At the meeting held on April 24, 2013 the Board of the National Bank of the Kyrgyz Republic discussed following issues and passed respective resolutions: 

· Introduction of amendments and additions to the Manual "Requirements for bank transactions with insiders and affiliates". (No. 13/9); 

· Introduction of amendments and additions to certain regulations of the National Bank of the Kyrgyz Republic regarding periodic regulatory reporting of NFIs. (No.13/10); 

· Introduction of amendments and additions to the resolution of the Board of the National Bank of the Kyrgyz Republic No. 5/7 dd. 02.03.2006 "Approval of the Regulation "Licensing of banks", registration number 34-06 dated 07.04.2006 of the Ministry of Justice of the Kyrgyz Republic". (№ 13/12); 

· Introduction of amendments to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated 30.11.2007 No.54/1 "Approval of the State Classifier of Payments Cycle". (№ 13/13); 

· New edition of the Regulation on the procedure of conducting credit auctions for refinancing by the National Bank of the Kyrgyz Republic". (No.13/18) 

Kyrgyzstan and Russia expand cooperation in the banking sector 

Banking market in Kyrgyzstan will soon be replenished with new participants and modern products. The Deputy Chairman of the National Bank of the Kyrgyz Republic Zair Chokoev has told it after the visit to Moscow as a member of the Kyrgyz delegation headed by the Prime Minister Zhantoro Satybaldiev, where on April 22, 2013 was held the II meeting of the Kyrgyz-Russian Business Council and the XV meeting of the Kyrgyz-Russian Intergovernmental Commission on Trade, Economic, Scientific and Humanitarian Cooperation. 

At the Business Council were discussed the prospects of cooperation between Kyrgyzstan and Russia in the banking and financial sectors, the participants reviewed several specific proposals. In particular, they talked about opening in Kyrgyzstan a subsidiary bank of Investorgbank and purchasing a controlling stake of Zalkar Bank by Investment Trading Business Holding. 

Zair Chokoev, the Deputy Chairman of the National Bank: "Currently Investorgbank’s appeal to open a subsidiary bank in Kyrgyzstan is under consideration of the Central Bank of Russia. If the regulator gives permission, the bank will send the relevant documents to the National Bank. The National Bank of Kyrgyzstan welcomes the emergence in Kyrgyzstan of one of the largest and stable banks of Russia. Investorgbank is a strong financial institution with healthy ambitions, its practice will influence the rise of competition in the banking sector, will contribute to the development of services provided by commercial banks." 

Commenting on the proposal of Investment Trading Business Holding to buy a controlling stake (90%) of shares of Zalkar Bank, Zair Chokoev had informed that the remaining 10% of shares will be purchased by the State Property Management Fund and had added that the Government of the Kyrgyz Republic and Investment Trading Business Holding will sign an investment protection agreement on the Russian company in accordance with the Kyrgyz laws. 

At the meeting of the Intergovernmental Commission were discussed projects in agriculture, energy, engineering, processing industry as well as cooperation in financial and banking sectors, in particular insurance and provision by the Russian financial institutions of modern products to its Kyrgyz colleagues. Thus, NOVIKOMBANK has offered to commercial banks in Kyrgyzstan its instruments in the banking sector for consideration. 

Major decisions on the above matters have been taken on the XV session of the Kyrgyz-Russian Intergovernmental Commission, where the participants signed a Protocol in order to further develop mutually beneficial cooperation in the banking sector between Kyrgyzstan and the Russian Federation. 

The National Bank took part in the 46th meeting of the Board of Interstate Bank 

The management of the National Bank took part in the 46th meeting of the Board of Interstate Bank, which was held in Moscow on April 26, 2013. They discussed the results of ISB operations in 2012, its financial position and stabilization measures and election of a Chairman of the Board and etc. 

Statement of cash turnover in the Kyrgyz Republic for the 1st quarter of 2013 

The total amount of currency in circulation as of April 1, 2013 comprised 56 699.7 million KGS including 3 223,7 million KGS in commercial banks and the rest out of the banking system (compared with the same period of last year it increased for 8 360,4 million KGS or 17.3 per cent). 

In the 1st quarter of 2013 commercial banks in the whole country received 156 141,8 million KGS, which is greater for 42 124,9 million KGS or 36.9 percent than the 1st quarter of 2012. 

Commercial banks in the 1st quarter of 2013 issued 156 988.7 million KGS, which is greater for 43 156,2 million KGS or 37.9 percent than in than the 1st quarter of 2012. 

The recoverability of cash in commercial banks for the 1st quarter of 2013 was 99.5 per cent (compared with the 1st quarter of 2012, it decreased for 0.7 per cent). 

The change of cash recoverability in commercial banks for the 1st quarter of 2013 is shown in Table 1 in breakdown of regions. 

In percentage 

Licenses annulled of the following Non-bank Financial Institutions: 

1. Starting from 24.04.2013 the accounting registration certificate No. 196 dd. 13.03.2009 of Fortuna Microcredit Company to provide micro loans to individuals and legal entities is annulled based on the decision of External Oversight Department of the NBKR No. 136 dd. 24.04.2013. Legal address: Bishkek, 8-40a Termechikov Street.  

2. Starting from 24.04.2013 the accounting registration certificate No. 355 dd. 08.04.2011 of Kausar Islamic Microcredit Company to provide micro loans to individuals and legal entities is annulled based on the decision of External Oversight Department of the NBKR No. 136 dd. 24.04.2013. Legal address: Bishkek, 194-88 Moscovskaya Street.  

3. Starting from 25.04.2013 the accounting registration certificate No. 366 dd. 04.05.2011 of Bereke-15 Microcredit Company to provide micro loans to individuals and legal entities is annulled due to liquidation. Legal address: Issyk-Kul region, Tyup district, 46/7 Mokoev Street.  

4. Starting from 26.04.2013 the accounting registration certificate No. 185 dd. 31.12.2008 of Trust Company Microcredit Company to provide micro loans to individuals and legal entities is annulled due to liquidation. Legal address: Bishkek, 56 Osh Street.  

Interbank payments