The Board of the National Bank of the Kyrgyz Republic considered the following issues and adopted the subsequent resolutions at the meeting held on March 11, 2015:
- Resolution of the Board of the National Bank of the Kyrgyz Republic № 16/1 from March 11, 2015 "On minimum size of the charter capital of commercial banks"
The President of the Kyrgyz Republic Mr. Almazbek Atambaev hosted the Chairman of the National Bank Mr. Tolkunbek Abdygulov
On March 12, 2015, the President of the Kyrgyz Republic Mr. Almazbek Atambaev hosted the Chairman of the National Bank Mr. Tolkunbek Abdygulov.
During the meeting, the Head of State was informed about the measures taken by the National Bank to ensure a stable macroeconomic environment, reduce the inflation rate, maintain the stability of the national currency, ensure the security of the banking and payment systems.
The President Almazbek Atambaev and the Chairman of the National Bank Mr. Tolkunbek Abdygulov also discussed the issues of implementation of alternative investment instruments - gold bullion bars - in Kyrgyzstan.
Also, the consideration was given to the issues of improving the financial literacy of the population; in particular, a specialized website www.finsabat.kg and the first training comics for children were presented.
The Head of State noted the importance of a stable and reliable work of financial institutions of the country, which should effectively mobilize financial resources for the benefit of citizens and entrepreneurs.
Foster children of the Public Union "SOS Children's Villages Kyrgyzstan" visited the Numismatic Museum of the National Bank of the Kyrgyz Republic
An excursion to the Numismatic Museum of the National Bank of the Kyrgyz Republic for the foster children of "SOS Children's Villages Kyrgyzstan" PU was organized within the framework of the "Global Money Week", conducted in Kyrgyzstan from 11 to 17 March this year. It was attended by more than 20 children and staff of the "SOS Children's Villages Kyrgyzstan".
During the tour, the chief specialist of the Documentations and Communications Department of the National Bank of the Kyrgyz Republic Ms. Bermet Usubalieva told the guests about the first means of payment and coins of ancient and medieval states, as well as modern money and numismatic coins of Kyrgyzstan and other countries. Among the exhibits are rare coins and banknotes from different historical periods; various types of securities that are of historical and numismatic value; foreign, commemorative coins and bank notes of all four series of the national currency of Kyrgyzstan; collectible coins issued by the central bank of the country from 1995 to 2014. In each of them the history of the Kyrgyz people, nature and fauna of the country is recorded.
Students showed interest in getting acquainted with the exhibits, asked the tour guide questions, and actively shared their impressions about the excursion.
The foster son of the "SOS Children's Villages Kyrgyzstan" Mr. Bakay Kemeliev said: "Me and my friends enjoyed the exhibits displayed at the Museum of the National Bank in the form of coins and currency units of different countries of the world. I learned a lot of new and interesting things about the origin of the first money, about the creation of the first Kyrgyz soms. I will certainly share my experience with my brothers and sisters".
In her turn, the foster daughter of the "SOS Children's Villages Kyrgyzstan" Ms. Erkinbek kyzy Aychurok thanked the National Bank for the organization of the tour: "Thanks to the National Bank for the invitation to the museum. It was interesting to see the collection of the central bank, to listen to the facts about the history of the first Kyrgyz soms".
"The tour was very informative. For example, I have just learned that money is not made out of paper but rather of cotton. It was interesting to see the ancient money, collectible coins," - said Ms. Kanyshai Meymanbekova, who is of the same age as Aychurok.
"I learned a lot about how the first money was created, what was used as payment instruments in ancient times, and a lot of other information from the world of coins and money in general. It turns out that counterfeiting of currency is a criminal offense" - said Mr. Nurkul uulu Busurmankul.
Background information:
On May 6, 1998 the numismatic exhibit dedicated to the 5th anniversary of the introduction of the national currency of the Kyrgyz Republic was organized at the National Bank of the Kyrgyz Republic, and in December 1998 the exhibition was transformed into a numismatic museum of the bank.
The Numismatic Museum of the National Bank is constantly expanding its collection of ancient coins, ancient and modern currency units and documentary materials on Kyrgyz national currency, as well as promoting their scientific and cultural significance. The Museum of the National Bank of the Kyrgyz Republic has ancient currency units of Kyrgyzstan and other states; paper currency units and coins, which were circulated on the territory of Kyrgyzstan; various types of securities and other valuables of historical and numismatic value; currency units of foreign states and other valuables donated to the Museum of the National Bank; foreign coins made of precious metals; commemorative coins of the State Bank of the USSR; commemorative banknotes and coins of Kyrgyzstan; souvenir sets of banknotes and coins of the national currency. The museum stores materials for the formation of photographic and video archives: photos of employees of the National Bank and other officials, as well as video and audio tapes, which reflect the most important stages of the work of the National Bank of the Kyrgyz Republic.
