· On November 20, 2013 at a meeting of the National Bank’s executive board of the Kyrgyz Republic issued a decree "On the decision of the Government of the Kyrgyz Republic and National Bank of the Kyrgyz Republic "On Amending Resolution of the Government of the Kyrgyz Republic and National Bank, of September 9, 2005 № 420/21/4 «On approval of Regulations on cash payments in the Kyrgyz Republic".  

About the revoke of a license from the credit union "Sestertsiy" 

Because credit union “Sestertsiy” failed to comply with the legislation of the Kyrgyz Republic, normative - legal acts and requirements of the National Bank, based on Article 32 of the Law "On the National Bank of the Kyrgyz Republic", articles 30 and 33 of the Law "On Credit Unions", subparagraph 1 and paragraph 4 of 10.2 Regulation "On licensing of credit unions", as well as on paragraph 3.8 of Regulation "On measures of impact applied to credit unions" and subparagraph ​​"t" of paragraph 2.1 of Regulation "On the Supervisory Committee of National Bank of the Kyrgyz Republic", which was approved by Executive Board of the National Bank №6/2 of March 19, 2005, on November 16, 2013 the Supervisory Committee of National Bank of the Kyrgyz Republic revoked license № 496 of July 12, 2005 from credit union "Sestertsiy". 

About the revoke of a license from the credit union “Kut Ordo” 

Because credit union “Kut Ordo” failed to comply with the legislation of the Kyrgyz Republic, normative - legal acts and requirements of the National Bank, based on Article 32 of the Law "On the National Bank of the Kyrgyz Republic", articles 30 and 33 of the Law "On Credit Unions", subparagraph 1 and paragraph 4 of 10.2 Regulation "On licensing of credit unions", as well as on paragraph 3.8 of Regulation "On measures of impact applied to credit unions" and subparagraph ​​"t" of paragraph 2.1 of Regulation "On the Supervisory Committee of National Bank of the Kyrgyz Republic", which was approved by Executive Board of the National Bank №6/2 of March 19, 2005, on November 16, 2013 the Supervisory Committee of National Bank of the Kyrgyz Republic revoked license №523 of May 3, 2005 from credit Union "Kut Urdo". 

National Bank of the Kyrgyz Republic clarified macro-financial assistance of the European Union (EU). 

30 million EUR, including 15 million EUR are offered to our country as a loan to support the budget. Attraction of foreign credits is a prerogative of the Government. According to the Law "On the State and non-government debt of the Kyrgyz Republic" the Ministry of Finance is the sole agent of the Government in management of public debt, the implementation of external borrowing and issuing of government guarantees. Other state-owned enterprises and institutions are not entitled to attract foreign loans and issuing government guarantees. 

In addition to representatives of the Government (as represented by the Ministry of Finance), National Bank of the Kyrgyz Republic was proposed to sign documents with the EU. National Bank does not preclude obtaining the loan, but in accordance with the legislation of the Kyrgyz Republic, has no authority to sign such documents. In this connection, it was suggested to exclude the participation of the National Bank in signing documents that were offered by the EU. 

Constitutional Chamber has recognized normative legal acts of the National Bank as constitutional one, which were contested by former leaders of JSC "AsiaUniversalBank" N. Abdrazakov and Ch. Kempirbaeva. 

After considering the petition of N. Abdrazakov and Ch. Kempirbaeva, the essence of which was recognition of some sub- regulations of the National Bank as unconstitutional, constitutional chamber of the Kyrgyz Republic refused to meet these requests. On the basis of these regulatory acts, N. Abdrazakov, who previously served as Chairman of the Board of JSC "AsiaUniversalBank" and Ch. Kempirbaeva, who previously held the position of Vice - President of JSC "AsiaUniversalBank", were recognized by the National Bank as ones who involved in the action that is classified as ailing and unsafe banking practice. 

The decision of the Constitutional Chamber noted that "As supervisor of commercial banks, National Bank of the Kyrgyz Republic has the right to require all banks to engage in a permitted activity while officials of banks should have an impeccable reputation, special knowledge in the field of banking activities, as they are entrusted money or property of the population ... Mandatory procedures for approval of bank officials enable National Bank to track the promotion to senior positions only of credible persons. In case, if these persons violate norms of legislation, involve bank in ailing and unsafe banking practices, this will result in the loose of credibility and National Bank has the right to replace them in the prescribed manner". "Considered subparagraphs 6.9.3. and 6.9.4. of Regulation "On measures of impact applied to banks and certain financial and credit institutions" are provided by 1st,2nd,7th parts of the Article 45-1 of Law "On Banks and Banking Activities in the Kyrgyz Republic". Accordingly, the ability to replace all or some of bank officials, prohibit further participation of these people in activities of the bank are provided by the law. Norms of the subparagraph 5 b) of the provisions 16.1. of Regulation "On licensing of banks’ activities”, regulating the matching of candidates to positions in commercial banks are provided in Article 25-1 of Law "On Banks and Banking Activities in the Kyrgyz Republic" - says the decision of the Constitutional Chamber. 

Taking into consideration aforesaid, the Constitutional Chamber considers that the request to recognize paragraphs 6.9.3. and 6.9.4. of Regulation "On measures of impact applied to banks and certain financial and credit institutions" and subparagraph 5 b) of paragraph 16.1. of Regulation "On licensing of banks’ activities” as an unconstitutional ones cannot be justified, because by detailing and revealing the rules of law they do not leave them outside the established legal boundaries. 

Governed by Articles 46, 47, 48, 51, 52 of Constitutional Law "On the Constitutional Chamber of the Supreme Court of the Kyrgyz Republic", the Constitutional Chamber has decided to recognize specified subparagraphs "On measures of impact applied to banks and certain financial and credit institutions, which is licensed by the National Bank of the Kyrgyz Republic" and Regulation "On licensing of banks’ activities” as corresponding to the Constitution of the Kyrgyz Republic. Petitions of N. Abdrazakov and Ch. Kempirbaeva were dismissed. 

The decision of Constitutional Chamber is final, enters into force upon proclamation and is not appealable. 

Certificates/licenses of the following NBFIs were annulled and revoked: 

The license of CU "Sestertsiy” № 496 of August 12, 2005 was revoked on November 21, 2013 by order of the SC № 40/7 of November 16, 2013, due to failure to comply with the legislation of the Kyrgyz Republic, normative - legal acts and requirements of NBKR. Legal address: 141 Arstanbap Str., "Kokzhar", Bishkek. 

The license of CU "Kut Ordo” № 523 of May 3, 2007 was revoked on November 11, 2013 by order of the SC № 40/7 of November 16, 2013, due to failure to comply with the legislation of the Kyrgyz Republic, normative - legal acts and requirements of NBKR. Legal address: 64 A.Sheripbaeva Str., village Kurpuldek, Chui region, Panfilov district.  

On November 11, 2013 was annulled a certificate of registration of LLC MCC "Joldosh Group" № 2 of April 22, 2003 for micro-crediting individuals and legal entities. Self-destruct - according to the decision of participants №34/13 of November 4, 2013. Legal address: 10 room, 3rd floor, 91/1 Elebaeva Str., Bishkek.  

Interbank payments