NBKR's news


Date: 24.09.2019
Permanent link

Official Message  

 

From 24 September 2019, the National Bank of the Kyrgyz Republic puts into circulation silver collection coin “5 years of the Eurasian Economic Union” of the series “Historical events”. 

The collection coin “5 years of the Eurasian Economic Union” of the series “Historical events” is dedicated to the 5th year anniversary of the Eurasian Economic Union (further EAEU) establishment. This coin has been issued within the framework of the international monetary program of the central (national) banks of the EAEU member-states.  

The main image of the obverse of the coin is the stylized figure “5” with the official EAEU emblem and images of the flags of the EAEU member-states depicted by means of color printing. The national ornaments of the EAEU member-states are depicted on the left part of the coin. The inscription “Евразия экономикалык бирлиги/ Eurasian Economic Union” is placed around the coin circumference.  

The national ornaments of the EAEU member-states against the globe, symbolizing the unity of the states, and the figure “5”, are depicted of the reverse side of the coin. The coat of arms of the Kyrgyz Republic is in the center of the coin. In the upper part of the coin there is an inscription “Кыргыз Республикасынын Улуттук банкы” (“National Bank of the Kyrgyz Republic”). The alloy of metal (Ag 925°) and the weight of the coin (31.10g) are specified on the right part of the coin. The left part of the coin contains the denomination of the coin (10) and the graphic sign of Som, comprising the capital letter of the Kyrgyz Republic official monetary unit, and an underscore indicating the stability of the national currency (С). The year of issue (2019) is given in the lower part of the coin.  

Each silver coin with a certificate placed in acrylic capsule and packed into a separate box.  

 Specifications of the coin 

Name  

Denomination 

Metal (alloy) 

Diameter (mm) 

Weight (g) 

Quality 

Issue limit (pcs) 

Price (som) 

5 years of the Eurasian Economic Union 

10 Som 

Ag 925 

38,61 

31,10 

«Proof» 

1 000 

3 040 

 

 The collection coin is the legal tender in the territory of the Kyrgyz Republic.   


Date: 14.05.2019
Permanent link

International Monetary Funds technical assistance mission  

began its work at the National Bank 

 

On May 13, 2019, Nurbek Jenish, Deputy Chairman of the National Bank of the Kyrgyz Republic, met with the technical mission of the International Monetary Fund (IMF). 

The purpose of the visit of the IMF technical mission is to assess the IMF and the Swiss State Secretariat for Economic Affairs (SECO) technical assistance projects in the areas of the monetary policy framework and supervision and regulation of the financial sector.  

The visit of the IMF technical mission will last until May 20, 2019. 

 


Date: 19.04.2019
Permanent link

The National Bank of the Kyrgyz Republic and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), with the support of the Islamic Development Bank, are jointly conducting AAOIFI CIPA training program from 17-27 April 2019 in the following areas: AAOIFI Shariah Standards and Financial Accounting and Reporting (FAR).  

The AAOIFI Shariah Standards program covers the Shariah Fundamentals of Islamic Finance, Trade-based Contracts (Murabaha, Salam, etc.), Equity-based Contracts (Musharaka, Mudaraba), Ijarah contract, Investment Sukuk, Takaful and other services of Islamic bank. Accounting concepts, recognition and classification of Islamic contracts, key differences between AAOIFI and IFRS and other themes will be considered during the AAOIFI Financial Accounting and Reporting module. 

The AAOIFI CIPA training program includes the participation of the representatives of the National bank, financial and credit organizations and Islamic University of Kyrgyzstan.  

For reference:  

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a body that prepares accounting, auditing, governance, ethics and Sharia standards for Islamic financial institutions. 

CIPA stands for Certified Islamic Professional Accountant and it is one of the two flagship qualifications which is offered by the AAOIFI. 

 

 

 


Date: 10.04.2019
Permanent link

With respect to the signed on April 5, 2019 the Framework Agreement for USD 150 million between the Kyrgyz Republic and the International Islamic Trade Finance Corporation (ITFC), commercial banks and microfinance organizations of the country, with the support of the National Bank, started activities for the implementation of the approved amount. ITFC has approved USD 4 million line of finance in favor of two financial institutions operating in the Kyrgyz Republic. It is planned that financial and credit organizations of the Kyrgyz Republic will continue further work aimed at establishing partnership relations with the ITFC and disbursement of the amount in accordance with the terms of the agreement. 

Understanding about this agreement was reached during the first visit of the ITFC mission to the Kyrgyz Republic in September 2018. The delegation of the mission met with Tolkunbek Abdygulov, the Chairman of the National Bank (the IsDB Alternate Governor for Kyrgyz Republic). The participants in the meeting discussed cooperation and the signing of the Framework agreement between the ITFC and the Kyrgyz Republic. The ITFC mission with the National Bank representatives had meeting with commercial banks and microfinance organizations of the Kyrgyz Republic on financing facilities for the trade development. 

The second visit of the ITFC delegation was held from January 28 to February 1, 2019 in Bishkek. ITFC, with the participation of the National Bank, had meeting with government bodies, commercial banks and microfinance organizations of the Kyrgyz Republic to discuss the financing from ITFC.  

 

For reference: The International Islamic Trade Finance Corporation (ITFC) is an entity within the Islamic Development Bank (IDB) Group. Its primary focus is to encourage intra-trade among Organization of Islamic Cooperation (OIC) Member Countries. The Corporation helps businesses in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools in order to help them compete successfully in the global market.». 

 


Date: 19.03.2019
Permanent link

Executive Director of the International Monetary Fund Mr. Paul Inderbinen arrived in Kyrgyzstan on a working visit 

 

On March 17, 2019, the Executive Director of the International Monetary Fund (IMF) Mr. Paul Inderbinen arrived in the Kyrgyz Republic on a working visit.  

Since November 2018, Mr. Inderbinen has chaired the “Swiss group” of the IMF countries, which consists of Azerbaijan, Kazakhstan, Kyrgyzstan, Poland, Serbia, Switzerland, Tajikistan, Turkmenistan, and Uzbekistan. 

The purpose of the visit of the IMF Executive Director is to discuss the prospects of the Kyrgyz Republic's cooperation with the IMF. Within the framework of the visit, meetings will be held with the representatives of the Government of the Kyrgyz Republic and the National Bank of the Kyrgyz Republic

The visit of representatives of the IMF will last until March 20, 2019.