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Appendix

to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated December 21, 2016 No. 49/9

REGULATIONS  

on the requirements for the formation of financial statements and the provision of information by non-banking financial and credit organizations operating in accordance with Islamic principles of banking and financing or having an "Islamic window" 

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-12) 

Chapter 1. General Provisions 

1. The Regulations have been developed in accordance with the Laws of the Kyrgyz Republic "On Microfinance Organizations in the Kyrgyz Republic", "On Credit Unions" and other regulatory legal acts of the Kyrgyz Republic.

2. This Regulation determines the composition, rules for the preparation and presentation of financial statements by microfinance organizations (hereinafter referred to as MFOs) and credit unions operating in accordance with the Islamic principles of banking and financing (hereinafter referred to as non-banking financial and credit organizations), as well as MFOs that have Islamic window.

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-12) 

3. The provisions of this Regulation are applicable to non-banking financial and credit organizations (hereinafter referred to as NBFCOs), taking into account the specifics of their activities and legal form, determined by the legislative and regulatory legal acts of the Kyrgyz Republic. NBFCIs being in the mode of conservation, temporary administration also submit financial statements in accordance with this Regulation.

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-12) 

4. The financial statements of an NBFCO operating in accordance with the Islamic principles of banking and financing are a structured presentation of the financial position and the result of the activities carried out by it during the reporting period.

5. The financial statements of an NBFCO operating in accordance with the Islamic principles of banking and financing must objectively reflect its financial position and comply with the standards of the Accounting and Auditing Organization for Islamic Financial Institutions (hereinafter - AAOIFI), and in the absence of certain standards, the NBFCO uses IFRS standards, provided that they do not conflict with the Shariah standards approved by the AAOIFI.

6. The purpose of the financial statements of NBFCOs is:

- providing information on the financial position, financial performance and cash flow of NBFCOs, useful for a wide range of users in making economic decisions;

- presentation of the results of management of resources entrusted to the management of the NBFCO by presenting information on assets, liabilities, capital, income and expenses (including profits and losses) and cash flow.

7. Users of financial reports are investors, shareholders, founders, participants, creditors, borrowers, international financial organizations, tax authorities, the National Bank and other users.

Chapter 2. General requirements for the preparation of financial statements 

8. Financial statements consist of reporting forms, which must be drawn up in accordance with the forms attached to this Regulation:

- report on the financial position at the end of the last day of the reporting period (form No. 1 in accordance with Appendix 1 to these Regulations);

- Profit and loss statement (Form No. 2 in accordance with Appendix 2 to these Regulations);

- cash flow statement (form No. 3 in accordance with Appendix 3 to these Regulations);

- report on changes in the capital structure (form No. 4 in accordance with Appendix 4 to these Regulations);

- accounting policy and explanatory note (disclosures);

- a report on the sources of formation and use of the funds of the card fund (form No. 5 in accordance with Appendix 5 to this Regulation);

- the conclusion of the Sharia Council (form No. 6 in accordance with Appendix 6 to this Regulation).

The explanatory note (disclosures) to the financial report must be concise and understandable, and also have a cross-reference to the relevant items of the financial report, if necessary. The explanatory note (disclosure) attached to the financial statements is an integral part of it.

The conclusion of the Shariah Council must contain information confirming the conduct of operations for the reporting period in accordance with the principles of Shariah.

9. The following information should be clearly identified in the financial statements and, if necessary for a proper understanding of the information presented, should be repeated:

- name of the reporting NBFCO;

- the reporting date or period covered by the financial statements;

- reporting currency;

- the units of measurement and the level of precision used in presenting numbers in financial statements.

10. In preparing financial statements, the management of an NBFCO should assess the ability of the NBFCO to continue as a going concern. The financial statements should be prepared on a going concern basis unless management intends or needs to liquidate or substantially reduce the operations of the NBFCO. When management is aware, in the process of forming the opinion, of material uncertainties related to events or conditions that may cast significant doubt on the ability of the NBFCO to continue as a going concern, those uncertainties should be disclosed.

