On June 26, 2013, the Board of the National Bank of the Kyrgyz Republic considered and adopted the decrees as follows: 

· Regulation "On the order of placement, repeated tender, repeated placement, repurchase and settlement with state securities of the Government of the Kyrgyz Republic through the National Bank of the Kyrgyz Republic" (№ 20/1); 

· "On amendments to the Regulation "On periodic regulatory bank report", approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic № 26/5 as of August 25, 2005, registered in the Ministry of Justice of the Kyrgyz Republic as of August 16, 2005 under registration number 132-05 (№ 20/7); 

· Regulation "On the order of conducting the credit auction by the National Bank of the Kyrgyz Republic for the purpose of refinancing and support of liquidity". (№ 20/14)  

Draft law "On the payment system of KR" is adopted by Jogorku Kenesh of KR 

Having considered the draft law "On the payment system in KR" at the plenary session, Jogorku Kenesh of the Kyrgyz Republic adopted the document at the III hearing.  

The reporter on this issue was Ulukbek Kochkorov, the Vice-chairman of the Committee of Jogorku Kenesh on economic and fiscal policy. In his speech, he noted that the aim of the draft law is the regulation of the activity of the national payment system in accordance with the state policy on the organization of the effective and efficient currency circulation. "The state policy in the field of regulation of the national payment system aims at providing full transparency and manageability of the movement of funds in the economics, creation of favorable competitive conditions in the market of payment services and conditions for the protection of the rights of end users, provision of security and reliability of work of the national payment system", - noted the MP. 

Adoption of the draft law will contribute to the implementation of the FATF recommendations on countering financing of terrorism by the Kyrgyz republic.  

The draft law "On the payment system of KR" envisages regulation of the relations in implementation of the payments, settlements and transfers of the monetary funds in the Kyrgyz Republic, establishment of general norms and rules in conducting payments in different forms, identification of the responsibility and obligations of the participants of the payment system, i.e. forms the legal and organizational framework of the payment system in KR.  

Earlier, after approval of the draft law by the Decree of the Government of the Kyrgyz republic № 396 as of June 11, 2012, some disagreements occurred with the business community. According to the results of the joint work between the NBKR and Association of legal entities "Association of operators of the payment system KG" on December 25, 2012 MOU was signed. Thus, all notes has been taken into account, the suggested MOU to the draft law takes into account the interests of the state as well as the business community, which allows to eliminate the ambiguity in handling the provisions of the draft law. The agreement on the replacement of the process of licensing for the registration/notification and certificate is achieved. The acceptance of payments is allowed for a limited spectrum of services upon provision of notification, upon provision of the certificate - acceptance of payments to the budget and settlement of trans-border payments as well as the services that are not in the notification list.  

Central banks of the EuroAsian Economic Community countries activate cooperation in the field payment system 

The National Bank of the Kyrgyz Republic received the representatives of regulatory agencies of Member States of EuroAsian Economic Community in Kyrgyzstan, arrived in Bishkek at the international seminar "The activities of central banks to monitor the payment (settlement) systems. Oversight of the payment system".  

The event with the participation of the representatives of the Central Bank of Russia, the National Bank of Kazakhstan, Tajikistan and Kyrgyzstan discussed the legislation in the area of payment systems in the Kyrgyz Republic and the Russian Federation, described the experience of central banks in the regulation of payment systems and payment instruments, including innovative technologies, particularly organization of the monitoring of the operation of payment systems and supervision of operators and non-banking institutions. 

During the two-day workshop, participants noted the similarity of the problems of regulation and control over the activity of the operators and payment organizations in all countries of the EurAsEC encountered regardless of the level of development of the electronic banking services market. 

Summing up the results of the international seminar, the experts stressed on its effectiveness and expressed the need to conduct such measures to help improve the quality of cooperation between States in the field of payment systems and the impact on the resolution of important public and economic problems. 

Licenses/certificates are issued to the following non-bank financial and credit institutions and currency exchange offices: 

· Individual entrepreneur A.V.Shaporenkpo, additional exchange office (License № 5082 as of June 28, 2013 for conducting exchange transactions in cash foreign currency), registration number № 3096. Legal address: 196, Ahunbaev Street, Bishkek. 

· LLC "Tynchtyl Plus" (License №5103 as of June 26, 2013for the right to conduct exchange transactions in cash foreign currency), registration number № 3095. Legal address: 155, Chui Prospect. 

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