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  • As of April 9, excess reserves of commercial banks amounted to 892.4 million USD.

    As of April 9, excess reserves of commercial banks amounted to 892.4 million KGS. Such data are given in the statistics of the National Bank of the Kyrgyz Republic.

    As of April 8, excess reserves of commercial banks amounted to 335.6 million KGS, as of April 7 – 238. 45 million KGS.

    At the same time, as of April 1, the amount of excess reserves of commercial banks amounted to 811.4 million KGS.

    It should be noted that as of March 26, banks had a lack of reserves in the amount of 248.72 million KGS.

    Date Fund of commercial banks on correspondent accounts of the NBKR Required reserves Excess (+) / Insufficient (-) Reserves
    01.01.2020 11820,66 10259,45 1561,21
    02.01.2020 11820,66 10259,45 1561,21
    03.01.2020 11820,66 10259,45 1561,21
    04.01.2020 11820,66 10259,45 1561,21
    05.01.2020 11820,66 10259,45 1561,21
    06.01.2020 11820,66 10256,32 1564,34
    07.01.2020 11820,66 10256,32 1564,34
    08.01.2020 11546,66 10256,32 1290,33
    09.01.2020 11455,51 10256,32 1199,19
    10.01.2020 10806,50 10256,32 550,18
    11.01.2020 10806,50 10256,32 550,18
    12.01.2020 10806,50 10256,32 550,18
    13.01.2020 10564,71 10256,32 308,38
    14.01.2020 10166,47 10256,32 -89,85
    15.01.2020 10091,86 10256,32 -164,46
    16.01.2020 10063,08 10256,32 -193,25
    17.01.2020 10822,23 10256,32 565,90
    18.01.2020 10822,23 10256,32 565,90
    19.01.2020 10822,23 10256,32 565,90
    20.01.2020 10254,05 10256,32 -2,27
    21.01.2020 10132,24 10256,32 -124,09
    22.01.2020 10116,81 10256,32 -139,52
    23.01.2020 10097,76 10256,32 -158,56
    24.01.2020 10148,99 10256,32 -107,33
    25.01.2020 10148,99 10256,32 -107,33
    26.01.2020 10148,99 10256,32 -107,33
    27.01.2020 10068,63 10256,32 -187,69
    28.01.2020 10698,44 10256,32 442,12
    29.01.2020 10582,99 10256,32 326,67
    30.01.2020 10750,92 10256,32 494,59
    31.01.2020 11126,36 10256,32 870,04
    01.02.2020 11126,36 10256,32 870,04
    02.02.2020 11126,36 10256,32 870,04
    03.02.2020 10338,48 10431,58 -93,11
    04.02.2020 10201,33 10431,58 -230,25
    05.02.2020 10579,58 10431,58 148,00
    06.02.2020 10360,31 10431,58 -71,27
    07.02.2020 10321,19 10431,58 -110,39
    08.02.2020 10321,19 10431,58 -110,39
    09.02.2020 10321,19 10431,58 -110,39
    10.02.2020 12231,74 10431,58 1800,15
    11.02.2020 10366,78 10431,58 -64,80
    12.02.2020 10203,70 10431,58 -227,89
    13.02.2020 10382,45 10431,58 -49,14
    14.02.2020 10637,32 10431,58 205,74
    15.02.2020 10637,32 10431,58 205,74
    16.02.2020 10637,32 10431,58 205,74
    17.02.2020 10092,28 10431,58 -339,31
    18.02.2020 10180,46 10431,58 -251,12
    19.02.2020 10031,41 10431,58 -400,17
    20.02.2020 10006,43 10431,58 -425,15
    21.02.2020 10023,17 10431,58 -408,41
    22.02.2020 10023,17 10431,58 -408,41
    23.02.2020 10023,17 10431,58 -408,41
    24.02.2020 10174,18 10431,58 -257,40
    25.02.2020 9926,58 10431,58 -505,00
    26.02.2020 10106,92 10431,58 -324,67
    27.02.2020 10458,95 10431,58 27,37
    28.02.2020 12352,37 10431,58 1920,79
    29.02.2020 12165,76 10431,58 1734,17
    01.03.2020 12165,76 10431,58 1734,17
    02.03.2020 10343,80 10717,51 -373,71
    03.03.2020 11022,92 10717,51 305,41
    04.03.2020 10670,39 10717,51 -47,12
    05.03.2020 10874,09 10717,51 156,58
    06.03.2020 10696,86 10717,51 -20,65
    07.03.2020 10696,86 10717,51 -20,65
    08.03.2020 10696,86 10717,51 -20,65
    10.03.2020 11863,09 10717,51 1145,57
    11.03.2020 10883,04 10717,51 165,53
    12.03.2020 10812,76 10717,51 95,25
    13.03.2020 10431,30 10717,51 -286,21
    14.03.2020 10431,30 10717,51 -286,21
    15.03.2020 10431,30 10717,51 -286,21
    16.03.2020 10391,73 10717,51 -325,79
    17.03.2020 10808,54 10717,51 91,03
    18.03.2020 10641,88 10717,51 -75,63
    19.03.2020 10901,68 10717,51 184,17
    20.03.2020 13444,34 10717,51 2726,83
    21.03.2020 13444,34 10717,51 2726,83
    22.03.2020 13396,30 10717,51 2678,79
    23.03.2020 12190,37 10717,51 1472,86
    24.03.2020 12033,47 10717,51 1315,96
    25.03.2020 11716,02 10717,51 998,51
    26.03.2020 10468,79 10717,51 -248,72
    27.03.2020 10758,82 10717,51 41,30
    28.03.2020 10758,82 10717,51 41,30
    29.03.2020 10758,82 10717,51 41,30
    30.03.2020 13716,88 11191,11 2525,77
    31.03.2020 11681,28 11191,11 490,17
    01.04.2020 11810,04 11191,11 618,93
    02.04.2020 12002,50 11191,11 811,39
    03.04.2020 11810,52 11191,11 619,41
    04.04.2020 11810,52 11191,11 619,41
    05.04.2020 11810,52 11191,11 619,41
    06.04.2020 11429,55 11191,11 238,45
    07.04.2020 11429,55 11191,11 238,45
    07.04.2020 11429,55 11191,11 238,45
    08.04.2020 11526,71 11191,11 335,60
    09.04.2020 12083,53 11191,11 892,42

