The following issues were considered and appropriate resolutions were approved at the meeting held by the Board of the National Bank of the Kyrgyz Republic on October 14, 2015:  

· Resolution of the Board of the National Bank of the Kyrgyz Republic № 62/1 dated October 14, 2015 "On introduction of amendments and additions into certain resolutions of the National Bank of the Kyrgyz Republic";  

· Resolution of the Board of the National Bank of the Kyrgyz Republic № 62/2 dated October 14, 2015 "On introduction of amendments and additions into Resolution of the National Bank of the Kyrgyz Republic "On some regulatory acts of the National Bank of the Kyrgyz Republic" №19/4 dated June 28, 2006";  

· Resolution of the Board of the National Bank of the Kyrgyz Republic № 62/3 dated October 14, 2015 "On introduction of amendments and additions into Resolution of the National Bank of the Kyrgyz Republic "On some regulatory legal acts of the National Bank of the Kyrgyz Republic" №51/6 dated December 28, 2009";  

· Resolution of the Board of the National Bank of the Kyrgyz Republic № 62/4 dated October 14, 2015 "On introduction of amendments and additions into Resolution of the National Bank of the Kyrgyz Republic". 

Cash turnover situation in the Kyrgyz Republic in the 3st quarter of 2015 

Total amount of active money as of Oktober 1, 2015 constituted 58 430.6 million soms; 4 312.2 million soms out of the sum belonged to cash departments of commercial banks, the rest belonged to the extra-bank system (in comparison with the corresponding period of the past year this sum increased by 6.5 percent which is decreased to 4 097.4 million soms). 

In the 3st quarter of 2015, 276 571.2 million soms entered the cash departments of commercial banks. In comparison with the 3st quarter of 2014, this sum increased by 0.3 percent which is decreased to 877.2 million soms.  

In the 3rd quarter of 2015, 279 744.6 million soms were paid from the cash departments of commercial banks. In comparison with the 3st quarter of 2014, this sum increased by 1.6 percent which is equal to 4 415.1 million soms.  

In the 3st quarter of 2015, cash repayment to the cash departments of commercial banks constituted 98.9 percent (in comparison with the corresponding period of 2014, this index decreased by 1.9 percentage points). 

Change of cash repayment to the cash departments of commercial banks in the 3rd quarter of 2015 in the sectional view of oblasts is presented in the table No.1: 

Table No. 1 (given in percentage) 

"Savings Week" project is launched in the capital of Kyrgyzstan 

The National Bank of the Kyrgyz Republic in cooperation with the German Savings Banks Fund launched a pilot project in Bishkek city – Savings Week aimed at improving the financial literacy of pupils.  

Lectures are held in four secondary schools of the capital within the framework of the project. In the course of these lectures experienced trainers from Germany, experts Matias Vangler and Eduard Schmidt will tell pupils of the upper forms and their teachers how to save money and how it is important and necessary to save money. "Savings Week" project was launched on October 16 till and it will last till October 30. This project is dedicated to the World Savings Day, which is celebrated on October 30.  

German specialists first visited secondary school № 38 of the capital. Welcoming speech of the expert Matias Vangler was devoted to the objectives of this event. "The objective of our project is to bring the correct information about how to save money and to accumulate money in banks. We will tell the children about money and economy, about money circulation in the family budget in general and at the country level. We want children to know how to save money from an early age. This event is supported by the National Bank of the Kyrgyz Republic", Matias Vangler said and wished the children academic excellence.  

Opening lecture, a senior inspector of the External Supervision Division of the NBKR Jamila Tokmambetova told the pupils that such project is held in Kyrgyzstan for the first time. "I would like to congratulate all of you with this event, because such seminars are held in our country for the first time. The Department of Education of Bishkek city selected four secondary schools of the capital for the pilot project. Experts with extensive experience and knowledge in this area will deliver this training for you. I hope that each of you will receive as much information as possible and it will substantially change your vision of money and how you should save it. I would like to note that the National Bank is among the developers of the program for improving the financial literacy of the population, and in the near future the course on financial literacy will be taught in schools. Moreover, the National Bank issued a special monetary alphabet and it is in your school library either", Jamila Tokmambetova told in her welcoming speech.  

When the lecture ended, the pupils shared their impressions.  

