“Ak-Ashuu” MCC is prohibited to carry out operations on microlending of individuals and legal entities in national currency since July 14, 2015
For violation of requirements of the paragraph 3, Article 37 of the Law “On microfinancing organizations in the Kyrgyz Republic”, paragraph 3.11 of the Provision “On minimum requirements for conduction of external audit of microfinancing organizations in the Kyrgyz Republic” as well as for regular non-fulfillment of requirements of prescriptions of the National Bank of the Kyrgyz Republic, the Record Registration Certificate №106 dated December 31, 2007 of the “Ak-Ashuu” MCC OJSC (legal address: 254 Kievskaya Street, Bishkek city) was revoked by the Resolution №26/1 dated July 10, 2015 of the Supervisory Committee of the National Bank of the Kyrgyz Republic.
The National Bank calls upon the population to treat national currency with due care
In recent years, cases of receipt of intentionally damaged banknotes and coins of the national currency by the National Bank of the Kyrgyz Republic have increased in number. Along with a careless attitude to KGS (notes are crumpled, torn, stained, used as notebooks, stored in pockets instead of the purse), the National Bank acknowledges intentional damage of domestic currency notes by citizens. A case has recently been documented when paper notes were used to disseminate advertisement and notes and coins were intentionally damaged.
In view of the above, the National Bank of the Kyrgyz Republic reminds the citizens that they should treat the national currency with due care. Appearance and physical state of cash in circulation depends not only on the quality of materials, manufacturing method, weather conditions, but in many respects is conditioned by the relation of population to their currency, general money handling culture.
Mr. Emil Kurbanaliev, leading expert of the expert Cash Management Department of the NBKR informed: “Incapability of Kyrgyz people to treat the national currency with due care allows them to use a note as a notebook or a phone book, a prescription list, advertisement and even as a poetic admission of love. I am of the opinion that irreverent attitude to KGS shows generic relation of citizens to themselves, to their country. The national currency is the face of the country indeed. Guests often receive their first impressions about the country through holding the local currency in their hands. Any man will surely be unpleased to receive bulgy pack of dirty, torn notes and notes covered with writing in exchange of his/her currency. Someone may treat it as a trifle, but such trifles form economic and political image of our country”.
Each country must take care of the appearance of its national currency. It is demonstrated through not only improving the physical quality of notes, design and protective properties, but through accurate, solicitous attitude to cash of each citizen of the country. Manufacture of KGS, constant replacement of shabby money with new notes and coins consume many public funds. Delicate handling of the national currency shall enable each note and coin to serve much longer. Therefore, do not write notes, fold up and wrap them! If you have a shabby note (torn, dirty, covered with writing, rubbed etc.), you may exchange it to a proper note in any commercial bank of the Kyrgyz Republic provided that more than 80% of the note’s area is preserved. The National Bank of the Kyrgyz Republic exchanges shabby banknotes of the national currency to new ones every day, since Monday to Friday from 9:00 am to 15: pm provided 50% and more area of the note is of acceptable quality.
In order to strengthen stability, security and reliability of the banking system, the National Bank enhanced in 2015 requirements for the authorized capital of banks, which provide a gradual increase in banks’ capital to 600.0 million KGS by July 1, 2017:
till July 1, 2015 - 300 million KGS;
till July 1, 2016 - 400 million KGS;
till July 1, 2017 - 600 million KGS.
As of July 1, 2015, all commercial banks of the Kyrgyz Republic met the requirement for increasing the authorized capital up to 300.0 million KGS.
