Regulatory Alerts2022-04-20 | 130299Regulation on Electronic Money in the Kyrgyz Republic
The National Bank of the Kyrgyz Republic issued this Regulation to establish comprehensive procedures and requirements for operators, issuers, agents, and sub-agents managing local and international electronic money systems within the country. It mandates that all domestically issued electronic money be denominated in som, restricts foreign-currency issuance, and defines strict operational rules for wallet identification, funding methods, cross-border transfers, and settlement processes. Furthermore, the document standardizes contractual obligations between issuers and acquirers, enforces security measures during registration, and sets precise limits and timelines for wallet top-ups and salary payments to ensure system stability and consumer protection.