Kyrgyzstan introduces temporary changes for money transfers

Bishkek, April 19, 2022. / Kabar /. Temporary changes are made to the Rules of Money Transfers through money transfer systems in Kyrgyzstan, the National Bank of the republic said Tuesday. The payment systems on the territory of Kyrgyzstan work in the normal mode. Meanwhile, in order to ensure economic security of the Kyrgyz Republic and stabilize the situation in the domestic foreign exchange market, the National Bank adopted temporary amendments to the Rules of Money Transfers through money transfer systems in the Kyrgyz Republic. The changes are temporary in nature and establish requirements for the currency of receipt of remittances by international money transfer systems in the territory of Kyrgyzstan. Money transfer can be received in the currency of the sending country. Conversion of money transfer into another currency shall be carried out in accordance with the legislation of the Kyrgyz Republic. Upon consent of the recipient/sender located in the territory of the Kyrgyz Republic, the money transfer can be converted by non-cash method upon receipt/sending.