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ь On October 13, 2010, in the course of meeting of the Board of the National Bank of the Kyrgyz Republic, the issue on approval of requirements for the bank-agent with regard to settlement of compensations to depositors in accordance with the Kyrgyz Republic Law on Protection of Deposits was considered. 

 

 

ь National Bank of the Kyrgyz Republic informs that on October 12, 2010, decision of the Bishkek Municipal Court reversed decision of the Inter-rayon Court of Bishkek city, dated August 16, 2010, on acknowledgement of resolutions of the Board of the National Bank of the Kyrgyz Republic to be ineffective: Resolution of the NBKR Board No.59/3 “On default procedure of the OJSC AsiaUniversalBank”, dated August 5, 2010 and Resolution of the NBKR Board No.59/4 “On initiation of bankruptcy procedure of the OJSC AsiaUniversalBank”, dated August 5, 2010; as for satisfaction of requirements of former shareholders of the OJSC KyrgyzPromStroyBank on acknowledgement of the above-mentioned resolutions, issued by the National Bank of the Kyrgyz Republic, to be ineffective it was prohibited.  

 

 

ь About state of the cash turnover in the Kyrgyz Republic for the third quarter of 2010.  

As of October 1, 2010, the overall sum of money in circulation constituted 39 991.6 million soms. Among them 1 505.0 million soms were in cash departments of commercial banks, the rest of money was out of the banking system (in comparison with the corresponding period of the past year, the increase constituted 8 884.1 million soms or 28.6 percent).   

In the third quarter of 2010, cash departments of commercial banks received 79 530.4 million soms, that is 16 761.5 million soms or 26.7 percent higher in comparison with the third quarter of 2009.   

In the third quarter of 2010, cash departments of commercial banks issued 81 010.6 million soms, that is 18 724.5 or 30.0 percent higher in comparison with the third quarter of 2009.   

In the third quarter of 2010, cash payback to cash departments of commercial banks constituted 98.2 percent (decrease by 2.6 percentage points in comparison with the corresponding index of the third quarter of 2009).  

Dynamics of cash payback to cash departments of commercial banks for the third quarter of 2010 in the view of oblasts is presented in the Table 1.  

In percent 

 

 

2009  

2010  

Deviation 

Over the republic  

 

100,8 

 

98,2 

 

-2,6 

Bishkek city 

110,0 

110,4 

0,4 

Batken oblast  

60,1 

64,1 

4,0 

Jalalabat oblast  

80,0 

79,1 

-0,9 

Issyk-Kul oblast  

83,7 

81,2 

-2,5 

Naryn oblast  

59,2 

60,1 

0,9 

Osh oblast 

58,3 

69,5 

11,2 

Osh city  

110,0 

101,9 

-8,1 

Talas oblast  

63,1 

62,5 

-0,6 

Chui oblast   

116,9 

99,9 

-17,0 

 

 

News of non-banking financial and credit institutions  

 

License of the Credit Union “Me-Al-Mir” No.407, dated June 20, 2002, has been cancelled from October 11, 2010, on the basis of minutes of the general meeting of shareholders “On self-liquidation” No.2, dated October 2, 2010. Legal address: 34, Attokurov Street, Abduraimov village, Bazarkorgon rayon, Jalal-Abad oblast.  

 

 

"Public consultation office answers your questions" 

What is mortgage lending? 

Mortgage lending is a credit issued under the mortgage. In this case, bail is not transferred to the creditor, but remains in property of the debtor. The mortgaged property under is imposed by ban on sale or re-registration for another person until full repayment of the loan and all interest. 

Mortgage loan is required for people, intending to buy a house (apartment), the cost of which exceeds the size of their savings. Mortgage loan provides the opportunity to stay in own apartment (house) even in the absence of sufficient funds for its purchase. 

If you got a mortgage credit, you need to pay monthly interest on the loan, as well as a part of the amount, the bank loaned to you, i.e. principal amount. Thus, each month you will make payments, consisting of 2 parts: repayment of interests and principal capital. Some banks have monthly payments consist of 3 parts: repayment of principal capital, interests and fees for maintaining of loan account. 

If you decide to buy an apartment, you need to remember that purchase of apartment, is connected with formalization and preparation of various documents. Proper and correct formalization of these documents will help you avoid misunderstandings, save time and start living in your own apartment. We hope that the following tips will be useful and practical for you: 

 

ь You have already decided in favor of the mortgage loan, your next step should be finding a suitable bank; investigate the market and conditions of each individual bank. To choose the best option of the mortgage loan, consider proposals from several banks. Consultants on crediting of the chosen bank will always answer all questions in detail.  

 

ь When choosing the bank or discussing conditions and terms of credit, try to listen to opinions of professionals. 

 

ь Any documents, relating to purchase of apartment, should be signed by you only after careful investigation of their content.  

 

ь Low interest rates may look tempting, but do not choose the bank just because of low interest rates. Low interest rates - is good, but it must be remembered that in addition to these rates there may be additional charges, related to provision and servicing of the loan. These fees, in some cases, can significantly increase the overall cost of credit. Specify the complete list of one-off payments and additional fees, repaid during the whole credit period.  

 

 

Inter-bank payments 

 

Indices of Interbank payment systems (IPS) 

  

Total IPS 

в том числе 

Clearing system 

Gross system 

Volume, 

KGS  

Quantity, 

items 

Volume, 

KGS  

Quantity, 

items 

Volume, 

KGS  

Quantity, 

items 

Indices from the period of October 11, 2010 October 15, 2010 (reporting period) 

Absolute value for a week  

8 014 644 097,57 

24 902 

1 195 574 918,16 

22 432 

6 819 069 179,41 

2 470 

Share of IPS payments (%) 

100,0 

100,0 

14,9 

90,1 

85,1 

9,9 

including (%): 

 

 

 

 

 

 

Net positions of the Single Interbank Processing Center 

0,2 

1,5 

1,3 

1,7 

0,0 

0,0 

Outgoing to the Central Treasurer's Office 

18,9 

12,2 

16,0 

13,2 

19,4 

3,1 

Incoming from the Central Treasurer's Office 

15,8 

19,3 

17,8 

21,2 

15,5 

1,7 

Outgoing to the Social Fund 

0,01 

0,4 

0,1 

0,5 

0,0 

0,0 

Incoming from the Social Fund 

1,3 

12,0 

8,9 

13,3 

0,0 

0,0 

Average weekly indices for the previous month 

Absolute Value 

8 407 515 825,82 

22 167 

1 192 992 871,88 

19 850 

7 214 522 953,94 

2 317 

Indexes deviations of the reporting period from the weekly average indexes of the previous month  

Absolute Value 

-392 871 728,25 

2 735 

2 582 046,29 

2 582 

-395 453 774,53 

153 

-4,7 

12,3 

0,2 

13,0 

-5,5 

6,6 

 

 

Indices of “Elcart” system* 

 

As of  

October 08, 2010 

October 15, 2010 

Number of cards in circulation (exclusive of the re-issued cards) 

100 399 

100 782 

Number of pos-terminals: 

- in banks 

- in trade centers 

566 

447 

119 

569 

449 

120 

Number of automated teller machines 

134 

134 

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