ь On March 30, 2011, in the course of session of the Board of the National Bank of the Kyrgyz Republic, the following issues were considered and corresponding resolutions were accepted:  

­ On introduction of changes and amendments to the Instruction “On the procedure for settlement of payments in the System of Package Clearing of Small Retail and Regular Payments in the Kyrgyz Republic” (№20/6); 

­ On introduction of changes and amendments to the Instruction “On the procedure for transfer of electronic messages through the Gross System of Payments on a Real-Time Basis in the Kyrgyz Republic” (№20/7). 

 

 

News of non-banking financial institutions  

 

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

1. LLC MCC “EldikCredit” (certificate on accounting registration No. 351, dated March 29, 2011, for micro-crediting of physical and legal entities). Legal address: 1, Komsomolskaya Street, Kemin town, Kemin rayon, Chui oblast (trade complex “Jyrgal”); 

2. LLC MCC “Emir and Co” (certificate on accounting registration No. 352, dated March 30, 2011, for micro-crediting of physical and legal entities). Legal address: 24, Tuleberdieva Street, Naryn city, Naryn oblast; 

3. LLC MCC “Ozgon financy” (certificate on accounting registration No. 353, dated March 31, 2011, for micro-crediting of physical and legal entities). Legal address: 125, Lenin Street, Uzgen city, Uzgen rayon, Osh oblast; 

4. PE Grigorenko Mihail Ivanovich (License No 4591 dated March 29, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 2696. Legal address: 16, Mira Avenue, Bishkek; 

5. PE Voronin Valery Viktorovich (License No 4592 dated March 29, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 2697. Legal address: 23, Beishenalieva Street, Bishkek; 

6. PE Botobaev Oljobai Kochkonovich (License No 4593 dated March 31, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 2698. Legal address: container 15, central passage, Dordoi market, Bishkek; 

 

The National Bank of the Kyrgyz Republic revoked certificates/licenses from the following Non-banking financial institutions: 

 

1. License No. 4498 of the Exchange Office PE Sultanov A.A., dated October 19, 2010, has been canceled from April 1, 2011, due to termination of activity. Legal address: place No.13, central passage, Dordoi market, Bishkek; 

2. License No. 4570 of the Exchange Office PE Izzatov Rashid Lachinovich., dated February 25, 2011, has been canceled from March 30, 2011, due to termination of activity. Legal address: 148/3, Abdrahmanova Street, Bishkek; 

3. License No. 4463 of the Exchange Office PE Kasymov Nozimjon Nasurdinovich., dated July 28, 2010, has been canceled from March 28, 2011, due to termination of activity. Legal address: central market, Jalal-Abad city, Jalal-Abad oblast (orienting point: 1st passage of the market from the side of municipal administration); 

 

 

How to differentiate between original and counterfeit 500-soms banknote? 

 

In 2010, 328 counterfeit banknotes were detected in the territory of the Kyrgyz Republic. In the total number of counterfeit banknotes, withdrawn from circulation, the largest share was accounted for counterfeit banknotes with the nominal value of 500 soms – 2000 issuance year (203 banknotes), which constituted 61.9 percent from the overall amount. Banknotes with other nominal values are also counterfeited, but in less amounts. Increase in the number of counterfeit banknotes is explained by the fact that counterfeiter was detained in Karakol city with a large number of counterfeit banknotes with the nominal value of 500 soms in number 183 banknotes for the total sum of 91 500 soms.  

These counterfeit banknotes were produced by the method of printing of scanned banknote image with the help dropping-ink-spray printer on consumer paper without imitation of protective elements. This type of counterfeit is not referred to the category of dangerous counterfeits; despite appearance similarity of counterfeit banknote with original banknote, it may be easily recognized because of protective elements of the national currency banknote.  

During production of counterfeit banknotes, counterfeiters pay main attention to visual protection properties. These properties are the first defense line against counterfeits. The process of primary sale is the most responsible and important issues of counterfeiters. That’s why they try to imitate the properties, which are mainly controlled by the population. Moreover, counterfeiters try to make counterfeit banknotes look worn-out in order to conceal differences from original banknotes. As a rule, distinctive features of counterfeit banknotes are as follows:  

· Absence of relief and unevenness in the zone of signatures and portraits; 

· Bad quality of watermark or even absence of watermark; 

· Bad quality of security thread or even absence of security thread; 

· Absence of latent image of numeric nominal in the square, placed in the right bottom corner of the banknote. 

Also, insufficient information awareness of the population and excessive gullibility promote distribution of counterfeit banknotes. 

In order to differentiate doubtful banknote from the original one, it is necessary to compare it with the original banknote, authenticity of which is under no doubt. It is not good to trust availability of only one feature, it is necessary to check all known elements (see Figure 1). 

If you have a doubtful banknote, it is necessary to bring it to the neighbor department of internal affairs or to the National Bank of the Kyrgyz Republic, where specialists will make expertise of the banknote’s authenticity. You should not try to market a doubtful banknote, because not only production but also distribution of counterfeit banknotes is punished by law.  

In accordance with the Article 198 of the Criminal Code of the Kyrgyz Republic, production, storage or marketing of counterfeit banknotes are punished by imprisonment for the period from 3 to 5 years with confiscation of property. The same actions, committed in large scale and by group of people, are punished by imprisonment for the period up to 10 years with confiscation of property. 

Acceptance of doubtful banknotes and coins of the national currency of the Kyrgyz Republic for expertise is performed by the National Bank of the Kyrgyz Republic every day from Monday to Friday (9 a.m - midday). Fee for expertise performance is not charged. Expertise period constitutes no more than 5 days. 

 

 

 

Inter-bank payments 

 

Indices of Interbank payment systems (IPS)
	Total IPS		including
			Clearing system		Gross system
	Volume,  KGS	Quantity,  items	Volume,  KGS	Quantity,  items	Volume,  KGS		Quantity,  items
Indices from the period of March 28, 2011 – April 1, 2011 (reporting period)
Absolute value for a week	13 962 729 115,08	26 913	1 415 548 714,31	23 908	12 547 180 400,77	3 005
Share of IPS payments (%)	100,0	100,0	10,1	88,8	89,9	11,2
including (%):
Net positions of Common Interbank Processing Center	0,1	1,3	1,3	1,4	0,0	0,0
Outgoing to the Central Treasurer's Office	22,9	20,6	20,7	22,8	23,2	2,7
Incoming from the Central Treasurer's Office	19,2	17,8	11,1	19,8	20,1	1,6
Outgoing to the Social Fund	0,01	0,2	0,1	0,2	0,0	0,0
Incoming from the Social Fund	0,4	5,5	3,6	6,1	0,0	0,0
Average weekly indices for the previous month
Absolute Value	8 152 344 117,99	20 076	969 736 244,03	18 050	7 182 607 873,96	2 026
Indexes deviations of the reporting period from the weekly average indexes of the previous month
Absolute Value	5 810 384 997,09	6 837	445 812 470,28	5 858	5 364 572 526,81	979
%	71,3	34,1	46,0	32,5	74,7	48,3

 

 

Indices of the national payment system Elcart * 

 

As of	25.03.2011	01.04.2011
Number of cards in circulation (exclusively of re-issued cards)	106 573	107 241
Number of pos-terminals:  - in banks  - in trade centers	500  363  137	547  409  138
Number of automated teller machines	138	139