Delegation of the People’s Bank of China, Urumchi branch office, visited the National Bank of the Kyrgyz Republic
Delegation headed by Guo Jianwei, the President of the Urumchi central branch office of the People’s Bank of China, arrived in Bishkek to held negotiations with the administration of the National Bank of the Kyrgyz Republic, as well as meetings with the representatives of commercial banks operating in the republic.
The delegation was also represented by Zhou Chengjun - Deputy Director General of Monetary Policy Department II of the People's Bank of China, Yin Hang - representative of the Monetary Policy Department of the People's Bank of China, Xing Hui - Director of Administrative Division of the Urumqi central branch office of the People's Bank of China, Zhang Guoxin -Deputy Director of Division for accounts in Yuan during cross-border trade and investment of the Urumqi central branch office of the People's Bank of China.
The delegation from China visited the republic to prepare for signing the Memorandum between the NBKR and the PBC, which provides for conclusion of the Agreements on currency SWAP between the central banks of the Kyrgyz Republic and China, carrying out payment transactions, settlements and implementation of direct Som-Yuan currency exchange and information sharing.
According to the Urumqi central branch office of the PBC, the Chinese side, among other issues, proposes to expand the current Agreement on payments and settlements, signed by the National Bank of the Kyrgyz Republic and the People's Bank of China in 2003, from border trade settlements to trade between two countries in general, as well as to investment cooperation.
Tolkunbek Abdygulov, the NBKR Chairman, said at the meeting with Guo Jianwei, the President of the Urumqi central branch office of the People's Bank of China, that the proposals of the Chinese side were already considered and analyzed by experts from the National Bank of the Kyrgyz Republic. “Much work shall be done to address a number of issues, among which consideration of the opportunities for investment of Yuans by the NBKR in the financial instruments denominated in the Chinese currency, the NBKR presence in the financial market of China, presence of commercial banks in the Chinese market, as well as opening their branches in PRC”, told T. Abdygulov.
In the course of the visit, the PBC delegates met with the Deputy Chairman B. Jeenbaeva and N. Jenish and heads of key departments of the NBKR, and also conducted negotiations with representatives of the country's banking sector.
Among the issues raised during the meeting, there were as follows: determination of rules for Yuan trading between the National Bank of the Kyrgyz Republic and commercial banks of the country, arrangement of settlements in Yuans and Soms between the NBKR and the PBC, the commercial banks of China and the Kyrgyz Republic, and etc.
Licenses/certificates have been issued to the following NBFIs and exchange offices:
1. “AIM Credit” MFC CJSC (license № 008 dated September 08, 2015 for carrying out independent banking operations in national currency). Address: office 4, bldg. 28, Togolok Moldo Street, Bishkek city.
2. “Rakhat plus” LLC (license № 5369 dated October 09, 2015 for carrying out foreign exchange operations in cash). Registration number of exchange office is 3350. Address: 2/1, Den Syaopin Avenue, Bishkek city.
Licenses/certificates of the following NBFIs and exchange offices have been cancelled/revoked:
1. “AIM Credit” MCC CJSC (certificate of micro-crediting company accounting registration №449 dated April 04, 2012) due to transformation into “AIM Credit” MFC CJSC (license № 008 dated September 08, 2015).
2. Rasul Gadjievich Abasov IE (license № 5047 dated September 09, 2012) for carrying out foreign exchange operations in cash due to license expiry. Address: 125-31, Chui Avenue, Bishkek city.