ь On March 26, 2011, in the National Bank of the Kyrgyz Republic there was the 21st final session of the working group on monitoring of implementation of the Mid-term Strategy for Development of Micro-financing for the period of 2006-2011 (hereinafter referred to as the Strategy).  

The above-mentioned strategy was approved by joint resolution of the Kyrgyz Republic Government and the National Bank of the Kyrgyz Republic on December 30, 2005. It is aimed at concentration of efforts of the Government, National Bank of the Kyrgyz Republic and financial sector with regard to establishment of dynamic and stable industry of micro-financing, as sustainable industry of micro-financing with well-developed potential for provision of services to a wider range of municipal and rural population will promoted economic level growth and poverty reduction.  

The strategy forecasted growth of coverage with micro-crediting of 2-4 percent of the population within five years, increase in the number of borrowers up to 220 thousand people and achievement of the overall size of the credit portfolio of institutions, providing micro-financial services from 6 to 7 billion soms. As of December 31, 2010, the coverage of the population with micro-crediting constituted on average 7.1 percent; total number of borrowers constituted 391 210 people; the size of credit portfolio made up 11.1 billion soms.  

For the purpose of improvement of the regulatory framework within the framework of the Strategy, the measures on introduction of changes and amendments to laws, regulation activity of credit unions and micro-financing organizations, were performed. Thus, changes and amendments to the Kyrgyz Republic Law “On credit unions” were introduced, which enabled to expand the list of operations of credit unions and provided cooperatives and farming households with the right to be members of credit unions. Also, changes and amendments were introduced into the Kyrgyz Republic law “On micro-financing organizations”, aimed at expansion of the range of transactions, performed by micro-financing organizations, as well as at their institutional strengthening. This draft law has been forwarded to the Government for consideration and further introduction to the Kyrgyz Republic Jogorku Kenesh.  

As of the end of 2010, the system of non-banking institutions, subject to licensing and regulations by the National Bank of the Kyrgyz Republic, included two specialized financial-credit institutions (LLC “Financial Company for Support and Development of Credit Unions” and LLC “Specialized Fund for Banks Refinancing”), 217 credit unions, 397 micro-financing organizations (including 4 micro-financing companies, 266 micro-crediting companies and 126 micro-crediting agencies) and 290 exchange offices.  

 

 

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 “Begaiym” (certificate on accounting registration No. 349, dated March 25, 2011, for micro-crediting of physical and legal entities). Legal address: 75-24, Togolok Moldo Street, Jalal-Abad city, Jalal-Abad oblast; 

2. LLC MCC “BJ” (certificate on accounting registration No. 350, dated March 25, 2011, for micro-crediting of physical and legal entities). Legal address: 27-417, Molodaya Gvardiya Avenue, Bishkek; 

3. PE Ergesheva Manzura Bakirovna (License No 4586 dated March 22, 2011 for conducting cash foreign exchange transactions). Legal address: container 6, passage 0, Turatali market, Kara-Suu town, Osh oblast; 

4. PE Djunushalieva Mirgul Bolotbekovna (License No 4587 dated March 23, 2011 for conducting cash foreign exchange transactions). Registration number of exchange office: 2695. Legal address: 2nd floor, MANAS Airport, Bishkek; 

5. PE Kuldashev Tahirdjan Mamasalievich (License No 4588 dated March 25, 2011 for conducting cash foreign exchange transactions). Legal address: central market, N.Aytmatova Street, Jalal-Abad city, Jalal-Abad oblast (flower shop “Orhideya”); 

6. PE Sadykov Shavkatbek Karimjanovich (License No 4589 dated March 25, 2011 for conducting cash foreign exchange transactions). Legal address: room 9, passage 1, market “Eliza”, Kochkor-Ata town, Jalal-Abad oblast; 

7. PE Kadyrov Adyljon Mirzaevich (License No 4590 dated March 25, 2011 for conducting cash foreign exchange transactions). Legal address: room 5, passage 1, market “Eliza”, Kochkor-Ata town, Jalal-Abad oblast; 

 

 

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 18, 2011 March 25, 2011 (reporting period)  

Absolute value for a week  

9 127 813 790,46 

18 825 

1 097 014 926,50 

16 481 

8 030 798 863,96 

2 344 

Share of IPS payments (%) 

100,0 

100,0 

12,0 

87,5 

88,0 

12,5 

including (%): 

 

 

 

 

 

 

Net positions of Common Interbank Processing Center 

0,1 

1,5 

0,6 

1,7 

0,0 

0,0 

Outgoing to the Central Treasurer's Office 

16,1 

13,2 

24,1 

14,6 

15,0 

3,7 

Incoming from the Central Treasurer's Office 

14,2 

20,9 

17,1 

23,7 

13,8 

1,3 

Outgoing to the Social Fund 

0,01 

0,3 

0,04 

0,4 

0,0 

0,0 

Incoming from the Social Fund 

0,2 

4,7 

2,0 

5,4 

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 

975 469 672,47 

-1 251 

127 278 682,47 

-1 569 

848 190 990,00 

318 

12,0 

-6,2 

13,1 

-8,7 

11,8 

15,7 

 

 

Indices of the national payment system Elcart * 

 

As of  

18.03.2011 г. 

25.03.2011 г. 

Number of cards in circulation (exclusively of re-issued cards) 

106 129 

106 573 

Number of pos-terminals: 

- in banks 

- in trade centers  

500 

363 

137 

500 

363 

137 

Number of automated teller machines 

137 

138