Creation date: 2010-02-03

ь On January 30, 2010, regular meeting of the Board of the National Bank of the Kyrgyz Republic was arranged. In the course of this meeting the following issues were considered and corresponding resolutions were accepted:  

On approval of the Provision “On obligatory reserve requirements of micro-financial organizations, performing acceptance of deposits” (No.1/1); 

On introduction of changes and amendments to the Policy of Banks Refinancing LLC “Spetzializirovannyi Fond Refinansirovaniya Bankov” (Specialized Fund of Banks Refinancing) (No.1/6); 

 

 

ь Official visit of Mrs. Darlena Tartari Shvegler, Counselor of the Executive Director of the International Monetary Fund, to the Kyrgyz Republic was arranged from January 27 to February 2, 2010. Within the course of the meeting with the Chairman of the National Bank of the Kyrgyz Republic, the issues, related to economic policy, performed in the Kyrgyz Republic, as well as macro-economic situation, problems of economic growth and financial stability and questions of the monetary-and-credit policy implementation in the conditions of the global financial crisis influence were considered, 

Moreover the meetings of the Counselor of the Executive Director of the International Monetary Fund with administration of the Central Agency on Development, Investments and Innovations of the Kyrgyz Republic and the Ministry of Economic Development of the Kyrgyz Republic, were arranged. In the course of these meetings, the issues related to cooperation of the International Monetary Fund within the framework of implementation of the financing program for external shocks forcing (ESF) and perspectives of the Kyrgyz Republic economy development were considered.  

 

 

ь On January 29, 2010, Marat Ormonbekovich Alapaev, the Chairman of the National Bank of the Kyrgyz Republic, delivered a lecture on the topic “Influence of the world financial crisis on the monetary-and-credit policy of the Kyrgyz Republic” in the American University in the Central Asia (AUCA). 

Marat Alapaev told about channels for the world economic crisis influence on the economy of the Kyrgyz Republic and about the measures, taken by the National Bank of the Kyrgyz Republic in the sphere of monetary-and-credit policy for the purpose of elimination of the crisis influence on the national economy. The Chairman of the National Bank of the Kyrgyz Republic also highlighted the target orienting points of the monetary-and-credit policy for the year of 2010.  

 

 

ь About state of the cash turnover in the Kyrgyz Republic for the fourth quarter of 2009. 

As of January 1, 2010, the overall sum of money in circulation constituted 35 738.7 million soms. Among them 1 818.3 million soms were in cash departments of commercial banks, the rest of money was out of the banking system (in comparison with the corresponding period of the past year, the increase constituted 4 935.4 million soms or 16.0 percent).  

In the fourth quarter of 2009, cash departments of commercial banks received 69 805.2 million soms, that is 3 201.2 million soms or 4.8 percent higher in comparison with the fourth quarter of 2008.  

In the fourth quarter of 2009, cash departments of commercial banks issued 74 052.9 million soms, that is 7 364.1 or 11.0 percent higher in comparison with the fourth quarter of 2008.  

In the fourth quarter of 2009, cash payback to cash departments of commercial banks constituted 94.3 percent (decrease by 5.6 percentage points in comparison with the corresponding index of the fourth quarter of 2008). 

Dynamics of cash payback to cash departments of commercial banks for the fourth quarter of 2009 in the view of oblasts is presented in the Table 1. 

 

                                                                                                                                                        In percent 

 

2008  

2009  

Deviation 

 

Over the republic  

 

99,9 

 

94,3 

 

-5,6 

Bishkek 

105,8 

103,1 

-2,7 

Batken oblast 

54,5 

57,8 

3,3 

Jalalabat oblast 

72,5 

77,9 

5,4 

Issyk-Kul oblast 

81,0 

71,7 

-9,3 

Naryn oblast 

72,3 

56,2 

-16,1 

Osh oblast  

57,3 

58,0 

0,7 

Osh city 

131,9 

107,2 

-24,7 

Talas oblast 

60,0 

56,6 

-3,4 

Chui oblast  

94,8 

100,5 

5,7 

 

 

ь The National Bank of the Kyrgyz Republic informs that on February 1, 2010, the resolution of the Committee of Monetary and Credit Regulation of the National Bank of the Kyrgyz Republic established the basic rate for the crediting purposes of the LLC “Spetzializirovannyi Fond Refinansirovaniya Bankov” (Specialized Fund of Banks Refinancing). For February this rate remained unchanged at the level of 8.0 percent.  

