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ь The National Bank of the Kyrgyz Republic informs that on May 30, 2011, the Committee of Monetary Regulation of the National Bank of the Kyrgyz Republic agreed to establish the base rate for crediting purposes of the LLC “Specialized Fund for Banks Refinancing” at the level of 10.0 percent. The decision came into force on 1 June, 2011.  

 

ь On 1 June, 2011, the following issues were considered in the course of the meeting of the National Bank of the Kyrgyz Republic:  

On the monetary policy report for the first quarter of 2011, monetary program for the coming period and the results of the analysis of indicators of threats to financial stability; 

On development trends of the commercial banks system of the Kyrgyz Republic; 

Report on the current state of the payment system;  

 

ь In connection with the incoming requests, the Public Information Office of the National Bank provides information on cooperation of the Kyrgyz Republic with the International Monetary Fund  

International Monetary Fund - is the intergovernmental organization, assigned to regulate the monetary and credit relations between the Member States, and providing them with financial assistance during occurrence of difficulties, mainly caused by the balance of payments deficit, by providing short-and medium-term loans in foreign currency. The IMF governing bodies are the Board of Governors and the Directorate. The IMF is a specialized agency of the UN and practically serves as the institutional basis for the world monetary system. The IMF was established by the International Monetary and Financial Conference of the United Nations in 1944. The Conference adopted the Articles of Agreement on the IMF, which is its Charter. 

Capital Fund is made up of contributions from member countries in accordance with the established quota for each country. Over 180 countries are members of the IMF. The Kyrgyz Republic joined the IMF in May 1992. Since joining the IMF, our country has cooperated with the IMF within the framework of agreements on reserve funds (Stand-by) and the Systemic Transformation Facility, as well as the funding mechanism for Poverty Reduction and Growth Facility and the funding mechanism for the Exogenous Shock Facility. 

In general, for the period from 1993 to 2010, the IMF has provided our country with concessional loans amounting to 323.4 million SDR, including 22.2 million SDR provided in September 2010 as a part of the mechanism of the accelerated crediting (Rapid Credit Facility - RCF ).  

This mechanism is a short-term program, which is provided promptly to countries, experiencing an urgent need for the balance of payments, and providing flexible support for a variety of circumstances - shocks, natural disasters and emergencies. Funds under the RCF were given the Kyrgyz Republic in connection with recent political events in the country. The IMF was one of the first international financial institutions, which provided assistance to the country after political events of April and June, 2010.  

Considering small size of the economy and high level of vulnerability to external shocks, it is extremely important for the Kyrgyz Republic to continue active cooperation with the IMF within the framework of medium-term concessional IMF facilities. In turn, cooperation of the Kyrgyz Republic and the IMF will serve as a catalyst for other financial institutions (World Bank, Asian Development Bank, European Bank, etc.), since the main objective of the IMF programs is to ensure macroeconomic stability. 

Currently, as per results of the IMF mission, arranged from April 20 to May 4, 2011, draft memorandum on economic policy of the Kyrgyz Republic for 2011-2013 is prepared by the Executive Board of IMF for acquisition of financial assistance within the framework of the Extended Credit Facility in the amount of 66.6 million SDR. This mechanism is a medium-term program and also is of concessional character. 

An important aspect in collaboration with the IMF is technical assistance, provided on a grant basis. In the first years after independence, long-term technical advisers have made an important contribution to improvement of quality of statistics, tax system and central bank activity. Their efforts were supplemented by a number of short-term missions to provide technical assistance and training programs for government employees. 

 

 

News of non-banking financial institutions  

 

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

1. PE Alieva Aigul Najimidinovna (License No. 4676, dated May 30, 2011 for conducting cash foreign exchange transactions). Legal address: 136, Frunze Street, Balykchi city, Issyk-Kul oblast. 

2. PE Minbaev Samat Asanbaevich (License No. 4677, dated May 30, 2011 for conducting cash foreign exchange transactions). Legal address: Toktogula Street, Karakol city, Issyk-Kul oblast (shop “Baisal”). 

