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ь Long-term cooperation in the field of risk management was the topic of the conversation between Z. Asankozhoeva, Chairperson of the National Bank of the Kyrgyz Republic and representatives of the National Bank of Poland, who were in Kyrgyzstan to provide technical assistance to NBKR.   

The meeting addressed issues of financial and operational risks management, discussed the establishment of long-term strategy for financial risk management, the development of the reference portfolio and the evaluation of the effectiveness of management of international reserves. Representatives of the National Bank of Poland have underlined that the NBKR is building its activities in this direction in accordance with the same international standards as the NBP.  

As stated at the meeting, the National Bank plans to develop the implementation of integrated risk management and to improve the continuity of the bank activities, so the arrival of experts in these areas is very important for the NBKR, and will allow to speed up these processes and to implement them in a quality manner.  

Z. Asankozhoeva noted the effectiveness of cooperation of the NBKR with the National Bank of Poland in various areas, including the training of NBKRs staff by Polish colleagues, whose experience in the development of the Central Bank is applicable in Kyrgyzstan.   

 

 

ь The National Bank of the Kyrgyz Republic informs that on April 19 at the news agency "Kabar" held a press conference with Deputy Chairperson of the NBKR Chokoev Z.L. , Head of the LEA "Union of Banks of Kyrgyzstan" Anvar Abdraev, Executive Director of the Association of Microfinance Institutions in Kyrgyzstan N. Zholdosheva. The theme of the press conference was “Measures taken by the National Bank, LEA "Union of Banks of Kyrgyzstan" and the MCC to address the problems of the affected borrowers”. 

 

 

ь Zina Asankozhoeva, Chairperson of the NBKR held an annual meeting with the best students of the leading universities of the capital city. Future economists were able to directly put their questions to leadership of the National Bank. All the themes voiced by the students proved to be very relevant, as many of the questions had been noted by the chairperson of the National Bank as competent and worthy of the level of certified specialists. The students were interested in the influence of changes in inflation rates on economic growth, the terms of introducing common currency in the Customs Union, the feasibility of establishing Development Bank in Kyrgyzstan, etc. Of course, the state of the banking sector and microcrediting companies was not gone unnoticed by students. The talk turned to the country's credit rating, high interest rates in MCC, commercial banks that are in conservation mode, etc. Chairperson of the NBKR noted the high level of knowledge of students and invited them to submit their scientific papers for the competition held by the National Bank on the occasion of its 20th anniversary.  

 

ь In the framework of cooperation between Kyrgyzstan and the International Labour Organization, the ILO delegation visited the National Bank of KR. Representatives of the ILO during the meeting with Z. Asankozhoeva, the head of the NBKR, discussed the issues of public policy in the sphere of employment. The meeting participants have stressed the importance of discussing the measures to increase employment level, since the unemployment rate along with the inflation rate is an important indicator in determining monetary policy and directions of development of the country's economy. As noted at the meeting, the development of microfinance in the country may be the solution to this problem.   

 

ь Zina Asankozhoeva, Chairperson of the NBKR held talks with representatives of the Turkish delegation headed by Zhavit Dagdash, Deputy State Secretary of the Treasury. The purpose of the Turkish economists visit to Kyrgyzstan was to discuss bilateral cooperation in the field of finance. As Zhavit Dagdash has told at the meeting, the Turkish side has already begun technical work on opening a credit line to support the state budget of KR, now it is necessary to determine the terms and conditions of funding. In addition to the banking system and monetary policy of our country, the meeting touched upon topics of general economic situation in Kyrgyzstan, its national budget and debt. The Chairperson of the NBKR thanked Zhavit Dagdash for the intention to provide assistance to Kyrgyzstan and expressed readiness of the National Bank to further fruitful dialogue.  

 

 

 

 

ь National Bank of the Kyrgyz Republic announces a competition of research papers among university graduate students and candidates for a master's degree dedicated to the 20th anniversary of the National Bank of the Kyrgyz Republic. Admission of papers for the competition is carried out from April 9 to July 31, 2012.  

I. PURPOSE  

The purpose of the competition is to attract candidates for a master's degree and graduate students to scientific and research activity as well as to popularize economic ideas and principles among the general public.  

