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LAW OF THE RK «ON THE NATIONAL BANK OF THE REPUBLIC OF KYRGYZSTAN» |
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Was repealed by the Law of the Kyrgyz Republic
of July 29, 1997 № 59
REPUBLIC OF KYRGYZSTAN
LAW
ON THE NATIONAL BANK OF THE REPUBLIC OF KYRGYZSTAN
The present Law defines the status of the National Bank of the
Republic of Kyrgyzstan as the central component of the Republic's
banking system and the agency that is called upon to play an
underlying role in formulating and conducting monetary and credit
policy within the Republic.
CHAPTER I. GENERAL PROVISIONS
ARTICLE 1. The National Bank of the Republic of Kyrgyzstan
1. The National Bank of the Republic of Kyrgyzstan (the Bank of
Kyrgyzstan) shall constitute the central bank of the Republic of
Kyrgyzstan and shall fall under the ownership of the Republic.
2. The Bank of Kyrgyzstan shall be a juridical person and shall
engage in its activities in compliance with the present Law.
3. The location of the Bank of Kyrgyzstan shall be the city of
Bishkek. The Bank of Kyrgyzstan shall have the right to set up branch
offices and agencies, and shall appoint the representatives thereof,
both within the Republic of Kyrgyzstan and abroad.
The Bank of Kyrgyzstan shall have a seal bearing its name and the
image of the Government Emblem of the Republic of Kyrgyzstan.
4. The Republic of Kyrgyzstan shall not bear responsibility for
the obligations of the Bank of Kyrgyzstan. The Bank of Kyrgyzstan
shall not bear responsibility for the obligations of the Republic of
Kyrgyzstan.
ARTICLE 2. The Principal Objectives of the Bank of Kyrgyzstan
1. The principal objectives of the Bank of Kyrgyzstan shall be:
ensuring the stability of the official currency of the Republic
of Kyrgyzstan, effecting monetary and credit control within the
Republic of Kyrgyzstan, protecting the interests of creditors and
depositors, ensuring fair banking competition, and overseeing the
observance of banking laws.
2. In realizing its objectives, the Bank of Kyrgyzstan shall
interact with the central banks of other countries.
ARTICLE 3. The Organization of the Activities and the Property of
the Bank of Kyrgyzstan
1. The Bank of Kyrgyzstan shall independently organize and
conduct its activities. The interference of government agencies in the
resolution of the questions relegated by the present Law to
jurisdiction of the Bank of Kyrgyzstan shall not be permitted.
2. The Bank of Kyrgyzstan shall own, use, and dispose of the
monetary resources, buildings, structures, equipment, and other
material valuables which belong to it, and may, for the purpose of
realizing its objectives, found organizations which have the rights of
a juridical person.
3. The Bank of Kyrgyzstan shall not have the right to engage in