If the financial statements are not prepared on a going concern basis, this fact should be disclosed in the same way as the basis on which the accounts are prepared and the reason why the NBFCO is not considered to be a going concern.

11. An NBFCO shall prepare its financial statements, with the exception of the cash flow statement, on an accrual basis.

12. For the purposes of financial reporting, the reporting period for NBFCOs is the period from January 1 to December 31 of the calendar year inclusive.

For a newly created NBFCO before October 1, the first reporting period is the period from the date of its state registration to December 31 inclusive.

For an NBFCO established after October 1, the first reporting period is the period from the date of its state registration to December 31 of the following year inclusive.

13. In exceptional cases where an NBFCO's reporting period changes and financial statements are provided for a period longer or shorter than one year, the NBFCO shall disclose, in addition to the period covered by the financial statements:

- the reason for using a period other than a year;

- the fact that the comparative amounts for the statements of comprehensive income, changes in equity, cash flows and related notes are not comparable.

14. Each material item in the financial statements of NBFCOs is disclosed and presented separately in the financial statements. Irrelevant items are grouped with an amount of a similar nature or purpose.

15. The content and forms of financial statements are applied consistently from one reporting period to another (principle of consistency).

For each numerical indicator of the financial statements, indicators of the previous reporting year should be given.

16. The classification and presentation of items in the financial statements should be retained from period to period, unless:

- a significant change in the nature of the NBFCO's transactions or when an analysis of its presentation in the financial statements demonstrates that the change will result in a more reliable presentation of events or transactions;

- changes in the presentation are required by the regulatory legal acts of the National Bank.

17. If the data for the period preceding the reporting period are not comparable with the data for the reporting period, then the first of the named data are subject to adjustment based on changes in the rules established by the regulatory documents of the National Bank. Each adjustment must be disclosed in the notes to the financial statements and the reasons for the adjustment. If an adjustment is not appropriate, the NBFCO must disclose the reason for not making the adjustment, as well as the nature of the changes that would occur if the amounts were adjusted.

18. In financial reporting forms, items for which no transactions have been carried out by the date of reporting are indicated with the numerical value "zero". If the NBFCO is not engaged in the implementation of one or another transaction indicated in the financial reporting forms, it is not included in the financial statements.

19. The financial statements of NBFCOs must be prepared in the national currency of the Kyrgyz Republic, unless otherwise stipulated by duly ratified international treaties.

20. Financial statements must be signed by the head and chief accountant of the NBFCO, as well as certified by the seal of the NBFCO.

21. Changes in financial statements not recognized in prior periods that are established after the auditor's report is received prior to the approval of the annual report should be accounted for as current period adjustments.

22. Correction of errors in the financial statements is confirmed by the signature of the persons specified in clause 20 of this Regulation, indicating the date of correction.

23. When compiling financial statements for the purpose of their more reliable presentation, the management of the NBFCO and the person responsible for the preparation of financial statements have the right to add and / or reduce the items of the financial statements forms upon consultation with the external auditor, taking into account the requirements of this Regulation.

24. The management of the NBFCO is responsible for the preparation and presentation of financial statements.

Chapter 3. Procedure, terms for submission and publication of NBFCO financial statements 

25. After an independent external audit, the NBFCO must submit to the National Bank one copy of the financial statements in the following forms: a statement of financial position at the end of the last day of the reporting period (form No. 1), a profit and loss statement (form No. 2), a report on cash flow (form No. 3), report on changes in the capital structure (form No. 4), report on the sources of formation and use of funds of the card fund (form No. 5), opinion of the Sharia Council (form No. 6).

Financial statements are submitted to the National Bank, together with a copy of the external auditor's report, without changes, within 30 days from the date of submission of the report by the NBFCO's external auditor, but no later than 105 days from the end of the financial year.

26. MFOs, when conducting an external audit, must publish financial statements with disclosure, in the following forms: statement of financial position at the end of the day on December 31 (form No. 1), profit and loss statement (form No. 2), cash flow statement (form No. 3), report on changes in the structure of capital (form No. 4), report on the sources of formation and use of funds from the card fund (form No. 5 ), conclusion of the Sharia Council (form No. 6).