II. Participants   

University graduate students and candidates for a master's degree studying in the Kyrgyz Republic, and citizens of the Kyrgyz Republic studying abroad may participate in the competition.   

One person may submit only one paper.  

The maximum number of authors of a paper - two people.  

III. REQUIREMENTS 

1. The papers should be devoted to the economy of the Kyrgyz Republic and executed on one of the following areas:  

· Banks and banking;  

· Exchange rate;  

· Foreign economic relations;  

· Public and private debt;  

· Monetary and credit policy;  

· Inflation and inflation processes;  

· Macroprudential supervision;  

· Financial stability;  

· Financial markets;  

· Fiscal policy;  

· Economic growth.  

2. The use of quantitative methods of analysis (the use of econometric tools) is an advantage.  

3. The following works will be accepted:  

- Master's theses and graduation papers approved by the decision of the Department (attach the Decision stamped by University);  

- articles approved by the decision of the Department (attach the Decision stamped by University) and recommended for publication;  

- articles published in 2011-2012 in the certified scientific journals (insert name of publication, date, number, and an electronic link to work if available);  

- articles published by students and candidates for a master's degree in the collections of scientific conferences.  

4. Lack of plagiarism.  

5. The works may be submitted in Kyrgyz and/or Russian languages.  

6. Technical requirements for the papers.  

The paper shall consist of the following parts:  

6.1 Paper name.  

6.2 Annotation in Kyrgyz, Russian and English, key words.  

6.3 Introduction.  

6.4 Main points (theoretical, methodological aspects and empirical calculations).  

6.5 Conclusion (findings and proposals).  

6.6 Literature.  

6.7 Appendix.  

The volume of the competition paper shall not exceed 15 (fifteen) A4 pages, font Kyrgyzfnt for papers in Kyrgyz language and Times New Roman for papers in Russian language, font size 12, spacing 1.5, margins: left 3, up/down - 2, right - 1.5.  

The works not meeting these specifications will not be considered.  

IV. Documents necessary for the competition   

Acceptance of papers for the Competition will be held until 17:00 July 31, 2012.  

Participants need to attach originals of certificates from the educational institution, signed Application form and scientific paper.   

For group work shall be submitted one application.  

The works must be submitted with a note "For the competition of scientific papers" at:  

101, T.Umetaliev street, room 104, Bishkek 720040, Kyrgyz Republic and by e-mail: aberdigulova@nbkr.kg   

V. The procedure of the competition  

Stage 1. From April 9 to July 31, 2012 acceptance of papers on paper or in electronic form (accompanied by tables, graphs, calculations).  

Stage 2. From July 31 to August 7, 2012 check of works for compliance with the requirements specified in section III.  

Stage 3. From August 7 to September 28, 2012 consideration of papers admitted on the basis of stage 2 by evaluation commission. The commission will evaluate the papers received in accordance with the criteria specified in section VI.  

Stage 4. October 17, 2012 - awarding winners.  

The dates specified for the stages may be changed depending on the volume of received papers. Information on all changes will be posted on the website of the National Bank of KR.  

Competition papers, including those considered and rejected, will not be reviewed and returned.  

All participants will be notified of the outcome of the Competition before October 16, 2012 by e-mail.  

VI. Criteria for evaluation of competition papers (points)  

- relevance of the paper to the economy of Kyrgyzstan (10 points);  

- significance for scientific, practical and applied activities of the NBKR (10 points);  

- use of scientific and methodological approaches in the performance of paper and implementation of calculations with the use of econometric and statistical methods (10 points);  

- handling empirical data and theoretical conclusions (10 points);  

- availability of findings and recommendations that have applied nature (10 points);  

- grammar and style of the paper(10 points).  

  

VII. Awards  

First place - 10000 KGS (regardless of the number of authors) and the possibility of an internship in NBKR.  

Second place - 7000 KGS (regardless of the number of authors) and the possibility of an internship in NBKR.  

Third place - 5000 KGS (regardless of the number of authors) and the possibility of an internship in NBKR.  

Three incentive prizes - acrylic blocks rated 5 KGS, the possibility of an internship in NBKR.  

