ь The National Bank of the Kyrgyz Republic informs that on September 21, 2010, Management of the National Bank met with borrowers of commercial banks of the republic. The meeting was focused on restructuring of the borrowers loans; in particular borrowers of commercial banks raised the questions, related to refinancing of problem/distressed debts. 

During the meeting, the National Bank asked commercial banks to consider the situation with borrowers on an individual basis, taking into account each specific case. Due to the fact that the questions are of bilateral relations nature, the National Bank recommended commercial banks to offer mutually acceptable terms to address the issue of debt. In case of disagreement on the part of borrowers with the proposed way for solution of the situation arising out of debt, consideration of disputes should be transferred to the court. 



ь On 21 September, 2010, the National Bank of the Kyrgyz Republic in cooperation with the Association of Legal Entities "Union of Banks of Kyrgyzstan” organized annual round-table discussion with heads of commercial banks. 

Zheenbaeva Baktygul Zhanybekovna, Acting Chairman of the National Bank of Kyrgyz Republic, and Abdraev Anvar Karikeevich, President of the Association of Legal Entities "Union of Banks of Kyrgyzstan” performed opening speech for participants of the round-table.  

In the course of the round-table, the issues, related to access of commercial banks to assets of the Special Fund for Banks Refinancing for the purposes of micro-crediting of the population in regions, suffered during events of June 2010 were discussed. Other issues discussed were: provision of the crediting right for cash departments as well as other important questions, affecting the banking sphere in general. Joint work within the framework of round-table traditionally unites representatives of the National Bank of the Kyrgyz Republic and commercial banks for further development of the banking sector.  



ь On September 22, 2010, the meeting of Administration of the National Bank of Kyrgyz Republic was arranged with the Acting Director of USAID Mission in the Kyrgyz Republic, Mr. Carey Gordon, and economic adviser to the Political and Economic Section of the U.S. embassy in the Kyrgyz Republic, Mr. Michael Layton. In the course of the visit, the parties discussed issues of cooperation, exchange of opinions between the parties concerning implementation of projects and programs, aimed at increasing economic growth in the Kyrgyz Republic and stabilization of the banking system. It was marked that there is still underdevelopment of insurance, leasing and mortgage lending markets in Kyrgyzstan. The parties agreed to perform activities on these directions. 



ь Due to appeal of "creditors" of the OJSC "AUB", distributed by the information agency "24.kg", the National Bank of the Kyrgyz Republic informs the following.  

In accordance with Article 2 of the Law "On conservation, liquidation and bankruptcy of banks”, creditor is any person, including depositor, who has the right to require the bank fulfill the obligations of any kind, including Kyrgyz and foreign legal entities and individuals. 

Concerning the individuals who signed as representatives of the creditors, it was determined that these individuals are not creditors of the OJSC "AUB". Since the statement does not specify which creditors they present, National Bank of the Kyrgyz Republic supposes that these "representatives of creditors" could not be what they appear. 

As for conservation regime of the OJSC “AsiaUniversalBank”, it was introduced by resolution of the NBKR Board No.68/2 from August 28, 2010 in accordance with the Law “On conservation, liquidation and bankruptcy of banks” due to initiation of criminal case against one of the banks managers, namely Nadelya M.A., Chairman of the Board of Directors and shareholder as well as due to incompliance of the Bank with requirements of the National Bank of the Kyrgyz Republic with regard to minimum size of capital and its negative value, breach of economic normative, including incompliance with obligatory reserve requirements.  

In accordance with article 8 of the Law “On conservation, liquidation and bankruptcy of banks”, the main aim of conservation consists in establishment of control over the bank for provision of maintenance of assets, financial books and registers of the bank.  

As of September 1, 2010, the aggregate assets of the bank constituted 4919.6 million soms, having decreased in more than 5 times in comparison with April 1, 2010, with relevant decrease in banks obligations and capital. Decrease in assets mainly related to creation of additional reserves on securities of non-residents as well as on some credits and financial lease. 

Structure of banks assets from April 2010 was considerably changed. The largest share on the structure of assets is accounted for credits, provided to clients; as of September 1, 2010, their share constituted 65.53 percent.  



ь On September 23, 2010, in the Supreme Court of the Kyrgyz Republic there was continuation of consideration of the civil case under the claim of former shareholders of the OJSC "Kyrgyzpromstroibank”with regard to cancellation of purchase-and-sale contracts for shares of the OJSC "Kyrgyzpromstroibank”. 

The decision of the Judicial Board on Civil Cases of the Supreme Court of the Kyrgyz Republic canceled decisions of the inter-rayon court of Bishkek city, dated May 28, 2010 and, the appeals instance of the Bishkek city court, dated August 3, 2010 on this issue. The lawsuit, initiated by former shareholders of OJSC “Kyrgyzpromstroibank”, was completely denied. The decision came into force on the date of announcement; it is final and not appealable. 



