Deputy Chairman of the National Bank met with the representatives of the United States Department of the Treasury   

 Today on September 12, 2014, Mr Nurbek Zhenish, Deputy Chairman of the National Bank of the Kyrgyz Republic met the Regional Advisers of the U.S. Department of the Treasury Mr Carol Cohen and Mr Narek Sageryan. Representatives of the Economic Department of the National Bank of the Kyrgyz Republic, Political and Economic Section of the U.S. Embassy and Mission U.S. Agency for International Development in Kyrgyzstan took part in the meeting.   

During the meeting the parties discussed the current economic situation in the country, remittances from CIS and abroad, trade balance of the republican and monetary and credit policy of the National Bank of the Kyrgyz Republic.   

In conclusion, the parties expressed their willingness for the development of bilateral cooperation in future.  

Information on the EurAsEC seminar on "Regulation of the activities of non-bank financial institutions", September 2-4, 2014  

The National Bank of the Kyrgyz Republic held a seminar on the topic: "The regulation of non-bank financial institutions in the Kyrgyz Republic" in the period of September 2-4, 2014. Participants of the seminar were representatives of the central (national) banks of several of the EurAsEC States Members: the Republic of Belarus, the Russian Federation and the Republic of Tajikistan.  

The seminar presents the experience of the development of the microfinance sector of the Kyrgyz Republic, the legislative and regulatory framework to regulate their activities, approaches and the implementation of the supervision of microfinance organizations, credit unions, exchange offices, payment system operators. Presentations were made by employees of the National Bank, representatives of the Association of Microfinance Organizations of Kyrgyzstan, the Association of Credit Unions and Cooperatives of Kyrgyzstan, as well as of OJSC "Financial Company of Credit unions".   

The participants of the seminar also presented the experience of regulation and supervision in the EurAsEC states members, there were discussed the peculiarities of the legislation to regulate the activities of non-bank financial institutions. According to the results of the seminar on regulation of non-banking financial institutions, the participants acknowledged the usefulness of this exchange of experience taking into account the features of the legislation and regulatory framework of the national (central) banks of the EurAsEC States Members, decided to continue the exchange of experiences and recommended further improvements in regulation and supervision in regard to the best international practice.  

Licenses were issued to the following exchange offices: 

1) “Umar Company” LLC (License No. 5147 as of September 8, 2014 for exchange operations with cash foreign currency). Legal address: 150 Abdrahmanov Street, Bld., 26, Bishkek, the Kyrgyz Republic. 

2) “SilverKG” LLC (License No. 5148 as of September 11, 2014 for exchange operations with cash foreign currency). Legal address: 146 Adbrahmanov Street, office No. 1, Bishkek, the Kyrgyz Republic. 

Licenses of the following non-finance credit institutions were withdrawn: 

1) License of the exchange office of the individual entrepreneur Mahamatzhanov Adaham Mahmudzhanovich under No. 4843 as of February 13, 2012 for exchange operations with cash foreign currency was withdrawn. Legal address: Dostuk (customs post), Kyshtak, Karasuu rayon of Osh oblast. 

2) License of the exchange office of the individual entrepreneur Shopokov Zhangazy Tologonovich under No. 4824 as of December 29, 2011 for exchange operations with cash foreign currency was withdrawn. Legal address: 146 Abdrahmanov Street (“Silver” exchange office), Bishkek, the Kyrgyz Republic. 

3) License of the exchange office of the individual entrepreneur Hozhimova Salamat Sadykzhanovna under No. 5083 as of March 15, 2013 for exchange operations with cash foreign currency was withdrawn. Legal address: Dostuk (customs post No.3), Karasuu rayon of Osh oblast. 

4) License of the exchange office of the individual entrepreneur Kubidzhanov Habibilla Atazhanovich under No. 5022 as of July 20, 2012 for exchange operations with cash foreign currency was withdrawn. Legal address: 17 Katta Terek territory, Karasuu rayon, Kyzyl-Kyshtak, Osh oblast (customs post “Dostuk”). 

5) License of the exchange office of the individual entrepreneur Kurbanova Almahan Abdusalamovna under No. 4815 as of December 22, 2011 for exchange operations with cash foreign currency was withdrawn. Legal address: exchange office “Dostuk”, customs post “Dostuk”, Osh oblast. 

6) License of the exchange office of the individual entrepreneur Mahamadzhanov Ravshanbek Arabzhanovich under No. 4806 as of December 6, 2011 for exchange operations with cash foreign currency was withdrawn. Legal address: Kurmanzhan Datka No. 3, Osh city, Osh oblast (new bus station). 

Interbank payments