On the Procedure for the Formation and Maintenance of the National Information Fund of Technical Regulations and Standards
The procedure for the formation and maintenance of the National Information Fund of Technical Regulations and Standards has been approved.
The Procedure establishes provisions for the formation and maintenance of the National Information Fund of Technical Regulations and Standards, as well as the rules for its use.
The Fund is an organized collection of documents in the field of technical regulation and quality, and constitutes a public state information resource.
The Fund includes a National Enquiry Point responsible for fulfilling the provisions of the World Trade Organization Agreement on Technical Barriers to Trade (TBT) related to the dissemination of information on standards.
The National Information Fund of Technical Regulations and Standards is maintained by the Center for Standardization and Metrology under the Ministry of Economy and Commerce of the Kyrgyz Republic. The Center cooperates with executive authorities, business entities, public associations, and international and foreign organizations in the fields of technical regulation, standardization, metrology, and conformity assessment in managing the Fund.
This Resolution shall enter into force ten days after its official publication.
On approval of the Procedure for Regulating the activities of legal entities and individuals related to the operation of personal mobility devices
The Procedure for regulating the activities of legal entities and individuals related to the operation of personal mobility devices has been approved. According to the procedure, means of personal mobility devices are understood to mean a vehicle having one or more wheels (castors) designed for personal human movement through the use of an engine(s), including, but not limited to, electric scooters, electric skateboards, gyroscuters, segways, monowheels
The Procedure sets forth the requirements for legal entities and individuals engaged in the provision of paid rental and lease services for personal mobility devices for temporary use, as well as the procedure for the regulation of such activities by local self-government bodies.
This Resolution shall enter into force fifteen days after its official publication.
On Amendments to Certain Legislative Acts of the Kyrgyz Republic (to the Laws of the Kyrgyz Republic “On Road Traffic in the Kyrgyz Republic”, “On State Registration of Rights to Immovable Property and Transactions Therewith”, and “On Pledge”)
The Law of the Kyrgyz Republic “On Amendments to Certain Legislative Acts of the Kyrgyz Republic (to the Laws of the Kyrgyz Republic “On Road Traffic in the Kyrgyz Republic”, “On State Registration of Rights to Immovable Property and Transactions Therewith”, “On Pledge”)” has been signed.
The purpose of this Law is to promote the development of the insurance market in the Kyrgyz Republic by ensuring broad public coverage through mandatory housing insurance and providing citizens with social and insurance protection against unforeseen events and damage to real property in the event of emergencies.
This Law also aims to enhance the legal regulation of secured transactions by ensuring greater legal clarity, transparency, and protection of the interests of all parties involved.
Furthermore, the Law establishes that vehicle owners are obligated to enter into insurance contracts in accordance with the legislation of the Kyrgyz Republic on the mandatory civil liability insurance of motor vehicle owners.
On Amendments to the Code on Non-Tax Revenues and the Code on Offenses
The Law of the Kyrgyz Republic “On Amendments to Certain Legislative Acts of the Kyrgyz Republic (to the Code of the Kyrgyz Republic on Non-Tax Revenues, the Code of the Kyrgyz Republic on Offenses) has been signed. Thus, the Law provides for the following:
The payer is required to maintain documents confirming the payment of non-tax income for the fee for the retention of the license for the right to use subsoil resources for a period of 6 years.
Tax authorities provide assistance to payers in fulfilling their obligations regarding the fee for the retention of the license for the right to use subsoil resources, as well as administer the budgetary resources derived from the fee for the retention of the license for the right to use subsoil resources.
On Amendments to the Constitutional Law “On the National Bank of the Kyrgyz Republic”
The Constitutional Law of the Kyrgyz Republic “On Amendments to the Constitutional Law of the Kyrgyz Republic “On the National Bank of the Kyrgyz Republic” has been signed.
The objective of the Constitutional Law is to initiate a pilot project for the prototype of the national digital currency, the “digital som,” as well as to establish the legal framework and its status.
The Constitutional Law stipulates that the National Bank of the Kyrgyz Republic holds the exclusive right to issue (release) the digital som, determine the procedures for its issuance and circulation, as well as organize and ensure the operation of the digital som platform.
On the Ratification of the Financing Agreement between the Kyrgyz Republic and the International Development Association for the National Community-Driven Development Project
The Law of the Kyrgyz Republic “On Ratification of the Financing Agreement between the Kyrgyz Republic and the International Development Association for the National Community-Driven Development Project initiated by Communities, letters of agreement on a National Project initiated by Communities, signed on November 26, 2024 in Bishkek, was signed.
The agreements aim to improve the quality of education, develop cultural and social sectors, ensure access to water supply and irrigation, modernize transport and energy infrastructure, create conditions for the establishment or expansion of businesses, and create new jobs for women, youth, and vulnerable groups of the population.
On the Establishment of the Policy Rate by the National Bank of the Kyrgyz Republic
By resolution of the Board of the National Bank of the Kyrgyz Republic, the policy rate of the National Bank of the Kyrgyz Republic is set at 9 percent per annum.
This resolution shall enter into force on April 29, 2025.
On the Signing of the Law “On Insurance and Insurance Activities”
The Law of the Kyrgyz Republic “On Insurance and Insurance Activities” (hereinafter referred to as the Law) has been signed.
Law is aimed at establishing a modern infrastructure of the insurance market, ensuring the protection of the rights and lawful interests of policyholders and insured persons, strengthening the financial stability of insurance companies, and promoting the economic development of the Kyrgyz Republic.
The Law regulates insurance as a type of entrepreneurial activity, establishes the legal framework for the incorporation, licensing, regulation, and termination of insurance and reinsurance companies, defines the conditions for the participation of other natural and legal persons in the insurance market, and sets forth the responsibilities of the state in regulating, control, and supervising the functioning of the insurance sector.
On amendments to the Law of the Kyrgyz Republic “On the Payment System”
The Law of the Kyrgyz Republic “On Amendments to the Law of the Kyrgyz Republic “On the Payment System” was signed.
Law was developed following the successful implementation of a special regulatory regime applied to one of the payment organizations for the purpose of testing a limited range of banking operations and services previously reserved exclusively for banks.
The objective of this Law is to expand the range of entities authorized to issue electronic money, thereby promoting the growth of cashless payments and settlements within the Kyrgyz Republic.