Publication of the forms of financial statements must be carried out together with the auditor's report after the completion of the audit and approval of the financial statements in the media in the state and / or official languages no later than April 30 of the year following the reporting year.

MFOs select the media to publish the financial statements along with the auditor's report in order to ensure that they are widely distributed and available to users. Information about the publication with a copy of the publication attached must be submitted to the National Bank within 3 working days after publication.

27. In the event of an external audit, a credit union licensed to take deposits must publish financial statements in the following forms: statement of financial position at the end of the day on December 31 (form No. 1), profit and loss statement (form No. 2) , statement of cash flows (form No. 3), statement of changes in the capital structure (form No. 4), report on the sources of formation and use of funds of the card fund (form No. 5) conclusion of the Sharia Council (form No. 6).

Publication of the forms of financial statements must be carried out together with the auditor's report after the completion of the audit and approval of the financial statements in the media in the state and / or official languages no later than April 30 of the year following the reporting year. Information about the publication with a copy of the publication attached must be submitted to the National Bank within 3 working days after publication.

28. In case of NBFCO's violation of the procedure for presenting financial statements, submission of false statements, as well as publication of reports without complying with the established requirements, the National Bank has the right to apply sanctions against them in accordance with applicable law.

Chapter 4 

29. On a quarterly basis, NBFCOs, within 30 days from the end of the quarter, must place on the information stand a report on the financial position at the end of the last day of the reporting quarter (form No. 1) and a profit and loss statement (form No. 2).

30. The National Bank has the right to request any information related to the activities of the NBFCOs during the year.

Chapter 5. Statement of financial position 

31. In the Statement of Financial Position, assets and liabilities are grouped by their nature in an order that reflects their relative liquidity (by decreasing liquidity or maturity).

32. The statement of financial position should include the assets of the NBFCO, its liabilities, funds in investment accounts and equity.

33. An asset item shall not be offset against a liability item in the statement of financial position, and vice versa, except as required or permitted by AAOIFI standards.

34. Relationships with the National Bank, other NBFCOs, other money market partners and lenders, borrowers should be separately reflected in the statement of financial position in order to give a correct idea of their interdependence.

35. The title of the Statement of Financial Position form must be stated as Statement of Financial Position as of "___" ___________________ 20__ (inclusively)". In this case, the date at the end of the month, quarter, year is indicated.

36. The statement of financial position should present subtotals for assets, liabilities, investment accounts and equity.

37. The results of investment accounts and their equivalents should be presented in the statement of financial position as a separate item between liabilities and equity of the NBFCO.

Chapter 6. Profit and Loss Statement 

38. In the Profit and Loss Statement, income and expenses arising from the activities of the NBFCOs should be grouped by their nature and should reflect the main types of income and expenses.

39. Items of income and expenses are not subject to offset, unless:

1) AAOIFI standards allow it;

2) or profits, losses and related expenses arising from the same or similar events are not material. Such amounts must be combined and presented in the income statement.

40. An NBFCO shall present in its income statement or explanatory note(s) to its financial statements an analysis of income and expenses using a classification based on the nature of the Company's income and expenses.

41. An NBFCO shall disclose in its income statement or explanatory note(s) to its financial statements the amount of dividends per share declared or proposed for the period covered by the financial statements.

42. The name of the form "Profit and Loss Statement" must be stated "Profit and Loss Statement on "___" __________________ 20__ (inclusively)". In this case, the date at the end of the month, quarter, year is indicated.

43. The profit and loss statement should provide information with separate disclosures of income on capital, costs, profits and losses received by the NBFCO and investment account holders:

1) income received from sales and profit from investments (financing);

2) costs and losses from investments (financing);

3) net profit (losses) from investments (financing);

4) the share of investment account holders in profits (losses) from investments (financing) in the profits of NBFCOs, as a mudariba;

5) share of NBFCOs in profit (loss) from investments (financing);

6) the share of NBFCOs in income from unlimited investments as a mudariba;

7) the share of NBFCOs in the profit from limited investments as a mudariba;

8) the established amount of payment for the NBFCO as an investment agent, if any;

9) income (expenses) received as a result of transactions that do not comply with Sharia standards, if any;

10) other income received from the sale, costs, profits and losses;

11) general and administrative costs;

12) net profit (losses) before taxes;

13) taxes (should be presented separately);

14) net profit (losses).