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UOM: thousand KGS |
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# |
Name of the bank |
Paid-in authorized capital |
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January 1, 2015 |
July 1, 2015 |
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1 |
“RSK Bank” OJSC |
1 244 018 |
1 244 018 |
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2 |
“FINCA Bank” CJSC 1 |
1 043 236 |
1 232 336 |
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3 |
“Aiyl Bank” OJSC |
600 000 |
1 150 000 |
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4 |
“KICB” CJSC 2 |
1 030 514 |
1 087 489 |
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5 |
“BTA Bank” CJSC |
1 000 000 |
1 000 000 |
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6 |
“CB Kyrgyzstan” OJSC |
781 987 |
781 987 |
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7 |
“Bai Tushum” Bank CJSC |
715 000 |
715 000 |
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8 |
“Optima Bank” OJSC |
700 000 |
700 000 |
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9 |
“Rossinbank” OJSC |
40 900 |
647 172 |
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10 |
“Amanbank” RC OJSC |
600 000 |
600 000 |
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11 |
“Halyk Bank Kyrgyzstan” OJSC |
534 200 |
534 200 |
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12 |
“Bank Bakai” OJSC |
384 889 |
475 887 |
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13 |
“EcoIslamicBank” CJSC |
407 369 |
427 283 |
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14 |
“Kyrgyz-Swiss Bank” CJSC |
242 389 |
422 389 |
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15 |
“Bank of Asia” CJSC |
271 001 |
335 624 |
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16 |
“Tolubai” JSCB CJSC |
268 000 |
322 000 |
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17 |
“Capital Bank” OJSC |
310 100 |
310 100 |
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18 |
“Dos-Credobank” OJSC |
304 385 |
304 385 |
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19 |
“FinanceCreditBank CJSB” OJSC |
300 000 |
300 000 |
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20 |
Bishkek branch of NBP 3 |
201 454 |
300 000 |
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21 |
“Kyrgyzcommercebank” OJSC 4 |
153 518 |
300 000 |
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22 |
“Demir KIB” CJSC |
132 540 |
300 000 |
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23 |
“KyrgyzCredit Bank” OJSC |
300 000 |
300 000 |
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Total |
11 565 499 |
13 789 869 |
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1License for banking transactions was obtained by the “FINCA Bank” CJSC on March 3, 2015 |
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2 Authorized Capital of the “KICB” CJSC amounts to 17 500 USD |
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3 According to new Provision “On the procedure of empowering its branch with capital by the non-resident bank” (Approved by the Resolution #31/1 dated June 10, 2015 of the Board of the National Bank), the capital of Bishkek Branch of the National Bank of Pakistan is placed in the National Bank of the Kyrgyz Republic in national currency |
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4 “Kazcommercebank” OJSC was renamed to “Kyrgyzcommercebank” OJSC since June 17, 2015 |
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Meeting of the Advisory Committee on Financial Markets of the EAEC member states was held in Bishkek
A meeting of the Advisory Committee on Financial Markets of member states of the Eurasian Economic Council (EAEC) was held in the Kyrgyz Republic. The meeting organized by the National Bank of the Kyrgyz Republic was attended by the representatives of central banks, ministries of finance and business communities of the Russian Federation, Republic of Belarus, Republic of Kazakhstan, Republic of Armenia, as well as members of the Eurasian Economic Commission.
By opening the event and welcoming the meeting participants, Mr. Tolkunbek Abdygulov, the Chairman of the National Bank of the Kyrgyz Republic, expressed his gratitude to the Eurasian Economic Commission and personally to the Minister of Economy and Financial Policy Mr. Timur Suleimenov for their support to the Kyrgyz Republic in joining the country to an economic alliance.
“I am happy to open the meeting of the Advisory Committee on the financial markets of member states of EAEC on the threshold of memorable and historical event for our country it shall become a full member of the Eurasian Economic Union. Joining the EAEC shall give stable T impulse to progressive economic development of our country and its integration with the economic organization members”, − noted T. Abdygulov.
The Head of NBKR drew attention of participants to the trend of cooperation growth between the EAEC member states in economic and other spheres. He expressed its hope that fruitful cooperation would continue and be strengthened.
Mr. Timur Suleimenov, the member of the Board, Minister of Economy and Financial Policy of the Eurasian Economic Commission, underlined that the event was the first event of the Eurasian Economic Union and the Eurasian Economic Commission held on the territory of the Kyrgyz Republic. “I would like to distinguish good preparation of the National Bank of the Kyrgyz Republic, which could show deep knowledge and extensive professionalism in team work despite the fact that is a new member of the Advisory Committee”- said he by expressing his hope for further constructive cooperation.
About fourteen issues were considered during the meeting. The participants discussed the progress of work on the Agreement on requirements to execution of activities at financial markets, as well as on the draft Agreement on mutual admittance (accreditation) of brokers and dealers of the EAEC member states to the national stock exchange. They also reviewed the results of work of the working group on currency regulation and currency control on the territory of the EAEC under the Advisory Committee on Financial Markets and the prospects for cooperation between the Union’s member states on exchanging of information included in credit histories.
