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Appendix 2 to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated October 17, 2014 No. 45/1 |
REGULATIONS
on the Periodic Regulatory Report of Microcredit Companies and Microcredit Agencies Carrying out Operations in Accordance with Islamic Principles of Banking and Financing
(As amended by the Resolutions of the Board of the National Bank of the Kyrgyz Republic dated January 20, 2016 No. 4/6, June 15, 2016 No. 25/2, June 15, 2017 No. 2017-P-12/25-12, December 13, 2017 No. 2017-P-12/51-13, January 31, 2018 No. 2018-P-12/4-6, May 30, 2018 No. 2018-P-12/20-2, August 15, 2018 No. 2018-P-33/33-8)
1. General Provisions
1. This provision, in accordance with the Laws of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic, banks and banking activities", "On microfinance organizations in the Kyrgyz Republic" and the Regulations "On registration of accounts and deposits of residents of the Kyrgyz Republic opened in foreign banks", approved Decree of the Board of the National Bank of the Kyrgyz Republic dated July 5, 2000 No. 26/2 (hereinafter referred to as legislation), defines a unified form of periodic regulatory reporting (hereinafter referred to as PRR) of microcredit companies and microcredit agencies (hereinafter - MCC and MCA)carrying out operations in accordance with Islamic principles of banking and financing.
(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)
2. PRR is compiled on the basis of accounting data and off-system accounting.
3. (No longer valid in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2017 No. 2017-P-12/25-12)
2. Goals and task
4. PRR is compiled in order to analyze:
a) the financial condition of MCCs and MCAs within the framework of the functions performed by the National Bank of the Kyrgyz Republic (hereinafter referred to as the National Bank), enshrined in legislation;
b) activities of MCCs and MCAs to make managerial decisions by the company's leaders, including decisions to ensure liquidity, solvency and profitability.
5. The main task of the PRR is to provide reliable and complete information on the economic and economic activities of the MCC and MCA to ensure the fulfillment of the goals specified in paragraph 4 of this provision.
3. Content and frequency of submission of PRR
6. PRR is a report on the activities of the MCC and the MCA in the prescribed form for a certain period and submitted on time.
7. PRR consists of 7 sections. The composition of the PRR, a summary and the timing of its submission are given in Appendix 1 to this regulation.
(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2016 No. 25/2)
8. PRR MCC and MCA for the 4th quarter of the current year is annual. The annual PRR is submitted to the National Bank before February 1 of the year following the reporting one.
4. Procedure for submitting PRR
9. Each MCC and MCA should appoint an officer responsible for the completeness of the content, the timing of submission and the correctness of filling out the PRR . This officer is also responsible for interaction with the National Bank on all issues related to the information contained in the PRR.
10. PRR is submitted to the National Bank in the form in accordance with Appendix 2 to this Regulation within the time limits established for the report, on paper and electronic media. Electronic versions of PRR must be generated according to the templates established by the National Bank.
11. MCCs and MCAs located in Chui oblast and Bishkek must submit the PRR on paper to the National Bank in a sealed envelope.
12. Electronic versions of PRR should be sent by e-mail to the Department for Technical Support of the Statistical Base of the Financial Statistics and Review Department of the National Bank (hereinafter referred to as the FSO). In the absence of e-mail, the MCC and MCA must submit reports on other electronic media (USB - flash drive).
13. MCC and MCA, located in other regions of the republic, must represent missile defense to the relevant regional department/Batken representative office of the National Bank on paper and electronic media.
Regional departments and the Batken representative office of the National Bank send PRR to the FSO in an aggregated form.
14. In case of any inconsistencies, errors, incomplete provision or incorrect completion of the PRR forms, the relevant structural unit of the National Bank notifies the MCC and the MCA of the need to adjust the report with reflection in the financial statements within 10 working days from the date of receipt of the report.
Corrected reports, together with a cover letter from MCC and MCA, must be submitted to the National Bank within 5 working days after receiving notification of inconsistencies in the report.
15. If the National Bank does not have any comments on the PRR or after the report is brought into line with the National Bank's comments and the National Bank has been notified in writing about the correction of the PRR , the PRR is considered accepted by the National Bank.
16. MCC and MCA provide missile defense for the parent MCC and MCA and its branches on a consolidated basis.
17. The PRR must be submitted in the prescribed form: laced, numbered indicating the number of pages of the PRR sections, sealed and signed by the MCC and MCA staff responsible for compiling and submitting the PRR .