 

 

News of non-banking financial and credit institutions 

 

The National Bank of the Kyrgyz Republic issued licenses/certificates to the following non-banking financial institutions and exchange offices: 

1. LLC MCC “Baisan-UMN” (certificate on accounting registration №266 dated January 30, 2010, for micro-crediting of legal entities and individuals). Legal address: 25b, Novo-Pokrovskaya Str., Chui village, Chui rayon, Chui oblast; 

2. LLC MCC “Great Wall” (certificate on accounting registration №265 dated January 26, 2010, for micro-crediting of legal entities and individuals). Legal address: 194-14, Chui Avenue, Bishkek; 

3. PE Djusupbaeva Aichurek Japarovna (License No. 4249 dated January 27, 2010, for conducting cash foreign exchange transactions). Legal address: exchange office No.1, Turatali market, Kara-Suu village, Osh oblast; 

4. PE Maripov Yusuphan Torojanovich (License No. 4248 dated January 27, 2010, for conducting cash foreign exchange transactions). Legal address: Lenina Str., Turatali market, Kara-Suu village, Osh oblast; 

5. PE Yushta Tamara Nikolaevna (License No. 4247 dated January 26, 2010 for conducting cash foreign exchange transactions). Registration number of the exchange office: 2411. Legal address: 164/13, Moskovskaya Str., Bishkek; 

6. PE Hajikulov Mahamatjon Abduvahabovich (License No. 4246 dated January 25, 2010, for conducting cash foreign exchange transactions). Legal address: passage No.1, room 6, central market, Kochkor Ata village, Jalalabat oblast (entrance from the southern part). 

 

The National Bank of the Kyrgyz Republic revoked certificates/licenses from the following non-financing credit institutions: 

 

1. License No. 536 of the Credit Union “ZEER”, dated January 29, 2010 has been cancelled from January 1, 2010, on the basis of minutes of the general meeting of founders on self-liquidating, dated January 11, 2010. Legal address: 15/4, Shota Rustaveli Str., Osh, Osh oblast; 

2. License No. 4117, dated August 3, 2009 for performance of the exchange transactions with foreign currency has been revoked from the PE Joloman uulu Mirbek from January 27, 2010 on the basis of the Resolution No.3-0, dated January 27, 2010, due to breach of the NBKR regulatory and legal acts requirements. Legal address: central passage, Trade Center Dordoi, Bishkek. 

 

 

ь The Central Bank of Turkmenistan officially informs about withdrawal of the following banknotes from circulation: banknotes with the nominal value of 1, 5, 10, 20, 50, 100 and 500 manats of the 1993 issuance standard; banknotes with the nominal value of 1000 manats of the 1995 issuance standard; banknotes with the nominal value of 5000 and 10 000 manats of the 1996 issuance standard; banknotes with the nominal value of 10 000 of the 1999 issuance standard; banknotes with the nominal value of 10 000 of the 2003 issuance standard; banknotes with the nominal value of 50, 100, 500, 1500 and 10 000 manats of the 2005 issuance standard. 

Since January 2010, the above-mentioned banknotes have officially become non-payment instruments; however they will be exchanged by the Central Bank of Turkmenistan until December 31, 2010.  

 

ь The Central Bank of the Republic of Turkey officially informs about withdrawal of the following banknotes from circulation: banknotes with the nominal value of 1, 5, 10, 20, 50 and 100 new liras of the 2005 issuance standard. Since January 2010, the above-mentioned banknotes have officially become non-payment instruments; however they will be exchanged by the Central Bank of the Republic of Turkey until December 31, 2010. 

 

Inter-bank payments 

 

Indices of Interbank payment systems (IPS) 

  

Total IPS 

including 

Clearing system 

Gross system 

KGS mln 

items 

KGS mln 

items 

KGS mln 

items 

Indices from the period of January 25, 2010 – January 30, 2010 (reporting period) 

Absolute value for a week  

11 218,1 

51 324 

1 137,7 

48 946 

10 080,4 

2 378 

Share of IPS payments (%) 

100,0 

100,0 

10,1 

95,4 

89,9 

4,6 

including (%): 

 

 

 

 

 

 

Net positions of Common Interbank Processing Center 

0,1 

0,7 

1,1 

0,8 

0,0 

0,0 

Outgoing to the Central Treasurer's Office 

22,9 

4,4 

10,9 

4,5 

24,2 

3,6 

Incoming from the Central Treasurer's Office 

24,3 

62,8 

22,7 

65,7 

24,5 

2,7 

Outgoing to the Social Fund 

0,01 

0,1 

0,1 

0,1 

0,0 

0,0 

Incoming from the Social Fund 

0,4 

4,0 

4,2 

4,2 

0,0 

0,0 

Average weekly indices for the previous month 

Absolute Value 

11 629,6 

75 698 

1 414,1 

72 424 

10 215,5 

3 274 

Indexes deviations of the reporting period from the weekly average indexes of the previous month  

Absolute Value 

-411,4 

-24 374 

-276,4 

-23 478 

-135,0 

-896 

% 

-3,5 

-32,2 

-19,5 

-32,4 

-1,3 

-27,4 

 

Indices of “Elcart” system* 

 

As of 

January 23, 2010  

January 30, 2010 

Number of cards in circulation (exclusive of the re-issued cards) 

82 490 

83 839 

Number of pos-terminals: 

 

- in banks  

- in trade centers 

510 

 

417 

93 

510 

 

417 

93 

Number of automated teller machines 

154 

154 

 

* According to CJSC “Interbank processing center”, 16 commercial banks out to 22 are connected to it.