The Chairman of NBKR met with the journalists of the newspaper "The Japan Times" 

 

Ms. Zina Asankojoeva, the Chairman of the National Bank of the Kyrgyz Republic gave an interview to "The Japan Times" newspaper on July 18, 2013. 

During the interview, Ms. Zina Asankojoeva shared about the economic situation in the Kyrgyz Republic, on the activity carried out by the central bank, its goals and functions. "The National Bank as an institute, which pursues the monetary policy, defines the achievement and maintenance of low level of inflation in the Kyrgyz Republic as one of the priority objectives. "NBKR keeps following moderately tight monetary policy. Within 2012, the inflation rate constituted 7.5 %. Currently, the core inflation rate decreased from 10-11 % to 8.5 %. According to the annual results, in the event of no market shocks, inflation is expected to be at the level of 7-8 %" - reported Zina Asankojoeva. 

Head of NBKR informed the journalists of the newspaper that the country is marking the 20th Anniversary of the national currency. "It is a big achievement. The Kyrgyz Republic was one of the first countries among the former Soviet countries to introduce its own currency, Kyrgyz Som. As time proved, the decision was right and timely. Twenty years of existence of Kyrgyz Som is a history of the monetary policy of the country, evidence and acknowledgment of successful work of the National Bank of the Kyrgyz Republic" - emphasized the Chairman. 

Focusing on future plans, Ms. Zina Asankojoeva noted that in order to promote the banking system in the growth of crediting and creation of sustainable diversified economy, the National Bank has been undertaking active measures, in particular, extending the range of monetary-credit policy instruments to ensure liquidity in the banking system through the introduction of credit auctions for refinancing purposes.  

As for the role of the National Bank in attracting foreign, including Japan investments, the Chairman of the NBKR noted that the central bank is realistic about the economic processes and realizes that banks enter the market only after the business. "In this regard, the necessary condition to attract Japans banks to the market is to attract Japans businesses, Japans capital, and growth in the volume of trade cooperation between the two countries. There is a huge capacity for development in this direction". 

Other issues were also raised at the interview. "The Japan Times" journalist was interested in what challenges the NBKR Chairman has been facing and in her career, her opinion on the role of women in modern Kyrgyzstani society. "Any achievement is a work of the team, affinity groups. The NBKR has such a team. This year was declared as year of labor and there is a deep meaning of this: it is labor, which unites people although absolutely different. As for the womens role in the Kyrgyzstani society, I would tell that gender equality in the country is not an issue. Women head several strategic agencies: Prosecutors Office, Supreme Court, Ministry of Finance, Ministry of Health, and Accounts Chamber. They carry great responsibility, titanic workload; their decisions are at the center of attention of both authorities and the public as well. Kyrgyzstani women are always pursuing freedom, continuously studying, working and achieving success in all fields equally with men. However, the eastern mentality also guides women to take responsibility and commitment to keep family, upbring children on top of all social activities. This is probably the most difficult part - to have time for everything," noted Ms. Zina Asankojoeva.  

 

NBKR opened a numismatic exposition on the occasion of the 20th anniversary of the introduction of the Kyrgyz Som. 

A numismatic exposition opened in the National Bank of the Kyrgyz Republic on the occasion of the 20th Anniversary of the introduction of the Kyrgyz Som. 

Samples of the first as well as contemporary banknotes are presented in the exposition of the numismatic museum of NBKR. The exhibits help trace the history of the currency circulation in the territory of Kyrgyzstan since the times when money was first introduced. Thus, there are coins of antique and medieval states among the exhibits brought to Tien Shan and Semirechye along the Silk Road, the caravan routes of which were passing through the territory of Kyrgyzstan.  

Currency history of independent Kyrgyzstan is also very interesting. The national currency was introduced in a difficult time for the country, when the CIS member states had been trying to lead their own economic policies independently from other countries in conditions of forced use of common payment instrument as ruble. In these circumstances, the introduction of the national currency was not an end in itself but a means to carry out its own independent economic policy. The main task was to curb inflation and the subsequent creation of conditions for the implementation of programs of structural reform of the economy. Kyrgyzstan leads the liberal regime of floating exchange rate from the very beginning. 