VIII. Telephone for inquiries:  

+ (996 312) 66-91-59.  

 

 

 

 

 

On Cash Turnover Status in the Kyrgyz Republic 

for I quarter of 2012 

 

The total amount of money in circulation as of April 1, 2012 made 48,339.4 million KGS, of which 2,235.1 million KGS were in the cash departments of commercial banks, and others - outside the banking system (increased by 7,493.3 million KGS or 18.3 percent as compared with the corresponding period of the previous year).  

In I quarter of 2012 the cash departments of commercial banks in the republic received 113,706.0 million KGS, which is 32,756.2 million KGS or 40.5 percent more than in I quarter of 2011.  

In I quarter of 2012 the cash departments of commercial banks dispensed 113,773.0 million KGS, which is 31,789.5 million KGS or 38.8 percent more than in I quarter of 2011.  

Cash repayment to the cash departments of commercial banks for I quarter of 2012 amounted to 99.9 percent (an increase made 1.2 percentage points as compared with the index of I quarter of 2011). 

Changing the repayment of cash in the cash departments of commercial banks by regions for I quarter of 2012 is shown in Table 1. 

 

 

 

 

in percent 

 

2011  

2012  

Deviation  

 

Total in the country 

 

98,7 

 

99,9 

 

1,2 

Bishkek city  

104,0 

107,8 

3,8 

Batken oblast  

75,7 

86,8 

11,1 

Jalalabad oblast  

83,9 

89,1 

5,2 

Issyk-Kul oblast  

82,0 

83,6 

1,6 

Naryn oblast  

68,3 

67,3 

-1,0 

Osh oblast  

72,3 

68,5 

-3,8 

Osh city  

114,7 

106,3 

-8,4 

Talas oblast  

65,8 

74,9 

9,1 

Chui oblast  

112,8 

102,4 

-10,4 

 

 

The National Bank of the Kyrgyz Republic issued licenses/certificates to the following NFCI and exchange offices: 

 

o PE Borombaev Rustam Orozalievich (License No. 4906 dated April 16, 2012 for conducting cash foreign exchange transactions), Registration number of exchange office: 2947. Legal address: 255, Kievskaya street, Bishkek (Osh market, store "Aishe-Trading"); 

o LLC "MCS Agency" (License No. 4907 dated April 16, 2012 for conducting cash foreign exchange transactions), Registration numbers of exchange offices: 2948, 2949. Legal addresses: 119 and 125, Abdrakhmanov street, Bishkek; 

o LLC "Morion" (License No. 4908 dated April 16, 2012 for conducting cash foreign exchange transactions), Registration number of exchange office: 2950. Legal address: 119, Shopokov street, apt. 1 and 2, Bishkek, store “Altyn style”; 

o PE Botobaev Olzhobai Kochkonovich (License No. 4909 dated April 16, 2012 for conducting cash foreign exchange transactions), Registration number of exchange office: 2951. Legal address: Dordoi market, Central passage, container 15, Bishkek; 

o PE Kuldashev Takhirdzhan Mamasalievich (License No. 4910 dated April 16, 2012 for conducting cash foreign exchange transactions). Legal address: unnumb., N.Aitmatova street, Jalalabad, Jalalabad oblast (reference point: Central market, passage 1 from the Mayors Office, first room on the left); 

o PE Kadyrov Adylzhon Mirzaevich (License No. 4911 dated April 18, 2012 1 for conducting cash foreign exchange transactions). Legal address: Eliza market, passage 1, container 5, Kochkor-Ata, Jalalabad oblast; 

o PE Mavlyanov Taalaibek Daminovich (License No. 4912 dated April 19, 2012 for conducting cash foreign exchange transactions). Legal address: “Aibek Bazary” Central gate, Asanaliev street, Kyzyl-Kyia, Batken oblast; 

o PE Satybaldieva Arzykan (License No. 4913 dated April 19, 2012 for conducting cash foreign exchange transactions), Registration number of exchange office: 2952. Legal address: 2, Den Syaopina street, apt. 31, Bishkek; 

o PE Rudenko Anton Vasilievich (License No. 4914 dated April 20, 2012 for conducting cash foreign exchange transactions), Registration number of exchange office: 2953. Legal address: 119 “A”, Abdrakhmanov street, Bishkek; 