18. PRR must contain reliable information about the status of the MCC and MCA as of the reporting date. The correctness of the reflection of the state of the MCC and MCA in the quarterly and annual PRR is certified by the head of the executive body and the chief accountant of the MCC and MCA.
5. Final provisions
19. For untimely and/or inaccurate submission of information, for failure to provide information, for incomplete and/or incorrect completion of the PRR, MCC and MCA are liable in accordance with the regulatory legal acts of the Kyrgyz Republic.
20. The MCC and the MCA shall keep the second copies of the PRR submitted to the National Bank.
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Appendix 1 to the Regulation "On the Periodic Regulatory Report of Microcredit Companies and Microcredit Agencies Carrying out Operations in Accordance with the Islamic Principles of Banking and Finance", approved by the Resolution of the Board of the National Bank dated October 17, 2014 No. 45/1 |
COMPOSITION OF
PRR MCCs and MCAs carrying out operations in accordance with Islamic principles of banking and financing
(As amended by the Resolutions of the Board of the National Bank of the Kyrgyz Republic dated January 20, 2016 No. 4/6, June 15, 2016 No. 25/2)
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No. |
Chapter |
Name |
Periodicity |
Submission deadlines |
Note or reference to a normative legal act |
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1 |
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Title page |
Annual |
Until February 1 of the year following the reporting year . |
attached to sections |
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Quarterly |
By the 20th day of the month following the reporting quarter |
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2 |
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Information about the members of the Board of Directors, the Board, the Shariah Council and the main founders (shareholders) of the MCC/MCA |
Annual |
Until February 1 of the year following the reporting year . |
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Changes during the year |
Within 10 calendar days after the adoption of the changes |
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3 |
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Information about individual officials |
Annual |
Until February 1 of the year following the reporting year . |
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Changes during the year |
Within 10 calendar days after the adoption of the changes |
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4 |
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Basic Information |
Annual |
Until February 1 of the year following the reporting year . |
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Changes during the year |
Within 10 calendar days after the adoption of the changes |
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5 |
Section 1 |
Regulatory statement of financial position A. Assets B. Liabilities and Equity |
Quarterly |
By the 20th day of the month following the reporting quarter. |
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B. Off-balance sheet liabilities |
Annual |
Until February 1 of the year following the reporting year |
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6 |
Section 2 |
Statement of comprehensive income |
Quarterly |
By the 20th day of the month following the reporting quarter. |
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Annual |
Until February 1 of the year following the reporting year |
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7 |
Section 3 |
Information about assets A. Classification of assets by degree of risk B. Methods of financing B. Breakdown by industry and region |
Quarterly |
By the 20th day of the month following the reporting quarter. |
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D. Information on provided funding D. Information on problem clients E. Information on Parallel Financing G. Information on the volume of issued financing by industry and region H. Restructured assets I. Analysis of the sensitivity of assets and liabilities to changes in rates of return (GAP_analysis) K. Maturities of assets/liabilities |
Annual |
Until February 1 of the year following the reporting year |
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8 |
Section 4 |
Self-assessment report |
Annual |
Until February 1 of the year following the reporting year |
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9 |
Section 5 |
Report on foreign assets and liabilities |
Quarterly |
By the 20th day of the month following the reporting quarter |
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10 |
Section 6 |
Disclosures A. Commitments B. Information on the terms of financing C. About MCC and MCA clients |
Quarterly |
By the 20th day of the month following the reporting quarter. |
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D. About the staff of the MCC and the MCA D. Information on the provision of retail banking services under the agency agreement of banks E. Breakdown of Placement Operations and Investments G. Funds borrowed from founders/shareholders/participants Z. (Voided in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 15, 2016 No. 25/2) |
Annual |
Until February 1 of the year following the reporting year |
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11 |
Section 7 |
Information on compliance with economic standards of the MCC |
Annually |
before February 1 following the reporting year |
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Quarterly |
within 20 calendar days following the reporting period |
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Appendix 2 to the Regulation "On the Periodic Regulatory Report of Microcredit Companies and Microcredit Agencies Carrying out Operations in Accordance with the Islamic Principles of Banking and Finance", approved by the Resolution of the Board of the National Bank dated October 17, 2014 No. 45/1 |
(As amended by the Resolutions of the Board of the National Bank of the Kyrgyz Republic dated January 20, 2016 No. 4/6, June 15, 2016 No. 25/2, December 13, 2017 No. 2017-P-12/51-13, January 31, 2018 No. 2018-P- 12/4-6, May 30, 2018 No. 2018-P-12/20-2, August 15, 2018 No. 2018-P-33/33-8)
See attached file.