Since the introduction of its own currency on May 10, 1993, the National Bank of the Kyrgyz Republic issued the fourth series of the national currency banknotes in 2009. Currently a number of banknote denominations are represented as follows: 20, 50, 100, 200, 500, 1000, 5000 Som. 

The history of the national currency is inextricably linked with the history of the country. Notable events in the history of Kyrgyzstan are perpetrated not only in the minds of the people, but also in the images of banknotes in the form of gold, silver and other commemorative coins. 

The following non-bank finance credit institutions and exchange offices received licenses: 

 

LLC "Cash Lombard" (License No.5104 as of July 15, 2013 to give the right to carry out exchange operations in cash foreign currency). Legal address: Frunze Street, Bld., 172 A, Novo-Pavlovka village, Sokuluk district, Chui oblast.  

 

Licenses of the following non-bank finance credit institutions are withdrawn: 

 

From July 11, 2013, the license of the Credit Union Cesar-South under No.188 as of June 19.06.2000 was withdrawn in the framework of the Decree No.24/5 as of July 11, 2012 for violation of the legislation of the Kyrgyz Republic and regulatory acts and requirements of the National Bank of the Kyrgyz Republic. Legal address: Kamchybekov Street, Kurshab village, Uzgen district, Osh oblast. 

From July 16, 2013, the license on the registration of the LLC "MCC "Kayrat Biy" under No.412 as of November 14, 2011 for micro-crediting of physical and legal entities was withdrawn based on the Decree No. 141 of the NBKR External Supervision Management as of July 16, 2013 for systematic violation of regulatory acts of NBKR. Legal address: Chapaev Street, Bld., 52. Budenovka village, Yssyk-Ara district. 

From July 16, 2013, the license of the Credit Union "Er-Bos-Mir" under No. 337 as of March 11, 2002 was cancelled/ self-liquidation. Legal address: 20 Ukubaev Street, Oogan-Talaa, Bazar-Korgon district, Jalalabad oblast. 

 

 

 

INTERBANK PAYMENTS 

 

INTERBANK PAYMENT SYSTEM INDICATORS 

 

Total IPS 

Including 

Clearing system  

Gross system  

Volume, 

KGS 

Q-ty,  

Pc.  

Volume, 

KGS 

Q-ty,  

Pc.  

Volume, 

KGS 

Q-ty,  

Pc.  

Indicators for the period of July 15 to July 19, 2013 (reporting period) 

Absolute Value  

13 726 338 852.84 

49 494 

1 522 728 861.32 

45 933 

12 203 609 991.52 

3 561 

Share in IPS payments (%)  

100.0 

100.0 

11.1 

92.8 

88.9 

7.2 

Including (%):  

 

 

 

 

 

 

Net positions of the SIPC  

0.1 

1.5 

0.9 

1.6 

0.0 

0.0 

Outgoing to the Central Treasury 

10.9 

7.9 

16.7 

8.4 

10.2 

1.3 

Incoming to the Central Treasury  

15.5 

43.9 

23.3 

46.8 

14.5 

6.6 

Outgoing to the Social Fund  

0.01 

0.3 

0.1 

0.4 

0.0 

0.0 

Incoming to the Social Fund  

0.4 

4.0 

3.5 

4.3 

0.0 

0.0 

Average weekly indicators for the last month  

Absolute Value  

15 138 791 174.54 

47 165 

1 507 375 768.04 

43 989 

13 631 415 406.50 

3 176 

Deviation of indicators for the reporting period from average weekly indicators for the last month 

Absolute Value  

-1 412 452 321.70 

2 329 

15 353 093.28 

1 944 

-1 427 805 414.98 

385 

%  

-9.3 

4.9 

1.0 

4.4 

-10.5 

12.1 

 

Elcart System Indicators 

As of  

12.07.2013 

19.07.2013 

The total number of issued cards (excluding re-issued)  

209 480 

210 832 

Number of POS terminals:  

- in banks  

- in sale outlets 

1113 

625 

488 

1113 

625 

488 

Number of ATMs  

286 

287