On amendments to the registration procedure of international payment systems
The amendments have touched upon the procedure of registration of operators of the money transfer system in the Kyrgyz Republic with the National Bank.
In addition, the resolution sets a limit for cashing funds from a bank card through a bank agent – it should not exceed 150 calculation units (i.e., KGS 15,000) per day for one device (POS-terminal) installed with the agent per one payment card.
The Resolution comes into force after fifteen days from the date of official publication.
On approval of the short-term action plan for economic stabilization
In order to stabilize the economy in a short-term perspective, the Government of the Kyrgyz Republic approved the Plan of short-term actions for economy stabilization.
The Plan includes measures to support small and medium businesses and protect investors, support the budget and export-import operations, as well as measures to digitize sectors and reduce administrative barriers and simplify business start-up procedures.
On the establishment of the Council on Economic Reforms under the Government of the Kyrgyz Republic
In order to carry out systematic, comprehensive and coordinated work of the Government of the Kyrgyz Republic, to respond to changes in the economic situation in a timely manner and to develop recommendations to support and develop entrepreneurial and investment activities, as well as to improve the competitiveness of the economy, the Economic Reforms Council under the Government of the Kyrgyz Republic was established, and the composition of the Council and its Regulation were approved.
The Resolution shall enter into force on the day of its official publication.
On amendments to some legislative acts pertaining to the land use
Acting President of the Kyrgyz Republic Sadyr Zhaparov signed the Law of the Kyrgyz Republic “On Amendments to Some Legislative Acts Pertaining to the Land Use (Law of the Kyrgyz Republic “On Introduction of the Moratorium on Transfer (Transformation) of Irrigated Arable Land into Other Categories of Land and Types of Land”, “On Transfer (Transformation) of Land Plots”, Criminal Code of the Kyrgyz Republic).
The Law was adopted by the Jogorku Kenesh of the Kyrgyz Republic on 4 November 2020.
The purpose of this Law is:
– to solve the issues raised by citizens who illegally built dwelling houses on the land plots of irrigated arable land after the Law of the Kyrgyz Republic “On Introduction of the Moratorium on Transfer (Transformation) of Irrigated Arable Land into Other Categories of Land and Types of Territories” is put into effect;
– giving an opportunity to transfer (transform) irrigated arable land not suitable for use in agricultural production or having state acts on private ownership right;
– provides for punishment for unauthorized construction on agricultural lands with violation of their intended purpose.
In this regard, the Law makes appropriate amendments to the Laws of the Kyrgyz Republic “On Introduction of the Moratorium on Transfer (Transformation) of Irrigated Arable Land into Other Categories of Land and Types of Land”, “On Transfer (Transformation) of Land Plots” and the Criminal Code of the Kyrgyz Republic.
The Law shall enter into force upon expiration of ten days from the date of its official publication.
On introducing a temporary ban (moratorium) on licensing activities related to geological prospecting, exploration and gold mining
By the Resolution of the acting Prime-minister of the Kyrgyz Republic, a temporary ban (moratorium) was introduced on licensing activities related to the right to use mineral resources to conduct geological prospecting, exploration and development of gold (indigenous, placer), silver and copper.
This resolution does not apply to renewal of licenses and exclusive rights of subsoil users to transform their licenses for the right to use mineral resources.
On the introduction of a temporary ban on the export of certain types of agricultural goods from the Kyrgyz Republic
A temporary ban has been established for six months on export (export) of certain types of agricultural goods from the Kyrgyz Republic outside the customs territory of the Eurasian Economic Union (except for re-export, transit, as well as humanitarian aid provided by the Government of the Kyrgyz Republic), introduced after five days from the date of entry into force of this resolution.
The Resolution approved the List of these goods, which includes:
- Live cattle
- Sheep and goats alive
- Poultry live: domestic chickens (Gallus domesticus), ducks, geese, turkeys and gooseberries
- Wheat and meslin
- Barley
- Corn
- Fig
- Wheat flour
- Vegetable oil
- Sugar sand
- Chicken eggs
- Salt iodized food cookery
- Feed (hay, straw, compound feed, bran and grain feed).
The resolution becomes effective on the day of signing.
On extension of the temporary ban (moratorium) on inspections of business entities
In order to stabilize the economic situation in the country as soon as possible, the Government of the Kyrgyz Republic by its Resolution dated 2 December 2002 No. 590 has decided to prolong the temporary ban (moratorium) on conducting inspections of business entities till 1 January 2022.
This Decision shall enter into force upon expiration of fifteen days from the date of its official publication.
On introduction of new conditions for electronic money circulation
On 18 November 2020, the Board of the National Bank of the Kyrgyz Republic adopted a resolution on introducing amendments to the resolution “On Approval of the Regulation “On Electronic Money in the Kyrgyz Republic” dated 30 March 2016.
According to these changes, a number of corrections are made to the document. The key of them introduce such norms:
– the system of electronic money settlements of this operator must correspond to the status of the national payment system;
– the bank must maintain a database of acceptors, which must contain at least the details of the contract, the name of the legal entity / name of the individual entrepreneur, data on state registration of the legal entity, passport data of the individual entrepreneur, patent, location / address of residence, contact information, information on the type of activity, financial conditions;
– the bank and the bank’s agent for the provision of an extended range of retail banking services are required to perform the procedure of identification and verification of the electronic purse holder. Identification and verification can also be carried out remotely;
– the size of limits depending on the category of electronic purse holders shall be established in internal procedures of the bank;
– the operator of the international e-money system/emitter of international e-money to provide services with the use of international e-money in the Kyrgyz Republic must register with the National Bank.
Activity without registration with the National Bank is prohibited.