RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of August 7, 2025 No. 477

About carrying out pilot project "Development of payment infrastructure based on Keydzhi's Processing open joint stock company

For the purpose of implementation of modern digital technologies, increase in efficiency of cashless payments, rendering financial services to residents and nonresidents of the country, according to articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Carry out pilot project "Development of payment infrastructure based on Keydzhi's Processing open joint stock company with effective period from August 15, 2025 to August 15, 2026.

2. Determine Keydzhi's Processing open joint stock company (further - JSC Protsessing Keydzhi) as the participant for implementation of the following activities:

1) independently to open correspondent and settlement accounts in foreign banks and the non-bank financial organizations;

2) to perform settlement transactions through correspondent and settlement accounts in foreign banks and the non-bank financial organizations without involvement of resident banks as clearing bank;

3) to open settlement accounts for clients on platform of JSC Protsessing Keydzhi for implementation of financial payments and money transfers for and on behalf of clients of platform or on behalf of JSC Protsessing Keydzhi at the request of clients of platform;

4) to open branches and representations in other countries, to enter the capital of foreign finance companies and banks;

5) to perform activities within the current licenses as payment institute and the operator of payment systems, and also to make other actions directed to goal achievement of the above-stated pilot project.

3. Recommend JSC Protsessing Keydzhi:

1) to take necessary measures for realization of Item 2 of this resolution;

2) to provide compliance with law, applicable to operators of payment systems and to payment institutes, legislations in the sphere of counteraction to financing of criminal activities and to legalization (washing) of the criminal income, and also international obligations of the Kyrgyz Republic.

4. Recommend to National Bank of the Kyrgyz Republic to render assistance in ensuring proper realization of the pilot project specified in Item 1 of this resolution.

5. To impose control of execution of this resolution on management of control of execution of decisions of the President and the Presidential Administration Cabinet of Ministers of the Kyrgyz Republic.

6. This resolution is subject to official publication and becomes effective since August 15, 2025.

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