RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of July 17, 2024 No. 2024-P-09/30-1-(BS)

About the temporary export permit of not shabby cash foreign currency commercial banks of the Kyrgyz Republic

According to articles 9 and 64 of the constitutional Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" the Board of National Bank of the Kyrgyz Republic decides:

1. Suspend the resolution of Board of National Bank of the Kyrgyz Republic "About temporary restrictions on transactions with cash foreign currency concerning commercial banks, exchange bureaus, the microfinance and microcredit companies of the Kyrgyz Republic" of March 11, 2022 No. 2022-P-09/14-1-(BS) concerning commercial banks regarding export of not shabby cash US dollars out of limits of the Kyrgyz Republic till October 1, 2024.

2. Permit commercial banks to export not shabby cash US dollars.

3. When carrying out transactions on export of not shabby cash US dollars it is strict to commercial banks to observe requirements of the legislation of the Kyrgyz Republic in the sphere of counteraction to financing of terrorist activities and to legalization (washing) of the criminal income (PFTD/LPD) for the purpose of elimination of the risks connected with possibility of application of the international sanctions.

4. To provide to commercial banks after carrying out transactions on export of not shabby cash US dollars out of limits of the Kyrgyz Republic within 2 (two) working days information (report) on the specified transaction in National Bank of the Kyrgyz Republic.

5. To legal management within 3 (three) working days from the date of receipt of the relevant documents:

- 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.

6. This resolution becomes effective from the date of official publication and is effective till October 1, 2024.

7. To management of monetary transactions and management of supervision of non-bank financial credit institutions within 3 (three) working days from the date of entry into force of this resolution to bring it to the attention of commercial banks, microfinance and microcredit companies having the right to purchase and sale of foreign currency, exchange bureaus of the Kyrgyz Republic, OYuL "Union of Banks of Kyrgyzstan", OYuL "Association of the Microfinancial Organizations" and OYuL "Association of exchange bureaus "Alyans", and also the Ministries of Economy and Trade of the Kyrgyz Republic, 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.

8. To department "Secretariat of Board" within 3 (three) working days from the date of entry into force of this resolution to bring it to the attention of all structural divisions, regional managements and Representative office of National Bank of the Kyrgyz Republic in Batken Province.

9. 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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