ь On September 24, 2010, the NBKR Management met with the EBRD delegation, headed by senior credit manager of the EBRD credit department, Mr. Shaun Edwards. In the course of the meeting, they discussed economic situation and problems of the banking sector. There were also issues, related to judicial audit of the OJSC "AUB", which will be funded with the EBRD grant funds.  



ь On September 23-26, 2010, Chairman of the National Bank of the Kyrgyz Republic participated in the XXIV meeting of the Club of Central Bank Chairmen of the Central Asia, Black Sea region and Balkans, which took place in Dushanbe. Members of the Club include Chairmen of twenty central banks - Albania, Bulgaria, Bosnia and Herzegovina, Greece, Poland, Macedonia, Romania, Turkey, Montenegro, Serbia, Israel, Armenia, Ukraine, Russia, Azerbaijan, Georgia, Tajikistan, Kazakhstan, Kyrgyzstan, and Moldova. The main aim of the Club consists in provision of the member countries central banks with the possibility of a regular exchange of opinions on issues, related to monetary policy, implementation of banking supervision, maintaining of stability in the banking systems. During the meeting participants discussed the issues of global and regional economic and financial development, strengthening of banking supervision in the post-crisis period, and also the issues, related to development of existing relationships and further regional co-operation of central banks. 



ь National Bank of the Kyrgyz Republic informs that in the 3rd quarter of 2010, 5 open vacancies were announced, among them to central department 3 vacancies, and regional departments 2 vacancies

replacement of vacant positions 4 competitions; 

period of probation 1 competition. 

In general 60 people participated in these competitions. As per results of competitions, 4 people were hired for work on fixed-term labor contract and 18 people were accepted for probation.  

Within the framework of cooperation with higher educational institutions, the aim of which consists in preparation of personnel potential, in the 3rd quarter of 2010, 5 students of higher educational institutions of the republic passed probation in structural subdivisions of the National Bank of the Kyrgyz Republic.  



News of non-bank financial institutions 


The National Bank of the Kyrgyz Republic issued licenses (certificates) for the following non-banking financial institutions (NBFI): 

1. LLC MCC “Milena-Credit” (certificate on accounting registration N°318 dated September 21, 2010 for micro-crediting of individuals and legal entities). Legal address: 56, Sheluhin Str., Grigoryevka village, Issyk-Kul rayon, Issyk-Kul oblast; 

2. Private Enterprise Bayazitova Venera Arkadyevna (license N°4486 dated September 23, 2010 for the right to perform exchange transactions with cash foreign currency), registration number of exchange office 2607. Legal address: Kievskaya/Kulieva Str., Bishkek city; 

3. Private Enterprise Pazylov Abdumannap Rahmatovich (license N°4485 dated September 22, 2010 for the right to perform exchange transactions with cash foreign currency). Legal address: central market, Gagarin Str., Kadamjai village, Batken oblast;  

4. Private Enterprise Abasov Rafik Gadjievich (license N°4484 dated September 21, 2010 for the right to perform exchange transactions with cash foreign currency), registration number of exchange office 2606. Legal address: 125-31, Chui Avenue, Bishkek city; 


The following certificates and licenses of non-bank financial and credit institutions were cancelled: 


1. Certificate of the LLC MCC “Mol Ordo” (certificate on accounting registration No. 231, dated July 30, 2009, for micro-crediting of individuals and legal entities) has been cancelled from September 21, 2010, on the basis of minutes of the general meeting of shareholders on self-liquidation No.3, dated September 15, 2010. Legal address: 46-42, micro-district 7, Bishkek.  



Inter-bank payments 


Indices of Interbank payment systems (IPS) 


Total IPS 

в том числе 

Clearing system 

Gross system 













Indices from the period of September 20, 2010 September 24, 2010 (reporting period) 

Absolute value for a week  

8 958 933 022,99 

20 013 

1 258 479 217,17 

17 706 

7 700 453 805,82 

2 307 

Share of IPS payments (%) 







including (%): 







Net positions of the Single Interbank Processing Center 







Outgoing to the Central Treasurer's Office 







Incoming from the Central Treasurer's Office 







Outgoing to the Social Fund 







Incoming from the Social Fund 







Average weekly indices for the previous month 

Absolute Value 

8 568 318 614,15 

20 133 

1 099 227 592,56 

18 095 

7 469 091 021,60 

2 038 

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

Absolute Value 

390 614 408,84 


159 251 624,61 


231 362 784,22 










Indices of “Elcart” system* 


As of  

September 17, 2010 

September 24, 2010 

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

99 449 

99 849 

Number of pos-terminals: 

- in banks 

- in trade centers 







*According to CJSC “Inter-bank processing center”, at present all 22 commercial banks are connected to the Single Inter-bank Processing Center.