Chapter 7. Statement of cash flows 

44. In the cash flow statement, an NBFCO should present data on cash flows and cash equivalents for the reporting period, classifying them by operating , investing or financing activities.

45. The statement of cash flows should present the net increase (decrease) in cash and cash equivalents at the beginning and end of the period.

46. The statement of cash flows should present transactions and other transfers of amounts that do not require payment or give rise to cash or cash equivalents (for example, dividends intended for distribution to shareholders or the acquisition of assets in exchange for a share in NBFCO shares).

47. The cash flow statement must be accompanied by the NBFCO's policy on cash and cash equivalent components used as the basis for preparing the cash flow statement.

Chapter 8. Statement of changes in the capital structure 

48. An NBFCO is required to submit a statement of changes in the capital structure that reflects:

1) paid-in capital, reserves created in accordance with the requirements of the regulatory legal acts of the Kyrgyz Republic and reserves created at the discretion of the NBFCO separately and retained earnings as of the beginning of the reporting period with a separate presentation of the amount of profit resulting from the revaluation of assets and liabilities in monetary terms, where possible;

2) capital transactions and distributions made by NBFCOs during the reporting period;

3) net profit (loss) for the reporting period;

4) increase (decrease) in reserves created by NBFCOs during the reporting period in accordance with the requirements of the legislation of the Kyrgyz Republic.

49. Information on retained earnings of an NBFCO should include the following:

1) retained earnings at the beginning of the period with a separate disclosure of the amount resulting from the revaluation of assets and liabilities in monetary terms, where applicable;

2) net profit (loss) for the reporting period;

3) deductions to reserves created by NBFCOs for the reporting period in accordance with the requirements of the legislation of the Kyrgyz Republic;

4) amounts due to shareholders/participants during the reporting period;

5) retained earnings at the end of the reporting period with a separate disclosure of the amount resulting from the revaluation of assets and liabilities in monetary terms, where possible.

Chapter 9. Accounting policy and explanatory note (disclosures) 

50. The accounting policy in the explanatory note (disclosures) to the financial statements of NBFCOs should provide for the following:

1) defining an accounting policy that includes the accounting principles, bases, rules and methods that have been adopted by the NBFCOs for the preparation and publication of financial statements;

2) a clear and concise description of significant accounting policies used in the preparation and publication of financial statements;

3) methods of presenting the main principles of accounting in the notes to the financial statements;

4) the adoption of a new accounting policy due to the apparent difference in the state of certain transactions and events compared to simple transactions and events in the past;

5) the adoption of a new accounting policy due to transactions or events that occur for the first time or have occurred in the past but were immaterial;

6) changes in the classification of items in the financial statements of the current period compared to the classification of items in the financial statements of the previous period;

7) presentation of the methods used by the NBFCO for the distribution of profit (loss) from investments (financing) between the owners of investment accounts and the NBFCO as a mudariba or as an investment manager, participating or not participating in investments with their own funds.

51. Accounting policies should present changes, including changes that do not affect financial performance in the current or prior periods, or where such an effect is likely to occur in future periods.

52. When changes are made to an accounting policy, the new policy is applied retrospectively, i.e. An NBFCO should apply the new accounting policy to historical comparative information by generating financial statements for recent periods, to the extent practicable.

53. The explanatory note (disclosures) to the financial statements of NBFCOs must disclose information that is not presented in the published financial statements:

1) the name of the NBFCO;

2) country of registration of the NBFCO;

3) date of formation and organizational and legal form of NBFCOs;

4) the location of the head office of the NBFCO and its subsidiaries in each country where the organization operates;

5) the nature of the activities of the NBFCO and the main banking services provided for by the charter;

6) names of subsidiaries of the NBFCO, whose financial statements are not consolidated with the NBFCO's reports, their countries of registration, the NBFCO's stake in each subsidiary, the nature of their activities and the reasons for excluding their financial statements from the consolidated financial statements of the NBFCO;

7) the name of the management company of the NBFCO, as well as the name of its branches, if any;

8) the role of the Sharia Council in the activities of the NBFCO and its powers;

9) taxation rules in the country of registration and in other countries where the NBFCO has branches. If the NBFCO enjoys tax benefits in the country of incorporation and in other countries, it is necessary to indicate the period of tax benefits and the remaining period of tax benefits.

