Eurasian Economic Union
The representatives of the National Bank are regularly involved in the activities of the following committees and working groups within the framework of the Kyrgyz Republic membership in the Eurasian Economic Union (hereinafter referred to as the EAEU):
1. Consultative Committee for Macroeconomic Policy
The National Bank Representatives are involved in development of the main guidelines for macroeconomic policy of the EAEU member states, strategic directions for development of the Eurasian economic integration until 2025, the procedure to coordinate the interval quantitative values of the external parameters used to prepare official forecasts of the social and economic development in the EAEU member states.
2. Consultative Committee for Financial Markets
The following working groups are operating within the framework of this Committee:
- On harmonization of the EAEU member states legislation in the financial sphere
The National Bank takes part in development of the harmonization plan to bring closer the legislative requirements in the banking sector, insurance sector, and in the securities market sector by 2025.
- on the issues of currency control and currency regulation
The National Bank is involved in development of the draft Agreement on coordinated approaches to regulate the foreign exchange legal relations and to adopt liberalization measures
- on the issue to organize interaction between the EAEU member states on exchange of the information being part of credit records
The National Bank is involved in development of a draft Agreement on interaction between the EAEU member states on exchange of the information included in credit records.
3. Consultative Committee for Statistics
Work is being done in the field of financial, monetary statistics, as well as statistics of the foreign and mutual trade and statistics of the external sector.
4. Working Group on Coordination of National Payment Systems
Work is held to develop cooperation in the following areas:
- National payment card systems;
- Implementation of ISO 20022 standard;
- Transfer of financial messages and settlements;
- Development of financial technologies;
- Fast Payments System.