Regulatory Alerts2011-10-13 | 27097On the Procedure for Rounding Tynyum Balance Amounts in Cash Transactions in the Kyrgyz Republic
The Government and National Bank of the Kyrgyz Republic issued Decree No. 631/35/10 on October 13, 2011, to formalize the rounding procedure for tynyum balances in cash transactions following the withdrawal of 10-tynyum coins. The decree requires all economic entities and budgetary institutions to accept tynyum-denomination banknotes and 10-tynyum coins without restriction, deposit them into commercial banks as prescribed, and apply rounding rules for balances up to 50 tynyum effective September 1, 2011. It revokes the February 2008 rounding decree and assigns implementation oversight to the Financial and Credit Policy Department of the Government Apparatus in coordination with the National Bank.
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