54. The explanatory note (disclosures) to the financial statements should be presented in a systematic way. Each line item in the income statement, balance sheet, and cash flow statement must be cross-referenced to any related information.

55. An error in the prior period's financial statements, if any, should be corrected by reproducing the financial statements for all previous periods that were affected by the error.

Retained earnings at the beginning of the first period must be adjusted to reflect the cumulative effect of correcting the error on periods not presented but affected by the error.

56. Disclosure of additional information can be carried out with the help of charts, analytical tables, graphs and extracts of data for the previous and reporting periods.

57. The notes to the financial statements of NBFCOs should include the following information:

1) on officials of NBFCOs, determined by the laws of the Kyrgyz Republic "On microfinance organizations in the Kyrgyz Republic", "On credit unions";

2) relatives of NBFCO officials;

3) any individuals or legal entities that directly or indirectly own or manage the NBFCOs;

4) on subsidiaries and/or affiliates and other branches of NBFCOs;

5) on the sources of formation and use of the funds of the Zakat Fund and the Qard Fund, if any, created in accordance with the AAOIFI standards during the reporting period. Zakat calculation method must be done in accordance with AAOIFI standards.

Chapter 10. Reporting of MFOs with an "Islamic Window" 

58. MFOs with an Islamic window must prepare and submit additional (separate) financial statements for activities carried out in accordance with Islamic principles of banking and finance, as an appendix to the company's consolidated financial statements.

59. The accounting policy of an MFO with an Islamic window, approved by its Board of Directors and the Shariah Board, should include the Procedure for Formation of the Financial Statements of the Islamic Window of an MFO.

60. Supplementary (separate) financial statements of MFOs with an "Islamic window", presented for activities carried out in accordance with Islamic principles of banking and finance, consist of the following financial statements:

- report on financial condition (form No. 1 in accordance with Appendix 1 to these Regulations);

- Profit and loss statement (Form No. 2 in accordance with Appendix 2 to these Regulations);

- accounting policy and explanatory note (disclosures) to the financial statements;

- a report on the sources of formation and use of the funds of the card fund (form No. 5 in accordance with Appendix 5 to this Regulation);

- the conclusion of the Sharia Council (form No. 6 in accordance with Appendix 6 to this Regulation).

The explanatory note (disclosures) to the financial report must be concise and understandable, and also have a cross-reference to the relevant items of the financial report, if necessary. The explanatory note (disclosure) attached to the financial statements is its integral part.

The conclusion of the Sharia Council must contain information confirming the conduct of operations for the reporting period, in accordance with the principles of Sharia.

 

 

 

Appendix 1

to the Regulation "On the requirements for the formation of financial statements and the provision of information by NBFCOs operating on Islamic principles of banking and financing or having an "Islamic window"

 

Form No. 1

STATEMENT OF  

FINANCIAL POSITION as of ______________ 20__ 

________________________________________________________________________________

(name of the non-bank financial and credit organization and its location)

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-12) 

thousand soms

 

Article title 

Total 

foreign currency 

A. Assets 

1

Cash

 

 

 

including in foreign currency

 

 

2

Account at the National Bank

 

 

3

Settlement accounts in other banks and financial institutions

 

 

4

Accounts with other banks and financial institutions:

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

 

c) under the Qard Hassan agreement

 

 

5

Securities

 

 

6

Financing provided to banks and financial and credit organizations:

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

 

c) under the contract of Sharka/Musharaka

 

 

 

d) under the Murabaha agreement

 

 

 

e) under the Ijara/Ijara Muntahiya Bittamlik agreement

 

 

 

e) under the agreement salam

 

 

 

g) under the Qard al-hassan agreement

 

 

7

Financing provided to other clients

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

 

c) under the contract of Sharka/Musharaka

 

