Kyrgyzstan National Bank imposes restrictions aimed at prevention of sanctions violations

15 Oct 2024, 52 mins ago

On 4 September, the National Bank of the Republic of Kyrgyzstan issued a resolution No P-14/41-3-(PS) “On ensuring economic security and maintaining financial stability”, which restricts financial institutions’ ability to accept payments under supply contracts for one year. According to the resolution, the processing of payments under contracts for the supply of goods and services from foreign states shall not be allowed if those goods and services were not physically supplied or provided to the territory of the Republic of Kyrgyzstan.

These measures are aimed at reducing sanctions circumvention risks.

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