o PE Kushubekov Esenkul Kanatovich (License No. 4915 dated April 20, 2012 for conducting cash foreign exchange transactions). Legal address: 65/7 Sarygulova street, Talas, Talas oblast; 

o IE Negrutsak Tatiana Nikolaevna (License No. 4916 dated April 20, 2012 for conducting cash foreign exchange transactions), Registration number of exchange office: 2954. Legal address: 161 “a”, Frunze street, Sokuluk, village, Chui oblast; 

o LLC "Sayasat" (License No. 4917 dated April 20, 2012 for conducting cash foreign exchange transactions), Registration number of exchange office: 2953. Legal address: 165, Frunze street, Sokuluk village, Chui oblast; 

o LLC MCC "Alkanov Finance" (Account Registration Certificate No. 448 dated April 17, 2012 for microcrediting individuals and legal entities). Legal address: 74, Kozhevennaya street, Bishkek; 

o CJSC "MCC "AIM Credit" (Account Registration Certificate No. 449 dated April 19, 2012 for microcrediting individuals and legal entities). Legal address: 212/2, Toktogul street, Bishkek; 

o LLC MCC "Kutman Credit" (Account Registration Certificate No. 450 dated April 20, 2012 for microcrediting individuals and legal entities). Legal address: 33 “A”, Stantsionnaya street, Tokmok, Chui oblast; 

o Institution MCA «Ala-Too Finance» under the Ministry of Youth, Labour and Employment of the Kyrgyz Republic (Account Registration Certificate No. 201 dated April 20, 2012 for microcrediting individuals and legal entities). Legal address: 106, Chui pr., Bishkek. 

 

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

 

According to the minutes of general meeting of participants dated April 18, 2012 and application of MCA dated April 18, 2012 Account Registration Certificate No. 81 of PF MCA “Iygilik-Bolsun” as of March 9, 2005 for microcrediting individuals and legal entities has been revoked from April 18, 2012. Legal address: unnumb., Kydyr-Ake street, Aksuu village, Aksuu rayon, Issyk-Kul oblast. 

 

 

Indexes of the Interbank Payment Systems (IPS) 

 

Total IPS 

including 

Clearing system 

Gross system  

Volume, 

KGS 

Quantity, 

items 

Volume, 

KGS 

Quantity, 

items 

Volume, 

KGS 

Quantity, 

items 

Indexes for the period from April 16 to April 20, 2012 (reporting period) 

Absolute Value 

10 633 251 460,90 

40 189 

1 241 941 639,86 

37 628 

9 391 309 821,04 

2 561 

Share in IPS payments (%) 

100,0 

100,0 

11,7 

93,6 

88,3 

6,4 

including (%) : 

  

  

  

  

  

  

Net positions of Common Interbank Processing Center 

0,1 

1,8 

0,9 

2,0 

0,0 

0,0 

Outgoing to the Central Treasurers Office 

13,3 

6,1 

13,8 

6,3 

13,2 

2,7 

Incoming from the Central Treasurers Office  

16,9 

40,2 

20,1 

42,6 

16,5 

4,2 

Outgoing to the Social Fund  

0,02 

0,2 

0,1 

0,2 

0,0 

0,0 

Incoming from the Social Fund  

0,3 

2,6 

2,3 

2,8 

0,0 

0,0 

Average weekly indices for the previous month  

Absolute Value 

11 164 419 556,90 

45 570 

1 280 543 790,85 

42 942 

9 883 875 766,05 

2 628 

 

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

Absolute Value 

-531 168 096,00 

-5 381 

-38 602 150,99 

-5 314 

-492 565 945,01 

-67 

-4,8 

-11,8 

-3,0 

-12,4 

-5,0 

-2,6 

 

 

 

Interbank payments 

 

 

Indices of Elcart system  

 

As of  

13.04.2012 

20.04.2012 

Total number of issued cards (excluding re-issued cards) 

127 868 

128 487 

Number of pos-terminals: 

- in banks  

- in trade centers  

 

718 

458 

260 

 

718 

458 

260 

Number of automated teller machines  

177 

189