ь National Bank of the Kyrgyz Republic informs that in the course of consideration of the report on monetary-and-credit policy for the year of 2009, the NBKR Board noted that in the past year, due to weakening of the domestic consumer demand, related to retardation of the economic growth rates in the republic and at the background of the situation stabilization and shocks absence in external and internal commodity markets, there was retardation of inflation processes in the economy. Thus, in the year of 2009, in accordance with the National Statistics Committee, the inflation level was equal to zero (December 2009 against December 2008), whereas in 2008 this rate was 20.0 percent. Anti-inflationary measures, performed by the National Bank of the Kyrgyz Republic and Government of the Kyrgyz Republic, played certain role in stabilization of the price situation, among other general macro-economic tendencies in the country.
The Board members noted that the discount rate dynamics of the National Bank of the Kyrgyz Republic, which decreased from 15.2 to 0.9 percent (historically minimum level), corresponded with the tendency of inflation pressure weakening, and created conditions for decrease in interest rates of commercial banks; decrease in the standards for obligatory reserve requirements (from 10 to 9.5 percent) should become the background for increase in the credit potential of commercial banks in the conditions of the world financial and economic crisis influence.
It was noted that despite created favorable conditions for activity of commercial banks on the part of the National Bank of the Kyrgyz Republic, negative influence of the global crisis provided tightening of the commercial banks credit policy on the one hand and decrease in demand of economic agents on the other hand. As a result in the year of 2009, there was reduction of the commercial banks credit portfolio volume by 1.5 percent. At the same time, crediting of the economy increased on the part of non-banking financial-and-credit institutions; thus, their credit portfolio increased in 1.8 times. As a result in 2009, crediting of the economy on the part of financial sector increased by 16.7 percent. Growth of the commercial banks deposit base constituted 34.0 percent in the year of 2009. Thus, despite the world financial crisis, financial sector of the republic proved its stability.
The NBKR Board noted importance of activity of the LLC “Specialized Fund of Banks Refinancing” (Spetsializirovannyi Fond Refinansirovaniya Bankov), established in May 2009, for the purpose of financial assistance provision to the economy real sector as well as for replenishment of the credit resources potential at absence of the required growth of the banking system credit portfolio. In 2009, volume of the issued credits by the LLC “Specialized Fund of Banks Refinancing” to commercial banks constituted 1064.4 million soms.
Also in the course of discussion, the Board members paid special attention to equation of the state budget for the year of 2010. It was noted that this factor will be taken into consideration during implementation of the subsequent monetary-and-credit policy.
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. PE Asanaliev Kuttuubek Mukanbetazimovich (License No. 4315, dated March 26, 2010 for conducting cash foreign exchange transactions). Registration number of exchange office: 2468. Legal address: auto-market “Kudaibergen”, No. 54-6, Patrisa Lumumby Str., Bishkek;
2. PE Mambetova Nuruila (License No. 4314, dated March 26, 2010 for conducting cash foreign exchange transactions). Legal address: container No.10, passage No.0, Turatali market, Kara-Suu village, Osh oblast;
3. PE Junushalieva Mirgul Bolotbekovna (License No, 4313, dated March 26, 2010 for conducting cash foreign exchange transactions). Registration number of exchange office: 2467. Legal address: second floor, airport “Manas”, Bishkek;
4. PE Bykovskii Stanislav Vyacheslavovich (License No, 4312, dated March 26, 2010 for conducting cash foreign exchange transactions). Registration number of exchange office: 2466. Legal address: 86, Frunze Str., Sokuluk village, Chui oblast;
5. LLC "MCS Agency" (License No, 4311, dated March 26, 2010 for conducting cash foreign exchange transactions). Registration numbers of exchange offices: 2464, 2465. Legal addresses: 125 and 119 (correspondingly), Abdrahmanov Str., Bishkek;
6. PE Kasymaliev Orosbek Joldoshbekovich (License No, 4310, dated March 23, 2010 for conducting cash foreign exchange transactions). Registration number of exchange office: 2463. Legal address: Beishenaliev/Kievskaya Str., Bishkek;
7. PE Samakov Kanatbek Beishenalievich (License No, 4309, dated March 23, 2010 for conducting cash foreign exchange transactions). Registration number of exchange office: 2462. Legal address: 2-23, Den Syaopina Str., Bishkek;
8. PE Ismailov Nurlan Abyshovich (License No, 4308, dated March 23, 2010 for conducting cash foreign exchange transactions). Registration numbers of exchange offices: 2460, 2461. Legal addresses: Suerkulov/Yunusaliev Str., “Halal” and “Svyaznoi” pavilions (correspondingly), Bishkek;
9. PE Voronin Valerii Viktorovich (License No, 4307, dated March 23, 2010 for conducting cash foreign exchange transactions). Registration number of exchange office: 2459. Legal address: 23, Beishenaliev Str., Bishkek.
