In accordance with the requirements of the Regulation "On licensing of activity of payment system operators and payment institutions", approved by the decision № 58/9 of the Board of the National Bank of the Kyrgyz Republic dated December 24, 2014, "Mobile Money Systems" LLC has obtained the license of the National Bank of the Kyrgyz Republic. 

On July 23, 2015 "Mobile Money Systems" LLC obtained a license to carry out the following activities: 

# 2016230715 - on the provision of services of receiving, processing and release of financial information (processing, clearing) on payments and settlements of third parties to participants of the payment system of the processing, clearing center under consideration. 

# 3015230715 - on the provision of services of receiving and executing payments for goods and services, which are not the result of their own activities and which are in favor of third parties, by means of payment systems based on information technologies, electronic means and methods of payment. 

  

The program on improving the financial literacy of the population of the 

Kyrgyz Republic 

Over the past two years the National Bank of the Kyrgyz Republic has been working to improve the financial literacy of the population, including work on the preparation of the Program to improve the financial literacy of the population of the Kyrgyz Republic (hereinafter - the Program), which will be approved at the state level. To do this, a sociological research commissioned by the National Bank of the Kyrgyz Republic and with the support of the Alliance for Financial Inclusion was conducted to determine the level of financial literacy of the population of the Kyrgyz Republic. Analytical report on this research will be used to draft the abovementioned Program. 

The draft Program is being developed with participation of representatives of ministries and departments, non-governmental organizations and other stakeholders with the assistance of international and local consultants. Analytical report on the results of the sociological research "Financial literacy of the population of the Kyrgyz Republic: facts and conclusions" is posted on the website www.finsabat.kg.  

 

On the state of the cash turnover in the Kyrgyz Republic 

for the II quarter of 2015 

 

 

As of July 1, 2015 the total amount of money in circulation amounted to 55 939.8 million soms, of which 4 069.4 million soms were in cash departments of commercial banks, and the remaining amount was outside the banking system (the total amount of money in circulation decreased by 9 674.2 million soms or 14.7 percent compared with the corresponding period of the last year). 

In the II quarter of 2015 cash departments of commercial banks throughout the country received 249 392.2 million soms, an increase of 7 195.0 million soms or by 3.0 percent than in the II quarter of 2014. 

 

In the II quarter of 2015 cash departments of commercial banks gave out 256 493.9 million soms, which is 8 617.9 million soms or 3.5 percent more than in the II quarter of 2014. 

For the II quarter of 2015 recoverability of cash in the cash departments of commercial banks amounted to 97.2 percent (the decrease was 0.5 percentage points compared to the II quarter of 2014). 

The change in the recoverability of cash in the cash departments of commercial banks by oblasts for the II quarter 2015 is shown in Table 1. 

Table 1. 

 

In percent 

 

 

2014  

2015 

Variance 

 

Country total  

 

97.7 

 

97.2 

 

-0.5 

Bishkek city 

103.3 

99.8 

-3.5 

Batken oblast 

97.0 

98.1 

1.1 

Jalal-Abad oblast 

85.6 

91.2 

5.6 

Issyk-Kul oblast 

88.8 

92.5 

3.7 

Naryn oblast 

83.3 

84.8 

1.5 

Osh oblast  

95.3 

96.6 

1.3 

Osh city 

97.1 

97.4 

0.3 

Talas oblast 

78.4 

85.9 

7.5 

Chuy oblast  

100.1 

99.9 

-0.2 

 

 

Licenses / certificates to the following nonbank financial intermediaries and exchange offices have been issued: 

 

1. “Abu Aidin” LLC (license # 5349 dated 24.07.2015 to carry out exchange operations with foreign currency in cash). Registration number of the exchange office # 3331. Legal address: Bishkek city, 38-21 Manas Avenue. 

2. “Abdurakhmon Ajy” LLC (license # 5348 dated 24.07.2015 to carry out exchange operations with foreign currency in cash). Legal address: Osh oblast, Aravan district, Aravan village, Osh 3000 Street with no number (reference point bus station). 

3. “Umar Plyus” LLC (license # 5347 dated 24.07.2015 to carry out exchange operations with foreign currency in cash). Legal address: Osh oblast, Karasuu town, Lenin Street with no number, “Turatali” market, 0 row, container # 6.  

4. “Real Besh” LLC (license # 5346 dated 24.07.2015 to carry out exchange operations with foreign currency in cash). Legal address: Osh oblast, Karasuu town, Lenin Street with no number, “Turatali” market, 0 row, container # 8.  

5. “Dastan-Karasuu” LLC (license # 5345 dated 24.07.2015 to carry out exchange operations with foreign currency in cash). Legal address: Osh oblast, Karasuu town, “Turatali” market, 0 row, container # 15.  

6. “Turgunbay” LLC (license # 5344 dated 24.07.2015 to carry out exchange operations with foreign currency in cash). Legal address: Osh oblast, Karasuu town, Lenin Street with no number, “Turatali” market, 0 row, container # 21.  

7. “Adilet Biy” LLC (license # 5343 dated 24.07.2015 to carry out exchange operations with foreign currency in cash). Legal address: Osh city, Navoi Street with no number (reference point “Kelechek” market).  

 

8. “Janella” LLC (license # 5342 dated 23.07.2015 to carry out exchange operations with foreign currency in cash). Registration number of the exchange office # 3330. Legal address: Bishkek city, 33/3 Beishenalieva Street.  

 

It should be noted that a letter on registration of additional exchange office "Sofia Travel" LLC was issued with the number 3329 dated 21.07.2015. Legal address: Bishkek city, 24, 3rd micro district. 

 

 

 

Licenses / certificates of the following nonbank financial intermediaries and exchange offices were canceled / revoked: 

 

1. “Oot” credit union (license # 83 dated 28.12.1998 to lend to participants of the credit union is revoked due to self-liquidating). Address: Osh oblast, Chon-Alay district, Daroot-Korgon village. 

2. PE Chencov Oleg Viktorovich (license # 5023 dated 20.07.2012 to carry out exchange operations with foreign currency in cash is revoked due to license expiry). Address: Bishkek city, 166 Jibek Jolu Street.  

3. PE Chencov Oleg Viktorovich (license # 5025 dated 23.07.2012 to carry out exchange operations with foreign currency in cash is revoked due to license expiry). Address: Bishkek city, 124 Kievskaya Street, “Victoriya” exchange office.  

4. PE Sadyrov Argen Japarovich (license # 5027 dated 25.07.2012 to carry out exchange operations with foreign currency in cash is revoked due to license expiry). Address: Issyk-Kul oblast, Karakol city, Toktogul Street without number (intersection with Gorkiy Street).