moment of official publication after state registration in the Ministry of Justice of the Kyrgyz Republic.

4. From coming into force of this resolution to declare invalid the resolution of Board of NBKR No. 45/12 of November 23, 2002 "About the Provision "About the Basic Principles of Anti-monopoly Regulation of the Market of Banking Services", registered in the Ministry of Justice of the Kyrgyz Republic for No. 163-02 of December 27, 2002.

5. To management of methodology of supervision and licensing of National Bank of the Kyrgyz Republic to bring this resolution to the attention of commercial banks, JSC Settlement and Savings Company, KSFK and FKPRKS.

6. After publication of the registered regulatory legal act to inform the Ministry of Justice of the Kyrgyz Republic on publication source (the name of the edition, its number and date).

7. To impose control of execution of this resolution on Omurzakova G. M., the vice-chairman of National Bank of the Kyrgyz Republic.

Chairman

Sarbanov U. K.

Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of March 2, 2005 No. 4/1

Policy and the basic principles of anti-monopoly regulation, development of the competition and consumer protection in the market of the banking services of the Kyrgyz Republic rendered by the commercial banks, other financial credit institutes, operators of payment systems and payment institutes licensed and regulated by National Bank of the Kyrgyz Republic

1. General provisions

1.1. Ceased to be valid according to the Resolution of Board of National Bank of the Kyrgyz Republic of 15.06.2017 No. 2017-P-12/25-12

1.2. The National Bank of the Kyrgyz Republic (further National Bank) exercises control of activities of commercial banks, other financial credit institutions, operators of the payment systems and payment institutes providing banking services based on the license (certificate) granted by National Bank of the Kyrgyz Republic, and National bank of development of the Kyrgyz Republic on observance of the antitrust law by them in the market of banking services of the Kyrgyz Republic.

1.3. This Policy determines actions which will be applied by National Bank in the field of anti-monopoly regulation, development of the competition and consumer protection in the market of the banking services of the Kyrgyz Republic rendered by the commercial banks, other financial credit institutions, operators of payment systems and payment institutes licensed and regulated by National Bank, and also National bank of development of the Kyrgyz Republic.

1.4. This Policy governs the relations between commercial banks, other financial credit institutions (further - FKO), operators of payment systems and payment institutes, influencing the competition in the market of banking services of the Kyrgyz Republic.

2. Main terms and determinations

2.1. The terms and determinations used in this Policy correspond to the terms and determinations used in the regulatory legal acts given in item 1.1. this Policy.

2.2. In addition in this Policy the following terms and determinations are used:

banking services - transactions and services FKO, the operators of payment systems and payment institutes presented to legal entities and physical persons according to the legislation of the Kyrgyz Republic;

the market of banking services - the field of activity of FKO, operators of payment systems and payment institutes in the territory of the Kyrgyz Republic or its part determined proceeding from the place of provision of banking service to consumers;

the competition in the market of banking services - free competitiveness between FKO, operators of payment systems and payment institutes in case of which their independent actions limit possibility of each of them unilaterally to influence general terms of implementation of activities in the market of banking services and services of other financial credit institutions, including by segments of services;

monopolistic activities in the market of banking services - abuse of FKO, operators of payment systems and payment institutes of group of persons of the dominant position, the agreements or coordinated actions contradicting the antitrust law, the actions (failure to act) of FKO, operators of payment systems and payment institutes (group of persons) directed to non-admission, restriction or elimination of the competition;

unfair competition in the market of banking services - actions of FKO, operators of payment systems and payment institutes which contradict the antitrust law and business customs establish unreasonable benefit by provision of banking services and caused or can cause losses to other FKO, operators of payment systems and payment institutes - to competitors in the market of banking services or to cause damage to their goodwill;

inadequate advertizing activities in the market of banking services - the activities of FKO, operators of payment systems and payment institutes violating general and/or special requirements of the legislation of the Kyrgyz Republic on advertizing;

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