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Law of Kyrgyz Republic on the "Bank and Banking Activities in the Kyrgyz Republic" (Part 1)
Law regulating banks and banking activities in the Kyrgyz Republic
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25 pages
This document provides the second part of the Law of the Kyrgyz Republic on bank and banking activities. It provides articles of the law that:
- Explain the concept of bank;
- Detail the concept of deposit;
- Provide the law on banking system which comprises of National bank of Kyrgyz and commercial banks;
- Clarify the type of institutions coming under specialized financial institutions and mention that their activity will be governed by the laws of Kyrgyz Republic;
- Elucidate the delimitation of liability between the Kyrgyz Republic and banks;
- Explicate the extent to which the banks are independent to organize and implement their activities.
The document concludes with the requirements needed by the banks to form unions and associations.
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