 

 

d) under the Murabaha agreement

 

 

 

e) under the Ijara/Ijara Muntahiya Bittamlik agreement

 

 

 

e) under the agreement salam

 

 

 

g) under the Qard al-hassan agreement

 

 

8

MINUS: Special RPPU

 

 

9

Net financing (line 6 + line 7-8)

 

 

10

Assets/inventory for onward transfer to clients:

 

 

 

a) real estate

 

 

 

b) movable property

 

 

11

Fixed assets, including:

 

 

 

a) land and buildings

 

 

 

b) other fixed assets

 

 

12

Other property

 

 

 

a) the client's real estate accepted as repayment of the received financing

 

 

 

b) other property of the client accepted for redemption

 

 

13

Investments in non-consolidated companies

 

 

 

a) banks and financial and credit organizations

 

 

 

b) other financial institutions

 

 

 

c) non-financial organizations

 

 

14

Other assets

 

 

15

TOTAL: ASSETS

 

 

B. Commitments 

16

Urgent accounts of legal entities

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

17

Term accounts of individuals

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

18

Funding received:

 

 

 

a) from banks of the Kyrgyz Republic

 

 

 

b) from other PKU KR

 

 

 

c) from international financial organizations and donors

 

 

 

d) from international PKU

 

 

 

e) from public authorities

 

 

19

Funds borrowed by MFC from legal entities and founders (shareholders)

 

 

 

a) funding provided by the MFC from the founders

 

 

 

b) funding provided by the MFC from the founders

 

 

20

Conditional Grants

 

 

21

including in foreign currency

 

 

22

Other liabilities

 

 

23

TOTAL: LIABILITIES

 

 

V. Capital 

24

Share capital:

 

 

 

a) ordinary shares (fully paid share capital)

 

 

 

b) preferred shares

 

 

 

c) capital invested in excess of face value

 

 

 

d) additional capital contributed by individuals and legal entities

 

 

 

e) retained earnings (losses):

 

 

 

e1) profit (loss) of previous periods

 

 

 

e2) profit (loss) of the current year

 

 

 

f) reserves for future needs

 

 

25

General reserves, including:

 

 

 

a) reserve for the revaluation of fixed assets

 

 

 

b) reserve for revaluation of securities

 

 

 

c) total LLP for financing

 

 

 

d) total LLP for other assets

 

 

 

e) other general reserves

 

 

26

Profit equalization reserve (RVP)

 

 

27

Investment risk reserve

 

 

28

Capital investments of non-consolidated companies

 

 

29

TOTAL: CAPITAL

 

 

30

TOTAL EQUITY and LIABILITIES

 

 

 

Chairman of the Board (Head)

_________________________________

 

(full name, signature)

 

 

Chief Accountant

_________________________________

 

(full name, signature)

 

 

 

Appendix 2

to the Regulation "On the requirements for the formation of financial statements and the provision of information by NBFCOs operating on Islamic principles of banking and financing or having an "Islamic window"

 

Form No. 2

STATEMENT  

for ________________________ 20__ 

__________________________________________________________________________________

(name of the non-banking financial and credit organization and its location)

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-12) 

thousand soms

No. 

Article title 

Reporting period 20XX 

Previous period 20YY 

A. Income received from operations 

1

Income from funds placed on accounts with commercial banks

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

 

c) under the Qard Hassan agreement

 

 

2

Income from securities

 

 

3

Income received from financing provided to financial and credit organizations, including:

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

 

c) under the contract of Sharka/Musharaka

 

 

 

d) under the Murabaha agreement

 

 

 

e) under the Ijara/Ijara Muntahiya Bittamlik agreement

 

 

 

e) under the agreement salam

 

 

4

Income received from financing provided to other clients, including:

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

 

c) under the contract of Sharka/Musharaka

 

 

 

d) under the Murabaha agreement

 

 

 

e) under the Ijara/Ijara Muntahiya Bittamlik agreement

 

 

 

e) under the agreement salam

 

 

5

Other income received from financing operations

 

 

6

Total

 

 

