The National Bank updated the rules for licensing and regulating credit unions
The changes affect the following documents:
- Rules governing the activities of credit unions (approved on May 4, 2005, No. 14/2).
- Regulation on the licensing of credit unions (adopted on December 23, 2015, No. 78/25).
- Regulation on the licensing of the Joint Stock Company "Financial Company of Credit Unions" (since June 15, 2017, No. 2017-P-12/25-10-(NFKU)).
- Rules governing the activities of the Joint Stock Company "FKKS" (adopted on March 20, 2024, No. 2024-P-12/12-2-(NFKU)).
The new rules will come into effect 15 days after their official publication.
The Legal Department has been instructed to post the text of the resolution on the National Bank's website within three working days and to send it to the Ministry of Justice for registration in the State Register of Regulatory Acts.
The Methodology of Supervision Department has also been tasked with informing the National Association of Credit Unions and Cooperatives of Kyrgyzstan, the Joint Stock Company "FKKS", and credit unions about the amendments made.
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