ь The NBKR Board regular meetings were arranged on April 15 and April 17, 2009. In the course of these meetings the following questions were regarded and corresponding resolutions were accepted: 

on collection coins “Sulayman Too” and “Issyk-Kul” (No.19/1); 

on approval of the Instruction on the Procedure for execution of limits of the foreign exchange exposure by micro-financial companies, performing reception of deposits (No.19/6); 

on major development trends of the state enterprise “Republic Department of Encashment” for 2009-2011 (No.19/10); 

on the series of collection coins, devoted to the works of Chyngyz Aytmatov (No.20/1). 

News of non-banking financial and credit institutions 

The National Bank of the Kyrgyz Republic issued licenses/certificates to the following non-banking financial institutions and exchange offices: 

1. PE Ibraimova Nargiza Rashidovna (License No 3971 dated April 13, 2009 for conducting cash foreign exchange transactions). Registration number of exchange office: 2202. Legal address: market Ala Archa, Kievskaya Str., Bishkek; 

2. PE Borombaev Rustam Orozaldievich (License No 3972 dated April 13, 2009 for conducting cash foreign exchange transactions). Registration number of exchange office: 2203. Legal address: market Ayshe Trating, 252, Kievskaya Str., Bishkek; 

3. PE Kolotnay Genadiy Petrovich (License No 3973 dated April 14, 2009 for conducting cash foreign exchange transactions). Registration number of exchange office: 2204. Legal address: 162-2, Moskovskaya Str., Bishkek; 

4. PE Ryskulov Duman Bolotbekovich (License No 3974 dated April 14, 2009 for conducting cash foreign exchange transactions). Registration number of exchange office: 2205. Legal address: 86, Moskovskaya Str., Bishkek. Registration numbers of additional exchange offices: 2206, 2207. Legal address of additional exchange offices: 150, Abdrahmanova Str., Bishkek; 

5. PE Petrenko Dminrty Anatolyevich (License No 3975 dated April 14, 2009 for conducting cash foreign exchange transactions). Registration number of exchange office: 2208. Legal address: 161a, Frunze Str., Sokuluk village, Chui oblast; 

6. LLC Dari Nur (License No 3976 dated April 14, 2009 for conducting cash foreign exchange transactions). Legal address: 36, J.Bakiev Str., Jalalabat, Jalalabat oblast; 

7. PE Abdurahmanov Akhliddin Kadirjanovich (License No 3977 dated April 14, 2009 for conducting cash foreign exchange transactions). Legal address: Suzak village, Suzak rayon, Jalalabat oblast; 

8. PE Sididkov Tolibjan Akbaralievich (License No 3978 dated April 14, 2009 for conducting cash foreign exchange transactions). Legal address: Central Market, Jalalabat, Jalalabat oblast; 

9. PE Kushbakov Bolotbek Shukurovich (License No 3979 dated April 14, 2009 for conducting cash foreign exchange transactions). Legal address: Marjanbak Market, Kochkorata town, Nooken rayon, Jalalabat oblast; 

10. PE Ahmenod Muzaffar Mahamatjanovich (License No 3980 dated April 14, 2009 for conducting cash foreign exchange transactions). Legal address: Dakan-Palvan Str., Suzak village, Suzak rayon, Jalalabat oblast; 

11. PE Chekusheva Gulsima Salimyanova (License No 3981 dated April 15, 2009 for conducting cash foreign exchange transactions). Legal address: Central Market, Gagarina Str., Pulgon village, Kadamjay rayon, Batken oblast; 

12. LLP Ruben MJ (License No 3982 dated April 16, 2009 for conducting cash foreign exchange transactions). Legal address: 353, Lenina Str., Osh, Osh oblast; 

13. PE Razakov Erkin Parpievich (License No 3983 dated April 16, 2009 for conducting cash foreign exchange transactions). Legal address: Aybek Bazary market, Asanaliev Str., Kyzyl Kiya, Batken oblast; 

14. PE Razakov Tolkun Parpievich (License No 3984 dated April 16, 2009 for conducting cash foreign exchange transactions). Legal address: Aybek Bazary market, Asanaliev Str., Kyzyl Kiya, Batken oblast; 

