From September 25, 2024, Kyrgyzstan banks have introduced new rules that complicate the process of sending payments to China and Europe. Senders are now obliged to sign the guarantee that the goods will arrive in the republic within 60 days. This information was confirmed by both importers and participants of profile chats in foreign economic activity.
These changes were the result of the decision of the Board of the National Bank of Kyrgyzstan in early September, which imposes an annual ban on the payment of foreign companies of goods, works and services outside the republic without real supply of products. The exceptions will be made only for the government -defined state -owned companies.
The reason for such actions was the requirements of the delegation of the American Ministry of Finance, which in August visited Bishkek. The Ministry of Finance's representatives called on Kyrgyzstan banks to stop providing Russia's services to bypass sanctions, threatening exceptions from dollar payments and SWIFT system. Tax consultant Mikhail Zhovhovitsky noted that these actions can be the reason for the introduction of new restrictions.
The National Bank's resolution is called "On Economic Security and Maintaining Financial Stability". Experts believe that the new rules have virtually destroyed the scheme of payment of goods with further direct supply to Russia, which puts a business in Kyrgyzstan before new challenges.
