The National Bank of Kyrgyzstan earlier on September 4 published Board Resolution No. 2024-P-14/41-3-(PS) "On Ensuring Economic Security and Maintaining Financial Stability".
According to it, from September 26, 2024 [three weeks after the official publication of the resolution, — editor's note], banks in Kyrgyzstan are prohibited for one year from "accepting for execution payment orders and otherwise making settlements under contracts concluded by other persons, the subject of which are goods, works and services, coming from foreign states or to foreign states, without actual delivery to the territory of the Kyrgyz Republic, except for authorized state companies determined by the Cabinet of Ministers of the Kyrgyz Republic".
As Daniyar Amangeldyev, Minister of Economy and Commerce of Kyrgyzstan, explained to RIA Novosti, the National Bank made this decision "to streamline trade flows".
Without actual delivery - this will simplify, will help our entrepreneurs precisely in making payments. The banks will have a clear picture: it will be possible to cut off dubious transactions.
The Minister assured that transactions will now be handled by a new body by decision of the government: the state Kyrgyz trading company, where "operations will be cheaper than in banks."
As Amangeldyev emphasized, there are no restrictions on current payments. And in general, Kyrgyzstan is simplifying procedures and creating "all the conditions for these trade operations to be more transparent."
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