15. PE Gapparova Saniyam Rozyahunovna (License No 3985 dated April 17, 2009 for conducting cash foreign exchange transactions). Registration number: 2210. Legal address: 182, Abdrahmanova Str., Bishkek; 

16. PE Ormotoeva Nargiza Jumadilovna (License No 3986 dated April 17, 2009 for conducting cash foreign exchange transactions). Registration number: 2211. Legal address: 150, Abdrahmanova Str., Bishkek; 

17. PE Don Natalya Nikolaevna (License No 3757 dated March 10, 2009 for conducting cash foreign exchange transactions), additional exchange office, registration number: 2209. Legal address: 46, 4th micro district, Bishkek; 

The National Bank of the Kyrgyz Republic revoked certificates/licenses from the following  

1. License No.494 dated July 12, 2005 has been revoked from the Credit Union Bay-Kadam from April 14, 2009 due to breach of the Kyrgyz Republic legislation and normative regulations of the National Bank of the Kyrgyz Republic, detected during complex monitoring. Legal address: 287, Kurmanjan Datka Str., Osh, Osh oblast; 

2. License No.527 dated November 14, 2007 has been revoked from the Credit Union Kokjaiyk from April 14, 2009 on the basis of the decision of the general meeting of participants of the Credit Union Kokjaiyk dated April 16, 2009. Legal address: 97-11, Lenina Str., Naryn, Naryn oblast. 

“Social consultation room” of the National Bank of the Kyrgyz Republic gives answers to your questions 

1. Issuance of the banknote with the nominal value of 5000 soms into circulation is a very great event for us. Why did the National bank of the Kyrgyz Republic issue the 5000 soms banknote right after the banknote of 1000 soms?  

In majority of countries, introduction of banknotes with new nominal value is performed when there is the necessity for the economy in larger nominal values. The major factors, taken into consideration during introduction of new banknotes, include the average salary rate and inflation rate in the previous period as well as the ratio between payments volume, settled in cash and non-cash forms.  

In calculations, the National Bank of the Kyrgyz Republic uses the methodology of Payne-Morgan, widely used by central banks all over the world. The largest nominal value should constitute 20 daily salary rates, i.e. the nominal of a banknote should be approximately equal to the average monthly salary rate. According to the National Statistics Committee, the average monthly salary rate constituted 5 422 soms in 2008.  

Issuance of the banknote with the nominal value of 5000 soms is the economic situation reflection in the country, which is characterized by the growth of monetary income of the population. This banknote will enable to take some part of load from the banknotes with the nominal value of 1000 soms, playing the role of the means of hoarding. Moreover the nominal value of 5000 soms will provide the population with the alternative against 100 US dollars or 100 EURO, which will allow to reduce the share of foreign currencies in the cash turnover of the republic and to strengthen the national currency.  

2. Are the plans to image the Great Writer Chyngyz Aytmatov on banknotes by the National Bank of the Kyrgyz Republic?  

The idea on memorizing of the outstanding writer of the 20th century and the son of the Kyrgyz people Chyngyz Aytmatov on the national currency of the Kyrgyz Republic is under consideration by the National Bank: the question on issuance of silver collection coins devoted to Chyngyz Aytmatov and his works is being developed.  

The tender on issuance of coins was performed, which resulted in signing of the contract between the National Bank of the Kyrgyz Republic and Lithuanian mint. In May 2009, six collection coins will be issued into circulation including: “Chyngyz Aytmatov”, “Jamilya”, “First Teacher”, “Farewell Gulsary”, “White Steamer” and “Mother’s Field”. More detailed information about the coins will be provided on the threshold of the issuance of those coins into circulation in the mass media of the republic.  

Inter-bank payments  

ь As of April 17, 2009, the shareholders of CJSC “Interbank processing center” include 16 commercial banks and OJSC “Kyrgyztelecom”. 16 commercial banks are connected to the Single Interbank Processing Center. 46 200 Elcart cards were issued, 434 terminals and 112 automated teller machines are functioning. 356 terminals are installed in branches and savings departments of commercial banks in Bishkek and regional centers, 78 terminals in trade-service enterprises. 

The list of cash issuance centers, automated teller machines and trade-service enterprises, service the national cards Elcard is provided on the site of the National Bank of the Kyrgyz Republic (www.nbkr.kg) in the section “Payment system/Single Interbank Processing Center”.