A recent appeal from a group of entrepreneurs in Kyrgyzstan, representing various commercial banks, has sparked a discussion about financial mechanisms in the country. They sent a collective letter to the leadership of the National Bank of the Kyrgyz Republic demanding a review of tariffs, particularly regarding fees for interbank transfers.
The problem lies in the fact that many financial institutions charge fees ranging from 1% to 1.7% of the transfer amount, which entrepreneurs believe places a significant financial burden on businesses and threatens the national economy. These fees accumulate throughout the supply chain, which is essentially comparable to annual inflation rates.
The authors of the appeal point out the unjustified and inflated nature of these charges. The situation is exacerbated by the fact that enterprises are already paying for the maintenance of their current accounts, and additional deductions for incoming transfers are perceived as a form of double taxation. As a result, many entrepreneurs are forced to move into the "gray zone," resorting to cash transactions, cryptocurrencies, and other alternative methods to maintain their profitability.
In light of the above, the business community strongly urges the National Bank, as the main regulatory body, to intervene and take necessary measures. In their letter, they put forward specific demands: to abolish fees for incoming interbank transfers, ensure transparency of tariffs, and protect the interests of small and medium-sized businesses. Entrepreneurs believe that only an effective solution to this problem can stop the rise in prices and restore trust in the banking system.
