BISHKEK, Kyrgyzstan, January 1. The National
Bank of Kyrgyzstan has introduced temporary restrictions on fees
for money transfers, directly affecting the practice of charging
recipients for domestic payouts, Trend reports.
The regulation, approved by the Board of the National Bank, came
into force on January 1 and will remain in effect until December
31, 2026.
Under the new rules, commercial banks and payment organizations
are prohibited from charging fees to recipients of money transfers
sent to Kyrgyzstan through international transfer systems, provided
that the funds are received without opening a bank account.
In practical terms, the measure eliminates fee practices
previously introduced by some operators, including charges of up to
1.5 percent on the receipt of foreign-currency transfers. Banks and
payment organizations are now barred from collecting any service
fees from recipients of international money transfers when the
funds are paid out without account opening.
