"You Tied Your Own Hands." Sadyr Japarov Proposed That the National Bank Sell Bullion Bars Without Requiring Documents

Анна Федорова Banknotes
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- On this day, Sadyr Japarov participated in the ceremonial opening of the new NBKR complex.

The building includes ten different blocks, as well as a specialized storage facility for gold with a capacity of up to 1000 tons, a library, and a history museum.

During the tour, the president familiarized himself with the exhibition of gold bars and asked a question about the sales of bullion bars.

“How are sales of small bars going? Are your prices the same as those of ‘Kyrgyzaltyn’?” Sadyr Japarov inquired.

The chairwoman of the NBKR, Melisa Turgunbaeva, responded that the National Bank's bars are “a bit more expensive.” In response, the president noted that strict requirements for buyers, including the need to provide documents, may hinder sales.

“Do you require documents for sales? Look, you don’t have that many sales, but they have more. Why not sell without requiring documents? You at the NBKR constantly talk about laws and regulations. It turns out you’ve ‘tied your own hands’ and then complain that you can’t ‘speed up’.

“Change the laws, get approval from the Jogorku Kenesh. Times have changed, it’s a market economy: you should be earning more,” the president added.

He also noted that the revenues of the NBKR already amount to billions of dollars, but they should increase to trillions.

“I have been telling you for six months: change the laws and sell openly. It’s more important for you to make a profit, regardless of who buys the gold. If you require documents for the purchase of 1 gram, 100 grams, or 1 kg — no one will buy from you,” Japarov addressed the chairwoman of the NBKR, Turgunbaeva.



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