The National Bank of the Kyrgyz Republic revoked certificates/licenses from the following NBFI:
1. From March 18, 2010, certificates of accounting registration for micro-crediting of physical and legal entities were revoked/cancelled from the following micro-crediting agencies and micro-crediting companies:
Public Fund MCA “Vista”, certificate No.50, dated November 13, 2003, on the basis of Resolution of the Non-banking Supervision Department No.32, dated March 18, 2010; legal address: 186-73, Chui Avenue, Bishkek;
Public Association MCA “Rozmir”, certificate No.160, dated June 11, 2008, on the basis of Resolution of the Non-banking Supervision Department No.35, dated March 18, 2010; legal address: 52-60, Turusbekova Str., Bishkek;
LLC MCC “Aibeks Capital”, certificate No. 166, dated October 28, 2008, on the basis of Resolution of the Non-banking Supervision Department No.33, dated March 18, 2010; legal address: 65a, Timiryazeva Str., Bishkek;
LLC MCC “Kyrgyz Trust Capital”, certificate No. 161, dated October 08, 2008, on the basis of Resolution of the Non-banking Supervision Department No.34, dated March 18, 2010; legal address: 130-14, Toktogula Str./Togolok Moldo Str., Bishkek (6th floor);
LLC MCC “Ideal Credit”, certificate No. 113, dated February 28, 2008, on the basis of Resolution of the Non-banking Supervision Department No.36, dated March 18, 2010; legal address: 77, Kievskaya Str., Bishkek;
LLC MCC “Yldam Credit”, certificate No. 147, dated July 23, 2008, on the basis of Resolution of the Non-banking Supervision Department No.37, dated March 18, 2010; legal address: 4, Chui Avenue, Bishkek;
LLC MCC “MVR Credit”, certificate No. 189, dated February 11, 2009, on the basis of Resolution of the Non-banking Supervision Department No.38, dated March 18, 2010; legal address: 120, Tynystanova Str., Bishkek;
LLC MCC “Ak Muzo”, certificate No. 18, dated April 30, 2004 on the basis of Resolution of the Non-banking Supervision Department No.39, dated March 18, 2010; legal address: 89, Shopokov Str., Bishkek (5th floor, room - 17);
LLC MCC “Bereke Plus”, certificate No. 215, dated June 1, 2009, on the basis of Resolution of the Non-banking Supervision Department No.40, dated March 18, 2010; legal address: 1, Kojevennaya Str., Bishkek;
LLC MCC “Astra Company”, certificate No. 174, dated November 19, 2008 on the basis of Resolution of the Non-banking Supervision Department No.42, dated March 18, 2010; legal address: office No.4, Oberon market, Bishkek;
LLC MCC “Mirgel”, certificate No. 210, dated May 14, 2009 on the basis of Resolution of the Non-banking Supervision Department No.43, dated March 18, 2010; legal address: private market “Erkin”, Tsentralnaya Str., Kara-Balta city, Chui oblast;
LLC MCC “Zodiac Gold”, certificate No. 211, dated May 22, 2008 on the basis of Resolution of the Non-banking Supervision Department No.44, dated March 18, 2010; legal address: 7-19, Gorodok Energetikov, Lebedinovka village, Alamudun rayon, Chui oblast.
ь The Bank of England recalls the banknote with the nominal value equal to 20 pounds sterling with image of Sir Elgar from circulation.
Banknote with the nominal value of 20 pounds sterling with image of Sir Edward Elgar (on the reverse side), issued in the year of 1999, will be recalled from circulation on June 30, 2010. Banknote with the nominal value of 20 pounds sterling with image of Adam Smith, issued in March 2007, will still be in circulation.
From June 30, 2010, banknotes with the image of Sir Edward Elgar will be exchanged by commercial financial structures in their discretion. However all banknotes, recalled from circulation, will be exchanged in the Bank of England, London (on termless basis).
Inter-bank payments
|
Indices of Interbank payment systems (IPS) |
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|
|
Total IPS |
including |
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|
Clearing system |
Gross system |
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|
KGS mln |
items |
KGS mln |
items |
KGS mln |
items |
|
|
Indices from the period of March 22, 2010 – March 27, 2010 (reporting period) |
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|
Absolute value for a week |
7 279,6 |
41 873 |
819,1 |
40 259 |
6 460,5 |
1 614 |
|
Share of IPS payments (%) |
100,0 |
100,0 |
11,3 |
96,1 |
88,7 |
3,9 |
|
including (%): |
|
|
|
|
|
|
|
Net positions of Common Interbank Processing Center |
0,2 |
0,6 |
1,7 |
0,6 |
0,0 |
0,0 |
|
Outgoing to the Central Treasurer's Office |
14,9 |
5,1 |
13,5 |
5,2 |
15,1 |
1,6 |
|
Incoming from the Central Treasurer's Office |
16,5 |
68,3 |
25,6 |
71,0 |
15,3 |
2,5 |
|
Outgoing to the Social Fund |
0,01 |
0,1 |
0,1 |
0,1 |
0,0 |
0,0 |
|
Incoming from the Social Fund |
0,2 |
3,0 |
2,0 |
3,1 |
0,0 |
0,0 |
|
Average weekly indices for the previous month |
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|
Absolute Value |
6 917,8 |
47 994 |
982,7 |
46 040 |
5 935,1 |
1 954 |
|
Indexes deviations of the reporting period from the weekly average indexes of the previous month |
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|
Absolute Value |
361,8 |
-6 121 |
-163,6 |
-5 781 |
525,4 |
-340 |
|
% |
5,2 |
-12,8 |
-16,6 |
-12,6 |
8,9 |
-17,4 |
Indices of “Elcart” system*
|
As of |
March 19, 2010 |
March 26, 2010 |
|
Number of cards in circulation (exclusive of the re-issued cards) |
89 112 |
89 712 |
|
Number of pos-terminals:
- in banks - in trade centers |
508
415 93 |
510
417 93 |
|
Number of terminals: Master of payments |
57 |
57 |
|
Number of automated teller machines |
158 |
158 |
* According to CJSC “Interbank processing center”, 16 commercial banks out to 22 are connected to it.