Regulatory Alerts2019-08-14 | 129920Regulation on the Procedure for Conducting Exchange Operations with Cash Foreign Currency in the Kyrgyz Republic
The National Bank of the Kyrgyz Republic establishes the regulatory framework for commercial banks, microfinance companies, credit unions, and exchange bureaus to conduct cash foreign currency exchange operations. The regulation mandates strict compliance with anti-money laundering protocols, including mandatory client verification for transactions exceeding 100,000 som and immediate reporting of suspicious activities to the Financial Intelligence Unit. It further standardizes operational requirements such as public exchange rate display, record-keeping, and the use of authorized reporting portals to ensure transparency and financial security.
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