Each year, the museum hosts exhibitions devoted to the Day of the introduction of national currency, the Independence Day of the Kyrgyz Republic, and open days dedicated to various significant events in the country and the world.
Specialists of the National Bank taught foster children of the SOS Children's Village basics of financial literacy
Within the framework of the Global Money Week, which started on March 10, staff of the National Bank of the Kyrgyz Republic met with the students of the educational complex SOS Hermann Gmeiner and foster children of SOS Children's Village, located in Bishkek.
During the meeting, experts told the younger generation about the necessity of knowing the basics of financial literacy; how to properly maintain the budget, noting that good financial management plays an important role in the welfare of each person.
"Your knowledge is your assets. You have the ability to transform your knowledge into capital assets", stressed the chief lawyer of the department of rights of consumers of banking and microfinance services of the National Bank of the Kyrgyz Republic Mr. Mirlan Maytpasov in his speech.
The specialists of the National Bank devoted a separate presentation to methods of accumulating funds and types of financial products that financial institutions provide. Children were interested in deposits in commercial banks, which provide the opportunity to replenish funds during the deposit period.
The national currency of Kyrgyzstan was the topic of another lecture. The audience was told about the history of its creation and the security features of banknotes. Lecturers also spent some time discussing the forms of payments, types of payment systems, bank cards and others.
Acting director of the Hermann Gmeiner SOS educational complex Mrs. Svetlana Tenizbaeva noted the relevance of the activities that increase the financial literacy of young people, and was hopeful of continuing cooperation with the National Bank of the Kyrgyz Republic.
At the end of the meeting the lecturers gave students of the educational complex the handbook "A-B-C book of Money" in the Russian and Kyrgyz languages.
Field lectures of the experts of the National Bank to enhance financial literacy are held regularly throughout the country. Classes have been held in Bishkek, Chui and Talas oblasts of the Kyrgyz Republic, which were attended by more than 500 children. In the near future similar events will be held in Issyk-Kul and Osh oblasts of the Kyrgyz Republic.
The first electronic resource to improve the financial literacy of the population www.finsabat.kg is launched in Kyrgyzstan.
The National Bank of the Kyrgyz Republic developed and launched the first website in the country dedicated to financial literacy.
Information portal finsabat.kg is a regularly updated integrated resource in the Kyrgyz and Russian languages, which contains relevant materials on the topics of Economy and Finance, prepared by government agencies and financial institutions, to promote financial literacy of the population. Educational materials contained on this website will help the reader imagine the work of domestic financial and banking systems, their impact on the lives of every person, provide full information on products and services offered by financial institutions in the country, the rights and obligations of borrowers.
For the convenience of readers information on the website is classified by thematic sections. For example, in "Legislation" section one can find normative legal acts of the Kyrgyz Republic, which regulate legal relations between providers of banking services and their consumers.
"Consumers" section contains general information about the money, loans, deposits, payment cards, etc. For example, by following the link, one can read interesting articles about the national currency - how it was created, what kinds are there today, how it can be exchanged, etc.
The "Media" section contains educational publications of news agencies, newspaper articles, as well as audio and video materials, aired on TV and radio stations in an effort to improve the financial literacy of the population.
An electronic version of a children's book - "On money for children" is also posted on the website. This book was developed by the National Bank in the form of a comic book to facilitate young readers' perception of information that is new and possibly difficult for them.
"A-B-C book of Money for children" is a reference material in the Russian and Kyrgyz languages distributed in the regions with the aim of introducing the most basic economic concepts encountered by children in their daily lives.
The "Educational video" section contains video lectures recorded by employees of the National Bank on the most relevant topics. Today the lectures are available on the rights and obligations of borrowers, on the security features of the national currency, the benefits of bank cards, etc.
By following the link "Test Yourself" every reader can check his level of knowledge in the field of finance. Tests on various topics contain 20 questions with multiple-choice answers.
"Global Money Week" is launched in Kyrgyzstan
The start of the events devoted to improve financial literacy of children and youth, which will be held in the country from 10 to 17 March 2015, was declared at a press conference. It was attended by the Chairman of the National Bank of the Kyrgyz Republic Mr. Tolkunbek Abdygulov, Deputy Executive Director of the State Agency for Deposit Protection of Kyrgyzstan Mr. Samatbek Dzhumashev, Regional Manager of Eastern Europe and Central Asia "Child and Youth Finance" Mrs. Karina Avakian, Head of the Association of Legal Entities "Union of Kyrgyz Banks" Mr. Anvar Abdraev, Chairman of the Board of the "Institute for Development Policy" Mrs. Nadezhda Dobretsova.