REFERENCE
The Advisory Committee on Financial Markets under the Eurasian Economic Commission was established by the Decision №199 dated October 25, 2012 of the Board of EEC. Chairman of the Committee is a member of the Board, Minister of Economy and Financial Policy of the Eurasian Economic Commission Mr. Timur Suleimenov.
In its activity, the Committee is aimed at harmonizing the national legislations of member states of the Customs Union and the Common Economic Space in the field of financial markets in view of the best international practices.
The priority task of the Committee is to enhance mutual trade in financial services (in banking and insurance sector, as well as at the securities market) between CU and CES member states.
The first session of the Committee was held in April 3 in Erevan (Armenia). Next session will be held in autumn, and a meeting will be organized in December in Moscow, in the course of which the Committees work for 2015 will be summarized.
Licenses/certificates of the following nonbank financial-credit institutions have been revoked:
1. Individual Entrepreneur Sydykova Roza Machinovna (the license № 5020 dated July 18, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked due to expiration of license). Address: 163 “а” Frunze Street, Sokuluk village, Chui oblast
2. Individual Entrepreneur Zholdoshbaev Abdurashid Ghaliakhparovich (the license № 5017 dated July 17, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked due to expiration of license). Address: 300 Kurmanzhan Datka Street, Bishkek city.
3. Individual Entrepreneur Abdulkhamidov Abdusalam Tashpulatovich (the license № 5015 dated July 16, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked due to expiration of license). Address: Central Market (reference point: shoe passage) Uzghen town, Osh oblast.
4. Individual Entrepreneur Abdulkhamedov Mukhtorzhon Muhammadzhanovich (the license № 5014 dated July 16, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked due to expiration of license). Address: Central Market (reference point: rice market) Uzghen town, Osh oblast.
5. Individual Entrepreneur Miryusupov Mirolim Mirsobirovich (the license № 5013 dated July 16, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked due to expiration of license). Address: Central Market (reference point: rice market) Uzghen town, Osh oblast.
6. Individual Entrepreneur Toktogulova Gulbarchyn Sharshenbekovna (the license № 5012 dated July 13, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked). Address: 165-1 Moskovskaya Street, Bishkek city.
7. Individual Entrepreneur Mominov Oktamzhon Mamatgazievich (the license № 5011 dated July 12, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked due to expiration of license). Address: 7 S. Alimbaev Street, Nookat town, Osh oblast.
8. Individual Entrepreneur Hazhikurbanov Madaminzhon Surozhidinovich (the license № 5010 dated July 12, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked due to expiration of license). Address: urban market (stall № 6), Nookat town, Osh oblast.
9. Individual Entrepreneur Pratov Hairullo Eminzhonovich (the license № 5009 dated July 12, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked). Address: urban market (stall № 4), Nookat town, Osh oblast.
10. Individual Entrepreneur Dzhorobaev Ravshanzhon Ibragimzhanovich (the license № 5008 dated July 12, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked). Address: urban market (reference point: “Nooruz” cafe), Nookat town, Osh oblast.
11. Individual Entrepreneur Sidikov Olimjon Eminzhanovich (the license № 5006 dated July 12, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked). Address: OB place, № 2, Central Market, Nookat town, Osh oblast.
12. Individual Entrepreneur Akhmedov Ravshanbek Anvarzhanovich (the license № 5005 dated July 12, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked). Address: OB place, № 7, Central Market, Nookat town, Osh oblast.
13. Individual Entrepreneur Ganizhanov Kazimzhan (the license №5004 dated July 12, 2012 for carrying out of exchange operations with foreign currency in cash has been revoked). Address: OB place, № 1, Central Market, Nookat town, Osh oblast.
14. “Ak-Ashuu” MCC OJSC (the Record Registration Certificate №106 dated December 31, 2007 for microlending of individuals and legal entities has been revoked). Address: 254 Kievskaya Street, Bishkek city.
15. “Nurdan Invest” MCC LLC (the Record Registration Certificate №81 dated April 27, 2007 for microlending of individuals and legal entities has been revoked). Address: apt.18, 8 Abai Street, Bishkek city.
It should be noted that a letter on registration of additional exchange office has been issued to the following companies:
1. “Zolotoi Course” LLC № 3328 dated July 16, 2015. Legal address: 524 а Lenin Street, Chaldybar village, Chui oblast.
2. “Myktybek-Ruslan” LLC, Legal address: “Kerben” Market, Novodonetsk village, Manas region, Talas oblast.