On March 6, 2026, the President of the Kyrgyz Republic, Sadyr Japarov, signed an important decree aimed at improving the conditions for Kyrgyz banks to enter international financial markets. This step is expected to enhance the competitiveness of the banking sector and facilitate the operations of financial institutions in foreign jurisdictions.
According to the decree, the National Bank of the Kyrgyz Republic must revise the regulatory framework concerning the operations of Kyrgyz branches abroad within three months. The regulator is tasked with establishing clear requirements for the annual capitalization of such banks, ensuring their financial stability and uninterrupted operation. Additionally, the National Bank must prepare a package of legislative initiatives to implement the provisions outlined in the document.
The document emphasizes issues of security and compliance with legislation. Banks planning to open branches abroad are advised to strictly adhere to both Kyrgyz legislation and the regulations of the host country, as well as international requirements for preventing the legalization of criminal proceeds. Furthermore, it is important to consider the sanctions restrictions in foreign jurisdictions and ensure full transparency in reporting on the activities of foreign branches.
Experts believe that changes in the rules will have a positive impact on the country's economy. For businesses, this will create opportunities for more convenient international transactions and expand financial instruments beyond Kyrgyzstan. Citizens will be able to benefit from higher-quality banking services, including simplified processes for money transfers, account servicing, and the use of national cards abroad.
The decree comes into effect ten days after its publication.