     

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    The volume of export since the beginning of the year amounted to 310.6 million USD, – The National Statistics Committee

    Foreign trade turnover, according to preliminary data, in January-February 2020 amounted to 931 million USD, and compared with January-February 2019 decreased by 1.5%. Such data is provided in the materials of the National Statistics Committee.

    According to statistics, exports increased by 20.3%, while import revenues, by contrast, decreased by 9.7%.

    The volume of exports in January-February 2020 amounted to 310.6 million USD.

    Deliveries of fruits and nuts increased 2.7 times, knitted clothes – 2 times, mil and dairy products – 1.7 times, crude oil – 1.6 times and other goods.

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    National Statistical Committee: The volume of imports since the beginning of the year amounted to 620.8 million USD, a decrease of 9.7%

    Foreign trade turnover, according to preliminary data, January-February 2020 amounted to 931 million USD and compared with January-February 2019, has decreased by 1.5%. Such data are provided in the materials of the National Statistical Committee.

    According to statistics, exports increased by 20.3%, while import revenues, by contrast, decreased by 9.7%.

    The fall in import revenues compared with January-February 2019 is due to a decrease in the import of coal by 8.3 times, leather products – by 2.5 times, cereals – by 2.1 times, shoes – 1.8 times, items of clothing and accessories to it – by 39.9%, fertilizers – by 39.1%, sugar and confectionery from sugar – by 37%, electrical machinery and equipment – by 29.3%, pharmaceutical products – by 19.7 %, plastics and products from it – by 13.7%.

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    The NBKR adopted amendments aimed at solving issues related to the reorganization of banks and coordination of officials

    The National Bank submits a draft resolution of the NBKR Board “On Amending Certain Normative Legal Acts of the National Bank of the Kyrgyz Republic” for public discussion.

    According to the materials of the regulator, the project aims to streamline the issues of ensuring the uninterrupted provision of banking services by reorganized banks, providing banks with opportunity to appoint persons with relevant work experience as managing directors, resolving issues related to requirements for members of the Board of Directors and the Sharia Board, as well as setting standards governing the transparency of the decision-making process at shareholders meetings by the person heading the banking group.

    The project proposes to establish a norm governing the specifics of coordination of managing directors of the bank who are not members of the board and are in charge of cybersecurity and information technology, security, legal support.

    The project also provides for the inclusion in the Regulation “On Licensing the Activities of Bank” of standards allowing to suspend the procedure of approving amendments, and additions to the constituent documents of reorganized banks if it is necessary to carry out an inspection check on compliance with the requirements of the banking legislation by the reorganized banks and the reliability of the information provided by the reorganized banks to exclude cases of violation rights, and interests of bank customers, as well as ensuring continuity provision of banking services.

    Additionally, the project proposes to strengthen the requirements for members of the Shariah Council, namely: to establish the terms for their election by no more than five years, and the requirement that at least one member of the Shariah Council be a citizen of the Kyrgyz Republic, speaking a state and/or official language. The proposed changes are aimed at developing the role of local Sharia scholars practicing the traditional moderate form of Sunni Islam on the basis of the Hanafism religious law school, which is laid down in the Kyrgyz Republic’s Concept of Public Policy in the Religious Sphere for 2014-2020, approved by the Decree of the President of the Kyrgyz Republic dated 14.11.2014, No. 203.

    It is proposed to establish these requirements for members of the Shariah Council of banks, microfinance companies, microcredit companies, credit unions, and OJSC “FCCU”.

    Additionally, a norm has been established that allows BIC to be assigned to branches of reorganizes banks before they re-register with an authorized state body to ensure uninterrupted provision of banking services to bank customers.

    The norms are also established according to which if the majority of the board members have not had at least two years of seniority in positions in the banking and / or financial system in recent years, the National Bank is entitled to suspend approval of members of the board of directors of the bank until its composition in accordance with the requirement, and the bank must, within one month, bring the composition of the board of directors in accordance with the requirements of the Regulation.

    Also, to ensure transparency in the management of the banking group, a norm, in accordance with which a bank headed by a banking group, a bank holding company or a parent / management company controlling a group of legal entities must have approved internal documents governing the implementation of shareholder rights stipulated by law, including the procedure for issuing a power of attorney to participate in meetings of shareholders, the procedure for making decisions on the nomination of candidates for supervising control and other issues referred to the General Meeting of Shareholders has been established.

    It is also proposed to resolve the issues of approving candidates for the positions of members of the board of directors in subsidiary commercial banks, and guarantee funds of the National Bank, if the are employees of the National Bank.

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