RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC AND NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 29, 2023 No. 737/67-7

About approval of the State program on increase in share of cashless payments and calculations in the Kyrgyz Republic for 2023-2027

For the purpose of further increase in share of cashless payments and calculations, development and expansion of application of innovative and digital financial services, according to Articles 13, of 17, of 31 constitutional Laws of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic", Articles 5, 9, 64 of the constitutional Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic and National Bank of the Kyrgyz Republic decide achievements of transparency of currency circulation and reducing shadow economy in the Kyrgyz Republic:

1. Approve:

1) the State program on increase in share of cashless payments and calculations in the Kyrgyz Republic for 2023-2027 according to appendix 1;

2) the Actions plan on implementation of the State program on increase in share of cashless payments and calculations in the Kyrgyz Republic for 2023-2027 (further - the Actions plan) according to appendix 2.

2. To state bodies of management quarterly, to the 15th following the accounting period to provide summary information on course of execution of the Actions plan in National Bank of the Kyrgyz Republic.

3. To provide to the interdepartmental commission on increase in share of cashless payments and calculations in the Kyrgyz Republic formed by the order of the Government of the Kyrgyz Republic and National Bank of the Kyrgyz Republic "About creation of the Interdepartmental commission on increase in share of cashless payments and calculations in the Kyrgyz Republic" of April 25, 2011 No. 189/11/4, coordination of work on execution of the Actions plan and on quarterly basis to consider the report on the course of its execution.

4. Confer the personal responsibility for timely and high-quality execution of the Actions plan on heads of the ministries, the state committee, administrative departments, other state bodies of management.

5. To state bodies, local government bodies of the Kyrgyz Republic (under approval) to take exhaustive measures for possibility of payment for the provided state and municipal services with use of innovative methods (electronic money, Internet banking, mobile banking, QR codes (two-dimensional bar code) of carrying out payments.

6. Recommend to commercial banks, operators of payment systems and payment institutes of the Kyrgyz Republic:

1) to activate holding actions for expansion of bank and payment infrastructures in regions of the Kyrgyz Republic;

2) to take measures for promotion and promoting among the population of innovative methods of carrying out payments (electronic money, Internet banking, mobile banking, QR codes (two-dimensional bar code);

3) to create rates for payment services taking into account increase in their availability to all categories of the population.

7. To impose control of execution of this resolution on management of control of execution of decisions of the President and the Presidential Administration Cabinet of Ministers of the Kyrgyz Republic and National Bank of the Kyrgyz Republic.

8. This resolution becomes effective after seven days from the date of official publication.

Appendix 1

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic and National Bank of the Kyrgyz Republic of December 29, 2023 No. 737/67-7

The state program on increase in share of cashless payments and calculations in the Kyrgyz Republic for 2023-2027

Chapter 1. The main results of implementation of the State program on increase in share of cashless payments and calculations

For the purpose of providing optimum ratio of level of cash and clearing settlements in the country, transparency of currency circulation and decrease in share of shadow economy by the Cabinet of Ministers of the Kyrgyz Republic (further - the Cabinet of Ministers) and National Bank of the Kyrgyz Republic (further - National Bank) with assistance of executive bodies and local government bodies since 2003 State programs on increase in share of cashless payments and calculations step by step were implemented.

Within implementation of the State program on increase in share of cashless payments and calculations in the Kyrgyz Republic for 2003-2008 the foundation for creation of the infrastructure capable to provide effective carrying out payments in the Kyrgyz Republic was laid. As a result of the undertaken reforms of bank and payment systems payment systems of the state value were created.

By 2008 in the Kyrgyz Republic the following payment systems functioned:

- the system of package clearing of small retail and regular payments intended for processing of small and retail interbank payments;

- the single interbank processing center (further - EMPTs) based on Interbank Processing Center private company (further - MPTs Ltd) to which functions by calculations in the market of retail services for goods and services, implementation of salary projects by means of use of the national Elkart payment card are assigned;

- the grossovy settlement system in real time intended for carrying out bystry and final settlements according to transactions in the financial markets to both other large and due payments.

The implementation of actions of the State program on increase in share of cashless payments and calculations in the Kyrgyz Republic for 2018-2022 was directed to achievement of equilibrium ratio of cash and non-cash currency circulation by market development of retail payments, including innovative payment instruments, and increase in level of penetration of banking and payment services in the Kyrgyz Republic.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info