B. Costs incurred on operations 

7

Expenses on term accounts of legal entities

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

8

Expenses on term accounts of individuals

 

 

 

a) limited Mudaraba by agreement

 

 

 

b) unlimited mudaraba under the agreement

 

 

9

Costs of financing received from banks

 

 

10

Costs of financing received from other financial institutions

 

 

11

Costs of financing received from international financial institutions (other sources of financing)

 

 

12

other expenses

 

 

13

Total

 

 

14

Net income from operations

 

 

15

RPPU

 

 

16

Net income after LLP deductions

 

 

B. Other operating income 

17

Commissions and service fees

 

 

18

Foreign exchange gain/loss

 

 

19

Income received from agent banking

 

 

20

Income / dividends from investments in capital and shares, incl. to subsidiaries and associates

 

 

21

Other income

 

 

22

Total

 

 

D. Other operating expenses 

23

Expenses for payment of professional services and banking services

 

 

24

Other expenses

 

 

25

Total

 

 

E. Operational, administrative and zakat and charitable expenses 

26

Salaries and other personnel expenses

 

 

 

a) salary and benefits

 

 

 

b) other payments and subsidies

 

 

 

c) payments to the Social Fund

 

 

27

Fees to members of the Board of Directors

 

 

28

Other expenses on property, plant and equipment, including property tax

 

 

 

a) rent

 

 

 

b) utilities

 

 

 

c) depreciation expenses

 

 

 

d) other expenses

 

 

 

e) property tax

 

 

29

taxes

 

 

30

Takaful

 

 

31

Other operating and administrative expenses

 

 

32

Total: operating expenses

 

 

33

Total: operating income (loss)

 

 

34

Provisions to cover other possible losses and losses (not from financing operations)

 

 

35

Net operating income (loss)

 

 

36

Zakat and charity expenses

 

 

37

income tax

 

 

38

Net income (loss)

 

 

 

Chairman of the Board (Head)

_________________________________

 

(full name, signature)

 

 

Chief Accountant

_________________________________

 

(full name, signature)

 

 

 

Appendix 3

to the Regulation "On the requirements for the formation of financial statements and the provision of information by NBFCOs operating on Islamic principles of banking and financing or having an "Islamic window"

 

Form No. 3

STATEMENT OF CASH  

FLOW as of ____________________ 20__ 

__________________________________________________________________________________

(name of the non-banking financial and credit organization and its location)

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-12) 

thousand soms

No. 

Article title 

Reporting period 20XX 

Previous period 20YY 

 

Cash flow from operating activities: 

 

 

1

Margin received from IPF transactions

 

 

2

The share of profit paid on the funds raised on the IPF

 

 

3

Service income and commissions received

 

 

4

Net payments from foreign exchange transactions

 

 

5

Net profit from operations with foreign currency

 

 

6

Net realized income from financial instruments at fair value through profit or loss

 

 

7

Service charges and commissions paid

 

 

8

Other income

 

 

9

Employee salaries and bonuses

 

 

10

Administrative expenses

 

 

 

Changes in operating assets and liabilities 

 

 

11

Funds provided to clients under IPF

 

 

12

Receivables

 

 

13

Other assets

 

 

14

Funds attracted by IPF

 

 

15

Other liabilities

 

 

16

Net cash inflow from operating activities before tax

 

 

17

income tax paid

 

 

18

Net cash inflow from operating activities

 

 

 

Cash flow from investing activities:

 

 

19

Acquisition of fixed assets and intangible assets

 

 

20

Sale of fixed assets and intangible assets

 

 

21

Net cash inflow from investing activities

 

 

 

Cash flow from financing activities: 

 

 

22

Dividends paid

 

 

23

Receipt of attracted funds through IPF

 

 

24

Repayment of borrowed funds under IPF

 

 

25

Net cash inflow/outflow from financing activities

 

 

26

Effect of exchange rate changes on cash and cash equivalents

 

 

27

Net increase (decrease) in cash and cash equivalents

 

 

28

Cash and cash equivalents at the beginning of the year

 

 

29

Cash and cash equivalents at the end of the year

 

 

 

Chairman of the Board (Head)

_________________________________

 

(full name, signature)

 

 

Chief Accountant

_________________________________

 

(full name, signature)

 

 

 

Appendix 4

to the Regulation "On the requirements for the formation of financial statements and the provision of information by NBFCOs operating on Islamic principles of banking and financing or having an "Islamic window"

 

Form No. 4

STATEMENT OF  

CHANGES IN CAPITAL STRUCTURE as of ___________________ 20__ 

___________________________________________________________________________________

(name of the non-banking financial and credit organization and its location)

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-12) 

thousand soms

No. 

