Representatives of the National Bank participated in the VI International Conference and Exhibition COINS-2015
Officers of the Cash Management Department of the National Bank of the Kyrgyz Republic participated in the VI International Conference and Exhibition COINS-2015, which was held in Moscow on June 25-27, 2015.
Participants of the event were as follows: the Central Bank of Russia, the National Bank of the Republic of Belarus, the National Bank of the Republic of Kazakhstan, the Trans-Dniester Republican Bank, the Central Bank of the Republic of Armenia, the Perth Mint, Australia, the Mint of Poland, the Mints of Moscow and St. Petersburg - branches of the Federal State Unitary Enterprise "Goznak", the Mint of Austria, Czech Republic, Lithuania, as well as well-known distributors of coins: Resource Trade (Russia), Coin Invest Trust (Liechtenstein).
Key aspects and trends of the monetary market were discussed at the conference. Chief economist for the expert division of the Cash Management Department of the NBKR Medina Ashyralieva shared the experience of the National Bank of the Kyrgyz Republic in promoting collection coins of our country. Leading economist of the Cash Circulation Department of the Central Bank of the Russian Federation Yulia Pospelova presented current market of commemorative and investment coins of Russia. The leading artist of the National Bank of the Republic of Belarus Svetlana Nekrasova told about the coins devoted to the Great Patriotic War. Director of the division of technical production organization of the Mint of Poland Lukasz Card presented to the participants of the conference the three-dimensional coin "Seven new wonders of the world" of the series "Mysteries of the world" produced using innovative technology.
Medina Ashyralieva, chief economist for the expert division of the Cash Management Department of the National Bank of Kyrgyz Republic, noted that "VI International Conference and Exhibition COINS-2015 provided the participants with a rare opportunity to discuss issues related to the monetary market, share experience, demonstrate achievements and find new partners. The exhibition, being held within the framework of the conference, contributed to growth of interest in numismatics".
A traditional exhibition, where people could view and also buy their favorite coins, was held within the framework of the conference. The National Bank of the Kyrgyz Republic presented a hundred of silver collection coins of different series: "Red book of Kyrgyzstan", "Historical and architectural monuments of Kyrgyzstan", "Age of the Kyrgyz kaganat", "Historical events", etc. Collection coins of Kyrgyzstan enjoyed increased demand among visitors of the exhibition. All coins presented by the National Bank were sold upon completion of exhibition days.
FOR REFERENCE USE
COINS is the only one international forum devoted to the monetary market held in the territory of the Commonwealth of Independent States. Participants of such event are the central banks of various countries, mints, as well as distributors of commemorative coins.
The organizer of the forum, publishing house "Water Mark" (Russian Federation), is the founder and publisher of the magazine about coins for collections, investments and gifts "Zolotoi chervonets" ("Golden ten-ruble coin").
Administration of the National Bank and the commercial banks of the Kyrgyz Republic discussed the main trends in the development of banking sector of the country
A traditional banking round-table conference, organized by the National Bank of the Kyrgyz Republic together with the Union of Banks of Kyrgyzstan, was held in the Issyk-Kul region. The event was attended by the heads of commercial banks, President of the Union of Banks of Kyrgyzstan, as well as the administration of the National Bank of the Kyrgyz Republic represented of the Chairman and members of the Management Board.
In opening the ceremony, the Chairman of the NBKR T. Abdygulov noted that joint events held with market players are an essential step of the National Bank to strengthen the banking system, which is currently among the priority tasks for the regulator. "In this regard, said T. Abdygulov,-the most important for us is to improve the analysis of the financial status of banks and timely regulatory response. Moreover, efforts must be directed towards development of a regulatory framework with a view to enhancing and strengthening the banking sector, improving corporate governance principles and management culture in the banks".
T. Abdygulov emphasized that activities carried out by the National Bank on improvement of legislation are currently aimed at increasing the responsibility of managers and shareholders, improving the internal control system, providing the protection of the bank clients’ interests and enhancing capabilities of banks in all directions. Particular attention of the NBKR is paid to the measures aimed at developing microfinance institutions and increasing competition in the market of financial services.
In the course of this event the participants - heads of the commercial banks and the NBKR discussed topical issues and solutions to the major challenges, which the banking and microfinance sectors currently face. Moreover, they discussed issues associated with new monetary policy instruments, new rules for the payment systems operation and, of course, the market players being regulated by the NBKR.
Moreover, participants of the round-table conference raised the issues of providing the population with an access to financial resources, focused attention on the need to introduce new banking products and promote financial literacy among the population.
Summarizing the results of this meeting where more than 30 topical issues of the banking sector were discussed, the head of the NBKR thanked participants of the round-table conference for the constructive dialogue.
All joint decisions taken during this event will be reflected in the traditional resolution of the round-table conference, which the parties are planning to sign within the next two weeks.
FOR REFERENCE USE
The banking round-table conference is held annually by the NBKR together with "Union of Banks of Kyrgyzstan" ALE (Association of Legal Entities). The main objective of the event is to promote cooperation of the NBKR with the members of the Union of Banks of Kyrgyzstan and state bodies, as well as the search for joint solutions to the problems of the financial and banking sectors.