3. PE Yusupov Rustam Habibovich (License No. 4678, dated May 30, 2011 for conducting cash foreign exchange transactions). Legal address: 145, Lenina Street, Karakol city, Issyk-Kul oblast (shop “Baisal”). 

4. PE Pechurin Sergey Nikolaevich (License No. 4679, dated June 3, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 2766. Legal address: 18, Kojomberdieva Street, Kara-Balta town, Chui oblast (exchange office “Argo”). 

5. PE Telegonov Turganbek Ahmetalievich (License No. 4680, dated May 30, 2011 for conducting cash foreign exchange transactions). Legal address: 77, Sovetskaya Street, Cholpon-Ata city, Issyk-Kul oblast (post-office building). 

6. PE Toktonazarov Nuraly Tokenovich (License No. 4681, dated June 3, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 2767. Legal address: 2-10/11, Den Syaopina Street, Bishkek. 

7. PE Sarsenbaev Altynbek Albyspaevich (License No. 4682, dated June 3, 2011 for conducting cash foreign exchange transactions). Registration numbers of exchange offices: 2768, 2769. Legal addresses: 524, Lenina Street, Chaldovar village, Chui oblast and 524a, Lenina Street, Chaldovar village, Chui oblast correspondingly. 

8. LLC “Shans-Artur” (License No. 4683, dated May 30, 2011 for conducting cash foreign exchange transactions). Legal address: 181, Turdalieva Street, Talas city, Talas oblast. 

9. PE Dzholdoshbaev Talant Galiakparovich (License No. 4684, dated June 3, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 2770. Legal address: 276, Kurmanjan Datka Street, Bishkek. 

10. PE Dzholdoshbaev Galiakpar Erbaevich (License No. 4685, dated June 3, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 2771. Legal address: 290, Kurmanjan Datka Street, Bishkek. 

11. PE Davletov Nurbek Bolotbekovich (License No. 4686, dated June 3, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 27722771. Legal address: 1/1, Mira Avenue, Bishkek. 

12. PE Kudukeev Altynbek Anarbekovich (License No. 4687, dated June 3, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 2773. Legal address: 164, Moskovskaya Street, Bishkek. 

 

 

News of non-banking financial institutions  

 

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

 

 

Interbank payments 

 

Indexes of the Interbank Payment Systems (IPS) 

  

Total IPS 

including 

Clearing system 

Gross system 

volume 

million soms 

quantity items 

volume 

million soms 

quantity items 

volume 

million soms 

quantity items 

Indexes for the period from May 30, 2011 to June 3, 2011 (reporting period) 

Absolute Value 

12 394 399 817,48 

27 889 

1 477 347 461,24 

25 088 

10 917 052 356,24 

2 801 

Share in IPS payments (%) 

100,0 

100,0 

11,9 

90,0 

88,1 

10,0 

including (%): 

  

  

  

  

  

  

Net positions of Common Interbank Processing Center 

0,2 

1,3 

1,7 

1,4 

0,0 

0,0 

Outgoing to the Central Treasurer's Office 

14,1 

18,1 

28,6 

19,9 

12,1 

1,9 

Incoming from the Central Treasurer's Office 

27,5 

23,2 

10,4 

25,2 

29,8 

5,0 

Outgoing to the Social Fund 

0,3 

3,9 

2,7 

4,4 

0,0 

0,0 

Incoming from the Social Fund 

0,4 

6,6 

3,6 

7,4 

0,0 

0,0 

Average weekly indexes for the previous month 

Absolute Value 

9 513 486 073,15 

25 085 

1 144 323 407,43 

22 823 

8 369 162 665,72 

2 262 

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

Absolute Value 

2 880 913 744,33 

2 804 

333 024 053,81 

2 265 

2 547 889 690,52 

539 

30,3 

11,2 

29,1 

9,9 

30,4 

23,8 

 

 

Indices of “Elcart” system* 

 

As of 

27.05.2011 

03.06.2011 

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

110 584 

110 865 

Number of pos-terminals:  

- in banks  

- in trade centers   

561 

418 

143 

562 

419 

143 

Number of automated teller machines  

143 

142