Article title 

Reporting period 20XX 

Previous period 20YY 

 

Authorized capital 

 

 

1

Balance at the beginning of the reporting period

 

 

2

Increase in the reporting period

 

 

3

Decrease in the reporting period

 

 

4

Balance at the end of the reporting period

 

 

5

Capital contributed in excess of par

 

 

6

Balance at the beginning of the reporting period

 

 

7

Capital surplus from issuance of shares

 

 

8

Other changes

 

 

9

Balance at the end of the reporting period

 

 

 

Undestributed profits 

 

 

10

Balance at the beginning of the reporting period

 

 

11

Profit (loss) of the last reporting period

 

 

12

Dividends declared based on the results of the last reporting year in the form of cash

 

 

13

Other changes

 

 

14

Balance at the end of the reporting period

 

 

15

Reserve for future needs

 

 

16

Balance at the beginning of the reporting period

 

 

17

Other reserve movements for future needs

 

 

18

Balance at the end of the reporting period

 

 

 

Asset revaluation reserves 

 

 

19

Balance at the beginning of the reporting period

 

 

20

Results of revaluation of fixed assets in the reporting period

 

 

21

Other movements in the property, plant and equipment revaluation reserve

 

 

22

Results of revaluation of securities in the reporting period

 

 

23

Balance at the end of the reporting period

 

 

24

Total: capital

 

 

 

Chairman of the Board (Head)

_________________________________

 

(full name, signature)

 

 

Chief Accountant

_________________________________

 

(full name, signature)

 

 

 

Appendix 5

to the Regulation "On the requirements for the formation of financial statements and the provision of information by NBFCOs operating on Islamic principles of banking and financing or having an "Islamic window"

 

Form No. 5

STATEMENT  

on the sources of formation and use of funds from the card fund __________________ 20__ 

__________________________________________________________________________________

(name of the non-banking financial and credit organization and its location)

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-12) 

 

Name 

Reporting period 20XX 

Previous period 20YY 

 

opening balance 

 

 

1

qard al-hassan

 

 

2

Funds available for giving qard al-hassan

 

 

 

Sources of card fund funds 

 

 

3

Distribution of funds from current accounts

 

 

4

Distribution of income that does not comply with Shariah standards

 

 

5

Funds received outside the activities of NBFCOs

 

 

6

Total amount generated from sources of funds during the year

 

 

 

Using the funds of the card fund 

 

 

7

Qard al-hassan for educational purposes

 

 

8

Qard al-hassan for Small Businesses

 

 

9

Settlements on current accounts

 

 

10

Total amount of funds used during the year

 

 

Balance at the end of the year 

 

 

11

qard al-hassan

 

 

12

Funds available for giving qard al-hassan

 

 

 

Chairman of the Board (Head)

_________________________________

 

(full name, signature)

 

 

Chief Accountant

_________________________________

 

(full name, signature)

  

 

 

Appendix 6

to the Regulation "On the requirements for the formation of financial statements and the provision of information by NBFCOs operating on Islamic principles of banking and financing or having an "Islamic window"

 

Form No. 6

Conclusion of the Sharia Council 

(sample)

We, (last name, first name, patronymic), ... (last name, first name, patronymic), ..., being members of the Sharia Board / providing services according to the company agreement, on behalf of the members of the Sharia Board really confirm that the operations of the company carrying out operations on Islamic principles of financing, in ____ were carried out in accordance with the principles of Shariah.

 

On behalf of the Sharia Council:

 

(Name, signature) _______________________________________________

(Name, signature) _______________________________________________

 

Bishkek

 

(the date)