ь On September 29, 2010, in the course of meeting of the Board of the National Bank of the Kyrgyz Republic the following issues were considered and corresponding resolutions were accepted:  

­ On issuance of collection 10 som silver coins in circulation: “10 years EurAsEC” and “Tyndyk kotoryy” (Түндүк көтөрүү) (№75/5); 

­ On approval of the Kyrgyz Republic Law “On the Kyrgyz Republic Development Bank” (№75/8); 

­ On introduction of changes into Provisional Regulations for activity of the micro-financing companies (№75/14). 

ь On September 28, 2010, administration of the National Bank of Kyrgyz Republic met with delegation of foreign investors, including Mr. K. Shahrumani, Mr. G. Bagemezi, Mr. M. Seid, Mr. Jay, Sheriff, Z. Horsandi, S. Khatami, M. Yakurova, etc. In the course of the meeting, the issues, related to economic cooperation, in particular the possibility of capital investment in economic development of Kyrgyzstan, were discussed. Also the current situation in the market of banking services was observed. 

ь On September 27, 2010, management of the National Bank of Kyrgyz Republic met with delegation of the Development Bank of China, headed by Chief economist, Mrs. Wang Yuan. Mrs. Wang Yuan expressed gratitude for the opportunity to arrange the meeting, which primary purpose was to familiarize with the current situation in the banking sector of the country and to discuss perspectives for further cooperation. The main purpose of the visit to the Republic was to provide financial support for social projects, construction, development of small and medium business, etc. 

Ms. Wang Yuan briefly described the activities of the Development Bank of China, and noted successful development of cooperation between the Development Bank of China and the OJSC "RSK Bank" within the SCO Interbank Association. In the course of the meeting, the issues, related to the possibility of opening accounts by commercial banks of the republic in yuan, were discussed; other issues discussed were: expansion of the financial resources volume of Kyrgyzstan, improvement of skills, training and information exchange. In addition, they discussed issues, related to economic situation in the country - namely, the perspectives for economic growth and inflation forecasts. 

In conclusion of the meeting, the parties noted the necessity in further cooperation, which will expand with regard to stabilization of the situation in the republic. 

ь Национальный банк Кыргызской Республики сообщает, что 27 сентября 2010 года Комитетом денежно-кредитного регулирования Национального банка Кыргызской Республики принято решение сохранить базовую ставку для целей кредитования ОсОО "Специализированный фонд рефинансирования банков" на уровне 7,0 процента. Решение вступает в действие с 1 октября 2010 года. 

ь National Bank of the Kyrgyz Republic informs commercial banks that the following documents are allocated on the official site of the National Bank of the Kyrgyz Republic in the section Normative acts/Projects for discussion: 1) Draft of changes and amendments to some normative legal acts of the National Bank of the Kyrgyz Republic. This draft includes changes and amendments in Requirements for banks with regard to work with securities, approved by the NBKR Board, dated March 27, 2004, No.6/5 

“On requirements for banks with regard to work with securities”, registered in the Ministry of Justice of the Kyrgyz Republic on April 27, 2004, registration number 53-04 and other normative acts of the National Bank of the Kyrgyz Republic. Department of Supervision and Licensing Methodology asks to provide comments and proposals on this project to the following e-mail address before October 11, 2010: gkaparova@nbkr.kg. 

2. Introduction of amendments and changes into Provision No.26/5“On periodic regulative banking report”, approved by resolution of the NBKR Board on August 25, 2005 and Instruction on “Determination of standards for capital adequacy of the banks, performing transactions in accordance with the Islamic principles of banking and financing”, approved by resolution of the NBKR Board No.51/4, dated December 28, 2009. Department of Supervision and Licensing Methodology asks to provide comments and proposals on this project to the following e-mail address before October 13, 2010: uboobekova@nbkr.kg.  

News of non-bank financial institutions 

The National Bank of the Kyrgyz Republic issued licenses (certificates) for the following non-banking financial institutions (NBFI): 

1. Institution MCA “Altyn Kazyna plus” (certificate on accounting registration N°196 dated September 28, 2010 for micro-crediting of individuals and legal entities). Legal address: 104, Toktoguls Str., Karakol, Issyk-Kul oblast; 

2. LLC “Sanan” (license N°4489 dated October 1, 2010 for the right to perform exchange transactions with cash foreign currency), registration number of exchange office – 2608. Legal address: 76, Kievskaya Str., Bishkek city; 

3. Private Enterprise Usmanov Baktiyar Kadirjanovich (license N°4488 dated September 29, 2010 for the right to perform exchange transactions with cash foreign currency). Legal address: central market, Jalal-Abad city, Jalal-Abad oblast (over against atelier “Maryam”);  

4. Private Enterprise Kurbanbekov Taalaibek Kurbanbekovich (license N°4487 dated September 28, 2010 for the right to perform exchange transactions with cash foreign currency). Legal address: Vokzalnaya Str., Bazar Korgon village, Bazar Korgon rayon, Jalal-Abad oblast (orienting point: savings bank “Bank-Bakai” );  

The following certificates and licenses of non-bank financial and credit institutions were cancelled: 

1. Certificate of the Public Fund MCA “Center-Credit-Business” (certificate on accounting registration No. 47, dated October 23, 2003, for micro-crediting of individuals and legal entities) has been cancelled from September 29, 2010, on the basis of decision of participants No.6, dated September 28, 2010 on liquidation of the MCA “Center-Credit-Business”. Legal address: 42a, Beishenaliev Str., Bishkek.  

Inter-bank payments 

Indices of “Elcart” system* 

*According to CJSC “Inter-bank processing center”, at present all 22 commercial banks are connected to the Single Inter-bank Processing Center.