In accordance with the requirements of the Regulations "On Licensing of Payment Systems and Payment Organizations Operators" No. 58/9 approved by the resolution of the Board of the National Bank of the Kyrgyz Republic on December 24, 2014, 2 organizations were provided with licenses by the National Bank of the Kyrgyz Republic
On June 26, 2015, "EPAY" LLC received licenses for carrying out the following activities:
№ 2013260615 – for service rendering to the participants of the payment system, the processing, clearing center on receiving, processing and issuing financial information (processing, clearing) with regard to payments and settlements made by the third parties.
№ 3012260615 – for service rendering on receiving and conducting payments and settlements for goods and services that are not the result of such activities in favor of the third parties by means of payment systems based on information technologies, electronic means and ways of payments.
On June 26, 2015, "AsIsNur" LLC received licenses for carrying out the following activities:
№ 2014260615 – for service rendering to the participants of the payment system, the processing, clearing center on receiving, processing and issuing financial information (processing, clearing) with regard to payments and settlements made by the third parties.
№ 3013260615 – for service rendering on receiving and conducting payments and settlements for goods and services that are not the result of such activities in favor of the third parties by means of payment systems based on information technologies, electronic means and ways of payments.
The National Bank of the Kyrgyz Republic decided to keep the policy rate unchanged at 9.50 percent
On June 29, 2015 the Board of the National Bank of the Kyrgyz Republic decided to keep the policy rate unchanged at 9.50 percent.
Since the moment of previous decision of the Board of the National Bank on the policy rate, development of the situation in the external financial markets remains uncertain. The key factors determined inflation dynamics and economic growth remain the same.
Seasonal factor conditioned slowdown of inflation rate, which as of the middle of June in the current year made 4.8 percent (as of June 19) against 11.6 percent as of the beginning of the year.
High economic growth rates in January-May of 2015 (6.9 percent) were mainly driven by the expansion of production at the "Kumtor" gold-mining company. Without "Kumtor", the real GDP growth was 3.9 percent.
In view of forecasted dynamics of inflationary developments, the National Bank of the Kyrgyz Republic continues to monitor the situation in the national economy and will take appropriate measures of monetary policy consistent with statutory mandate. The monetary policy will be aimed at achieving and maintaining the inflation rate at the level of 5-7 percent in the medium term, which is determined by the Main directions of monetary policy guidelines of the National Bank of the Kyrgyz Republic for the medium term.
The next meeting of the Board of the National Bank of the Kyrgyz Republic on the monetary policy rate is scheduled for July 27, 2015.
Licenses have been issued to the following exchange offices:
1. "FOREX PLAZA" LLC (license № 5332 dated July 03, 2015 for carrying out foreign exchange operations in cash). Legal address: trading place № 29, Kiosk-5, Kojevennaya Street, Bishkek city.
2. "Continent Group" LLC (license № 5331 dated July 03, 2015 for carrying out foreign exchange operations in cash). Legal address: 144/2, Abdrakhmanov Street, Bishkek city.
3. "Veronika Ch.Company" LLC (license № 5330 dated July 03, 2015 for carrying out foreign exchange operations in cash). Legal address: 124, Kievskaya Street, Bishkek city.
4. "Halil-Ata" LLC (license № 5329 dated July 02, 2015 for carrying out foreign exchange operations in cash). Legal address: w/n, J. Bakiev Street, Jalal-Abad city, Jalal-Abad region (landmark: nearby "Mariam" footwear market, central market).
5. "Tolon-Ata" LLC (license № 5328 dated July 02, 2015 for carrying out foreign exchange operations in cash). Legal address: w/n, J. Bakiev Street, Jalal-Abad city, Jalal-Abad region (landmark: nearby "Mariam" footwear market, central market).
6. "Kanykey-Ch.G." LLC (license № 5327 dated July 02, 2015 for carrying out foreign exchange operations in cash). Legal address: w/n, J. Bakiev Street, Jalal-Abad city, Jalal-Abad region (landmark: nearby "Mariam" footwear market, central market).
7. "Bereke AAA" LLC (license № 5326 dated July 01, 2015 for carrying out foreign exchange operations in cash). Legal address: 163 a, Frunze Street, Sokuluk village, Chui region.
8. "Toshaliev MM" LLC (license № 5325 dated June 30, 2015 for carrying out foreign exchange operations in cash). Legal address: landmark – the first traffic lights, w/n, Isfairam Street, Uch-Korgon village, Kadamjaiskiy district, Batken region.
9. "Baisal-Karakol" LLC (license № 5324 dated June 29, 2015 for carrying out foreign exchange operations in cash). Legal address: intersection of Toktogul and Gorkiy Street, Karakol town, Issyk-Kul region.
10. "Dosmat LTD" LLC (license № 5323 dated June 29, 2015 for carrying out foreign exchange operations in cash). Legal address: 143, Alma-Atinskaya Street, Alamudun village, Alamudunskiy district, Chui region.
11. "Baikut and Co" LLC (license № 5322 dated June 29, 2015 for carrying out foreign exchange operations in cash). Legal address: 164/12, Moskovskaya Street, Bishkek city.
12. "ErBaimak" LLC (license № 5321 dated June 29, 2015 for carrying out foreign exchange operations in cash). Legal address: 292, Kurmanjan Datka Street, Bishkek city.
13. "Triumph Gold" LLC (license № 5320 dated June 29, 2015 for carrying out foreign exchange operations in cash). Legal address: 146, Abdrakhmanov Street, Bishkek city.
It should be noted that the letter of additional exchange office registration № 3319 has been issued to "NKA tri semerki" LLC on June 30, 2015. Legal address: 89, Lenin Street, Kant town.
