- The Board of the National Bank of the Kyrgyz Republic has approved a new version of the rules regarding the creation and regulation of financial platforms, known as marketplaces. This initiative is aimed at the development of digital and financial services and is now available for public discussion.
Key points of the resolution:
- New rules concerning the creation and functioning of financial platforms (marketplaces) in the country have been approved.
- The previous resolution dated June 2, 2022, No. 2022-P-14/35-3-(NPA) "On the Approval of the Regulation on Regulating Access to Financial Services through Financial Platforms Using Open APIs" has been rendered void.
The new rules will come into effect 15 days after their official publication.
The Legal Department has been tasked with posting the document on the National Bank's website within three working days and sending it to the Ministry of Justice for inclusion in the State Register of Regulatory Legal Acts.
The Department of Digital Financial Technologies must ensure that banks, payment organizations, and associations are informed about the new rules within three working days after publication.
The responsibility for monitoring the implementation of the resolution has been assigned to the Board member overseeing the Department of Digital Financial Technologies.
The resolution was signed by the Chairman of the National Bank, Melis Turgunbaev, and the board members.
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