Diana, a pupil of the 11th form, told that in the future she would like to do a business, and knowledge which she received today would be helpful for her in money saving. "I want to enter medical university to become a pharmacist and open my own company afterwards. My parents tell me about savings, but the information which I received today, of course, broader and more useful", Diana told.  

Sadyk, a pupil of the 11th form, is going to enter flight school and become a professional pilot. "Yes, my activities will not be linked to the economy, but I should know how to save money. The more you save, the more money you will have. I admit that now I have not enough willpower to save KGS 100 every day. But I'm young, and I should enjoy every day, therefore I need more money to spend", the upper-form pupil said.  

Samat, a pupil of the 11th form, noted that he liked this training and shared his plans for the future. "Everyone wants to be a millionaire, everyone wants to be successful, independent. I guess dreams come true; the main thing is to go toward your goal. I want to enter the Academy of the Ministry of Internal Affairs and I want to engage myself with enforcement of public order. However, I also plan to open my own business in the future. I did not save money earlier, but tried to do it. Parents give me KGS 200 for pocket expenses every day, about KGS 50 remain. If I collect this money, I will save a significant amount – KGS 18 thousand at the end of the year", Samat calculated in mind.  

Trainer Eduard Schmidt, who is fluent in Russian, explained after the lecture that he had accumulated vast experience in carrying out such activities. "I’ve been working in this area for quite a long time, 15 years. In Azerbaijan, I have German-Azerbaijani investment fund that provides loans to small and medium-sized enterprises. We made savings in various countries, including Ukraine. We bring information about savings to people because the population is almost not familiar with this information. I would like to note that people know little about it in Germany either. Our work in Kyrgyzstan has only just started. We will visit several schools of Bishkek within a week. We are planning an extensive program next year. It will involve a large number of people who will deliver similar training sessions in all regions of Kyrgyzstan", Eduard Schmidt shared his plans for the future.  

It should be noted that within the framework of the Savings Week lectures will be delivered to more than 800 pupils and specialists in commercial banks intend to give consultations to approximately 300 citizens of Kyrgyzstan.  

NBKR started to render service to individuals and legal entities for storage of refined small gold bars weighing from 31.1035 and 100 grams  

For the effective development of the market of banking precious metals and ensuring their safety and security, the National Bank of the Kyrgyz Republic introduces a new service, which consists in storing small gold bars purchased by the citizens.  

Small gold bars for storage shall be taken by the Central working cash department of the National Bank at the address: 101, Umetaliev Str., Bishkek city, and working cash department of Osh regional department of the National Bank at the address: 119, Kurmanjan Datka Str., Osh city.  

The service is rendered by the National Bank on a fee paid basis only for small gold bars weighing 31.1035 and 100 grams, issued by the National Bank. To provide this service the National Bank and a client enter into an agreement on storage of small gold bars based on an identity document. When receiving small bars for storage the National Bank conducts mandatory examination on identification of the precious metal authenticity.  

Detailed information on receiving and issuing refined small gold bars is posted on the official website of the National Bank on the following link: http://www.nbkr.kg/index1.jsp?item=2772&lang=RUS 

The National Bank of the Kyrgyz Republic informs that the following draft laws of the Kyrgyz Republic are posted on the official website of the National Bank for public comment in the section "Banking legislation/Draft laws for discussion": 

- Draft law "On introduction of additions and amendments into the Tax Code of the Kyrgyz Republic";  

- Draft law "On introduction of amendments into the Code of the Kyrgyz Republic on administrative responsibility".  

Comments and suggestions to the aforementioned draft laws should be forwarded by the deadline set by Article 23 of the Law "On regulatory legal acts of the Kyrgyz Republic" to the following e-mail addresses: ajorobekova@nbkr.kg and ktemirov@nbkr.kg.  

The National Bank held a training seminar for journalists "Monetary policy issues: theory and practice"  

The training was attended by more than 20 representatives of the best newspapers, news agencies, TV channels and radio stations in Bishkek and Kyrgyzstan.  

The NBKR experts provided detailed information about the regulator activity aimed at achieving and maintaining price stability. 

"The subject of monetary policy is rather difficult to understand by people, who are not familiar with the economy. We will try to tell about it so that you could use obtained knowledge in further work", Nurbek Jenish, Deputy Chairman of the National Bank, said addressing the journalists with welcoming speech.  

Seilbek Urustemov, head of the Economic Department delivered a series of lectures on the theme "Central bank: the goal, objectives, independence" and "Inflation: causes, consequences and how to deal with it".  