During the press conference, the head of the National Bank of the Kyrgyz Republic said that this is the first time when Kyrgyzstan will join the global campaign Global Money Week on a full-scale on March 10. "Within the framework of the Week interactive training sessions, seminars, round tables, excursions to financial institutions, competitions for children and young people will be held throughout Kyrgyzstan, including in remote areas and villages. The main goal of the campaign is to develop the culture of savings in the young generation and provide children and young people with knowledge, so that in the future they can make informed financial decisions and build their wealth, "- he said.
Mr. T. Abdygulov also informed the journalists about signing of the grant agreement for the project "Financial literacy in support of financial inclusion in the Kyrgyz Republic" by the National Bank and the Alliance for Financial Inclusion (AFI). The project involves the study and development of the concept of financial literacy, which will determine the tools to deliver information to target audiences. The study will be conducted in all regions, the results will be known by the end of this year," - said the head of the National Bank of the Kyrgyz Republic.
Continuing the topic, he noted that the National Bank has been also working to improve the financial literacy of the population. "Thus, field lectures are held for high school students, representatives of small and medium-sized businesses and local self-governance. Our experts explain in detail the basics of economics and finance, competent management of personal money, "golden" rules of the borrower, the advantages and benefits of modern payment instruments. Also, we launched the website www.finsabat.kg, dedicated to financial literacy; comics "Akcha alippesi" and "Denezhnaya Azbuka" in the Kyrgyz and Russian languages are published; specialized brochures are being prepared"- summed Mr. T. Abdygulov.
Campaign "Global Money Week" held in the Kyrgyz Republic in 2015 is supervised by the National Bank. Also, in order to increase coverage of the population the campaign was joined by other financial institutions, associations and international organizations. These include: the Ministry of Finance of the Kyrgyz Republic, the State Service of Regulation and Supervision of Financial Market under the Government of the Kyrgyz Republic, the Agency for Deposit Protection of the Kyrgyz Republic, the Ministry of Labour, Migration and Youth of the Kyrgyz Republic, Association of legal entities "Union of Kyrgyz Banks", NGO "Institute for Youth Development", Institute of Policy Development, "FINCA Bank" CJSC, "Kyrgyz Investment and Credit Bank" CJSC, "Bai-Tushum" Bank, International Finance Corporation (IFC), the German Society for International Cooperation (GIZ), "Kyrgyz Stock Exchange" CJSC, NGO "Private investors club", University of Central Asia and others.
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Interbank Payment Systems (IPS) indicators |
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Total IPS |
including |
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Clearing system |
Gross system |
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Volume, KGS |
Quantity, pcs |
Volume, KGS |
Quantity, pcs |
Volume, KGS |
Quantity, pcs |
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Indicators for the period from March 10 to 13, 2015 (reporting period) |
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Absolute Value |
39 062 822 760.02 |
58 223 |
1 931 197 219.93 |
52 382 |
37 131 625 540.09 |
5 841 |
|
Share in IPS payments (%) |
100.0 |
100.0 |
4.9 |
90.0 |
95.1 |
10.0 |
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Including (%): |
|
|
|
|
|
|
|
Net positions of the Common Interbank Processing Center |
0.1 |
1.7 |
2.7 |
1.8 |
0.0 |
0.0 |
|
Outgoing to the Central Treasury |
11.7 |
12.0 |
32.4 |
13.3 |
10.6 |
0.5 |
|
Incoming to the Central Treasury |
7.4 |
43.3 |
12.9 |
47.9 |
7.1 |
2.1 |
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Outgoing to the Social Fund |
0.02 |
0.2 |
0.4 |
0.3 |
0.0 |
0.0 |
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Incoming to the Social Fund |
0.2 |
6.5 |
4.5 |
7.2 |
0.0 |
0.0 |
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Average weekly indicators for the previous month |
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Absolute value |
29 583 587 846.61 |
53 582 |
1 466 425 876.00 |
49 078 |
28 117 161 970.61 |
4 503 |
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Deviation of indicators for the reporting period from average weekly indicators for the previous month |
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Absolute value |
9 479 234 913.41 |
4 641 |
464 771 343.93 |
3 304 |
9 014 463 569.48 |
1 338 |
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% |
32.0 |
8.7 |
31.7 |
6.7 |
32.1 |
29.7 |
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Elcart System Indicators |
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As of |
27.02.2015 |
10.03.2015 |
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The total number of issued cards (excluding reissued) |
384 092 |
385 625 |
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Number of POS-terminals: - in banks - in sale outlets |
1 489 789 700 |
1 494 794 700 |
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Number of ATMs |
431 |
432 |