According to this project, starting from March 31, 2026, new exchange offices will have to comply with the following minimum working capital requirements:
- 2.5 million soms — for regions (excluding Bishkek and Osh);
- 5 million soms — for exchange offices located in Bishkek and Osh;
- 1 million soms — for exchange offices with seasonal activities, regardless of their location.
Existing exchange offices will receive a transition period:
- until March 31, 2026 — from 1 to 2 million soms (depending on the region);
- until March 31, 2028 — from 2 to 3 million soms;
- until March 31, 2030 — up to 3 million soms in regions and up to 5 million soms in Bishkek and Osh.
The National Bank noted that these changes are aimed at increasing the financial stability of the sector, reducing the risks of unfair practices, and aligning with international standards, including FATF recommendations. According to the regulator's information, there are 819 exchange offices and 103 microfinance organizations operating in the country, and a conducted risk assessment revealed a high level of vulnerabilities in the area of AML/CFT.
The regulator acknowledges that there may be short-term costs for small market participants, including increased operating expenses and sector consolidation; however, it emphasizes that the phased reform will allow businesses to adapt without abrupt changes. In the long term, an improvement in the transparency of operations, an increase in the quality of supervision, and a rise in public trust are expected.
