From Boston Herald By Jordan Graham November 5, 2013 Bitcoin — the digital currency produced...
Resolution No. 7-2 of 2007 on minimum requirements for microfinance institutions and credit unions to counter financing of terrorism and laundering.pdf
(amended through 2009)
Resolution No. 7-2 of 2007, issued by the National Bank of the Kyrgyz Republic, defines the minimum requirements for internal controls in microfinance institutions and credit unions, in order to counter the financing of terrorism (extremism) and the legalization (laundering) of proceeds of crime.
The regulation discusses the following:
- General provisions;
- Policy of internal controls to counter the financing of terrorism and legalization of proceeds of crime;
- Powers and duties of officer responsible for implementation of this regulation;
- Documentation; and
- Assessment of internal controls.
DISCLAIMER: Due to the fact that an English translation was unavailable for this resolution, information for this summary has been taken from secondary sources and not from review of the actual legal text.