Nasiba Imaralieva, head of Monetary Policy Division, Economic Department held a presentation on the theme "Monetary policy: key concepts", and Kubanychbek Kudabaev, chief of Balance of Payment & External Debt Division, Financial Statistics and Review Department told about the balance of payments and the exchange rate.  

During the seminar, journalists had the opportunity to ask questions on subjects they were interested in and to talk with the experts of the National Bank in an informal setting. Upon completion, participants received certificates of completion of the training seminar.  

Journalists, in sharing their impressions of the event, noted the urgency of the issues raised at the seminar and understandable way the lecturers delivered complex information.  

Bakyt Tolkanov, a correspondent of "KirTAG IIA: "I cannot say that the themes of the seminar were completely unknown to me, I knew, read or heard of some points, generally, I dealt with them. However, and this is the most important thing, the training systematized knowledge and brought together fragmented information. I think such seminars are mutually advantageous: journalists receive new knowledge, and the National Bank has an opportunity to talk with mass media the same language".  

Tatiana Kudriavtseva, a correspondent of "24. kg" IA: "Seminar was certainly useful both for those journalists who are just starting to write on economy, and for those who are engaged in this area for several years. We were able to learn about the basic principles of monetary policy and ask questions we were interested in. Information on the bases of the balance of payments was absolutely new for me. Now, in preparing materials, I can operate with submitted figures better and draw independent conclusions on financial relations of the Kyrgyz Republic on the global arena, what are the results of regular loans of the government and what are the purposes for allocation thereof".  

Tatyana Batiarkina, a correspondent of "MIR" ITRC: "Seminar din not take much time, provided some new knowledge and broadened overall vision of the economic situation in the country. Often, the messages on economic issues are just piling of numbers and charts. It is difficult for journalists and citizens to understand how all these decisions affect or only will affect our lives. Now, everything is clear. The main thing is that we managed to understand how everything is interconnected". 

Christina Ahrameeva, a correspondent of "Arguments and facts. Kyrgyzstan" newspaper: "Being a journalist who does not specializes in the field of economy, I don't often write on economic issues. Sometimes it is lack of confidence in my own knowledge and competence in particular issue. Seminar for mass media representatives "Monetary policy issues: theory and practice" helped to broaden knowledge considerably and to clarify many points that were previously unclear or neglected. Moreover, some abstracts, voiced by the NBKR specialists, inspired by new ideas and topics for articles".  

Information on the "Savings Week" campaign, which is organized within the joint pilot project with German Savings Banks Fund is posted on the website www.finsabat.kg.  

Licenses/certificates have been issued to the following NBFIs and exchange offices: 

1. "Limon LTD" LLC (license № 5384 dated October 21, 2015 for carrying out foreign exchange operations in cash). Registration number of exchange office is 3359. Address: container № 17 А/B, central passage, "Dordoi" shopping and entertainment center, Bishkek city. 

2. "Tilek UT" LLC (license № 5383 dated October 21, 2015 for carrying out foreign exchange operations in cash). Registration number of exchange office is 3358. Address: container № 43, staryi sever (old north), "Alkan" shopping and entertainment center, Bishkek city.  

3. "MOL TOKMOK" CU FC (license № 556 dated October 20, 2015 for lending to participants of credit union). Address: 14, Sovetskaya Str., Tokmok town, Chui region.  

4. "Chui Aliance" CU FC (license № 557 dated October 23, 2015 for lending to participants of credit union). Address: 187-77, Sovetskaya Str., Tokmok town, Chui region.  

Licenses/certificates of the following NBFIs and exchange offices have been cancelled/revoked: 

1. "Asida" CU (license № 329 dated February 14, 2002 was revoked due to self-liquidation). Address: "Ak-Tilek" market, Karakol town, Issyk-Kul region. 

2. "Gulnara Erkinovna Burkanova" IE (license № 5061 dated October 23, 2012 for carrying out foreign exchange operations in cash was revoked due to license expiry). Address: № 3, passage 0, "Turatali" market, Kara-Suu town, Osh region.  

"Akjalgasyn" MCC LLC (certificate № 456 dated May 10, 2012 due to self-liquidation). Address: 1, Zavodskaya Str., Kyzyl-Suu village, Jeti-Oguzskiy district, Issyk-Kul region.