On the withdrawal of the license on registration of the LLC MCC "Naktab" 

The license on the registration of the LLC MCC "Naktab" provided by the National Bank under No. 128 as of November 28, 2008 has been withdrawn from January 16, 2014 for noncompliance with the legislation of the Kyrgyz Republic, normative and regulatory documents issued by the National Bank of the Kyrgyz Republic, failure to comply with the instructions of the National Bank of the Kyrgyz Republic within the terms set forth, presence f the signs of unsafe banking practice in the activities of the organization such as creation of loan loss provision of inadequate sizes, failure to maintain records in line with the International Accounting Standards (IAS) as well as the normative legal acts of the National bank of the Kyrgyz Republic and provision on non-reliable information, due to the fact the company did not hold any micro-crediting transactions for more than four years by the Committee on Supervision of the National bank of the Kyrgyz Republic in accordance with the para. 8 Article 35 of the Law of the Kyrgyz Republic "On micro-finance organizations in the Kyrgyz Republic", para. 3.8 of the Regulation "On preventive measures and sanctions to be applied by the National Bank of the Kyrgyz Republic in terms of micro-finance organizations", as well as the para. "х" 2.1 Regulation "On the Supervision Committee of the National bank of the Kyrgyz Republic", approved by the Decree of the Board of the National bank of the Kyrgyz Republic under No. 6/2 as of March 19, 2005.  

For the purpose of protecting the rights and interests of the citizens of the Kyrgyz Republic and prevent violations of the Kyrgyz Republic legislation in conducting transactions on the exchange of foreign currency, the National Bank of the Kyrgyz Republic notes:  

- refusal from selling or buying foreign currency is not admitted in the event of the possibilities to conduct currency exchange transactions in accordance with the para. 3.3 Article 3 of the Regulation "On the order of conducting exchange transactions with cash foreign currency in the Kyrgyz Republic" (approved by the Decree of the Board of the National Bank of the Kyrgyz Republic under No. 42/1 as of November 30, 2000);  

- in buying, selling or exchange of foreign currency, authorized banks and their exchange offices, exchange bureaus are not entitled to introduce any restrictions and establish different rates depending on the denomination, year of issue of token money that have not lost the status of the media of exchange in compliance with the para. 3.4 of the above mentioned Regulation.  

In the event of the given requirements are violated, the National Bank of the Kyrgyz Republic will take strict measures as envisaged in the legislation, inter alia, withdrawal of license. Besides, the heads of the exchange offices will bear personal responsibility for the illegal and/or suspicious and doubtful transactions.  

In this regard, the National bank of the Kyrgyz Republic recalls on the necessity to adhere strictly to the requirements of the legislation of the Kyrgyz Republic and non-admission of the implementation of activities that contradict with the acting legislation and violating the rights and interests of the citizens of the Kyrgyz republic. 

Licenses/certificates of the following non-financial credit institutions were cancelled/withdrawn: 

The certificate on the registration of the LLC MCC "Business -Partner - Credit" was withdrawn from January 17,  

2014 under No. 111 as of February 19, 2008 for micro-crediting of physical and legal entities according to the Minutes No. 2 as of December 25, 2013 on self-liquidation, based at the address: 231, Ton Street, Kok-Zhar settlement, Bishkek, the Kyrgyz Republic.  

Interbank payments