of November 6, 1999 No. 121
About electronic payments
Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on October 15, 1999
Analog of the sign manual (digital signature) code which is created based on the certified program technical means by unilateral transformation of content of the document to the numerical sequence coded by means of confidential personal key. The digital signature is reproduced only one person, and its authenticity makes sure many. The digital signature is inseparably linked with the specific sender and only with him.
The owner of analog of the sign manual - the physical person or legal entity confirming with the digital signature the rights according to the order the money which is on the account.
Ensuring integrity of the document - impossibility unauthorized the author or random change of the document.
The authentication of the document - the procedure of integrity checking of the document including check of compliance or discrepancy of the owner of the document to the shown or declared name.
The participant of electronic payments - the physical person or legal entity using or providing services in electronic payments.
Electronic payment - the payment registered by means of the electronic payment document according to this Law and the established procedures.
The electronic payment document is the type of the payment document constituted electronically, containing necessary information for implementation of calculations and certified by the digital signature.
The financial and other institutions providing services in carrying out electronic payments - the commercial banks and other specialized financial institutions performing activities for provision of the financial services connected with implementation of electronic payments based on the license granted by authorized state body.
1. This Law establishes legal position of electronic payments and is designed to settle the relations arising in the course of carrying out electronic payments in the Kyrgyz Republic.
2. The procedure for carrying out the international electronic payments and the requirement to the electronic payment documents used for carrying out such payments (formats, procedures of creation of digital signatures, procedures of establishment of authenticity and safety) are established based on the relevant agreements.
3. This Law is not applied and does not govern the relations arising when carrying out postal and wire transfers.
1. The National Bank of the Kyrgyz Republic performs the functions connected with relations management on implementation of electronic payments for the purpose of ensuring efficiency, safety and reliability of payment system of the republic.
For implementation of the functions the National Bank of the Kyrgyz Republic establishes:
- formats of electronic payment documents, determines requirements to program technical means of enciphering and the digital signature, and also the procedure of carrying out interbank calculations;
- the minimum requirements imposed to safety of carrying out electronic payments, applicability of these or those measures of protection, procedures of creation of the digital signature and the authentication of electronic payment documents. Participants of electronic payments can determine in agreements additional requirements, in addition to those which are established as obligatory (minimum).
2. The National Bank of the Kyrgyz Republic performs licensing and regulation of activities of the financial and other institutions providing the services connected with implementation of electronic payments in the territory of the republic.
The financial and other institutions providing the services connected with implementation of electronic payments:
- register owners of the digital signature with whom perform exchange of electronic payment documents, and also the tools for the digital signature and means of the authentication of electronic payment documents used by them;
- store the standards of means intended for creation of the digital signature and the authentication of electronic payment documents and also documentation standards on these means, according to the terms and requirements established by the legislation of the Kyrgyz Republic;
- act as the expert and draw the conclusion on requests of the legal entities and physical persons making cashless payments by means of electronic payment documents concerning the authentication of electronic payment documents.
1. Relations between participants of electronic payment system are regulated by the legislation of the Kyrgyz Republic, regulations of National Bank of the Kyrgyz Republic, and also bilateral, multilateral agreements or agreements.
2. The National Bank of the Kyrgyz Republic publishes regulations concerning the organization and implementation of electronic payments which execution is obligatory for participants of electronic payment system of the republic.
1. Clearing settlements between the parties can be carried out in the form of electronic payments.
2. Electronic payments are made based on the agreement or the agreement by means of transfer from the sender to the receiver of electronic payment documents on communication channels. As communication channels telephone channels, cable or telex channels, radio channels and satellite links, and also own wire and cable channels of communication of organizations can be used. The physical person or legal entity, being the participant of electronic payment system according to this Law can be the sender and/or the receiver.
3. The electronic payment document which is carried out according to the established requirements for format and procedures of the authentication, fastened with the digital signature has the legal position equal with legal position of originals of the paper payment documents certified according to qualifying standards and shall be accepted as proofs by consideration of judicial and other disputes.
1. Electronic payments are made based on the agreement or the agreement signed between participants of calculations.
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The document ceased to be valid since March 4, 2015 according to article 33 of the Law of the Kyrgyz Republic of January 21, 2015 No. 21