RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 11, 2022 No. 2022-P-09/14-1-(BS)

About temporary restrictions on transactions with cash foreign currency concerning commercial banks, exchange bureaus, the microfinance and microcredit companies of the Kyrgyz Republic

For the purpose of ensuring economic safety of the Kyrgyz Republic and stabilization of situation in the domestic foreign exchange market, being guided by Articles 17, of 36, of 38, 68 and 138 Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides:

1. Before adoption of the relevant decision of Board of National Bank of the Kyrgyz Republic to establish for commercial banks, exchange bureaus, the microfinance and microcredit companies of the Kyrgyz Republic having the license of National Bank of the Kyrgyz Republic for the right of carrying out exchange transactions with cash foreign currency, export ban of cash US dollars out of limits of the Kyrgyz Republic from 17:30 o'clock on March 11, 2022.

2. This resolution becomes effective from the date of official publication and is effective before adoption of the relevant decision of Board of National Bank.

3. To legal management:

- publish this resolution on the official website of National Bank of the Kyrgyz Republic;

- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

4. To management of monetary transactions to bring this resolution to the attention of the commercial banks, exchange bureaus, microfinance companies and microcredit companies of the Kyrgyz Republic having the license of National Bank of the Kyrgyz Republic for the right of carrying out exchange transactions with cash foreign currency, structural divisions, regional managements and representative office of National Bank in Batken Province and also the State Customs Service under the Ministry of Finance of the Kyrgyz Republic and Border service of the State committee of homeland security of the Kyrgyz Republic.

5. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising banking supervision.

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