In Kyrgyzstan, some banks have stopped accepting money from Russia

Several commercial banks in Kyrgyzstan, including Doscredobank, KICB, Mbank, Keremet Bank, Kompanion Bank, RSK Bank, KSB Bank and Bai-Tushum Bank, have temporarily suspended work with Russian money transfer systems, Interfax reports.

“Due to technical work, the following transfer systems (sending and receiving) are not working at the moment - Astrasend, Unistream, Contact, Zolotaya Korona, Sberbank-Online,” RSK Bank, which occupies one from a leading position in the financial market of the republic (the bank stopped transfers through the Contact system in February, due to the revocation of the license from QIWI Bank).

Mbank, also one of the largest banks in the country, linked the temporary restriction on ruble transfers with “rate volatility and possible sharp fluctuations in the foreign exchange market.” “Bank clients can withdraw funds from bank branches; there are no restrictions on withdrawing Russian rubles from cash desks. In addition, the bank’s clients have the opportunity to transfer electronic messages on financial transactions in rubles to Russian cards,” the bank indicated.

Doscredobank reported that there are no limits on sending a transfer via SWIFT to a bank account. “Regarding transfers and foreign exchange transactions, we cannot provide accurate information, since the systems work intermittently. These questions need to be clarified at bank branches. There are no limits or restrictions. Transfers are issued only if your amount is available,” the credit institution indicated.

Also on June 13, a meeting was held at the NATIONAL BANK of Kyrgyzstan with representatives of the management of commercial banks of the republics, during which the parties noted that changes in the financial markets of the countries that are Kyrgyzstan’s main trading partners will have only a limited impact on the domestic foreign exchange market. “This is due to the fact that the banking sector of Kyrgyzstan has sufficient resources to maintain the stability of the financial sector. The National Bank, if necessary, to maintain a stable situation in the foreign exchange market will take appropriate measures in accordance with the ongoing monetary policy,” the National Bank of Kyrgyzstan said in a statement.

The day before, the United States imposed sanctions against the Moscow Exchange, the National Clearing Center (NCC) and the National Settlement Depository (NSD). After this, the Moscow Exchange announced the cessation of trading in the DOLLAR, euro and Hong Kong dollar. As RBC Investments noted, against the backdrop of sanctions on the currency, increased demand arose - on the evening of June 12, the dollar was sold in some Moscow exchange offices for more than 100 rubles. On June 13, the rate stabilized at a level below 99 rubles.

At the same time, the Bank of RUSSIA announced that companies and citizens can continue to buy and sell US dollars and euros through exchange offices of Russian banks. “All funds in US dollars and euros in the accounts and deposits of citizens and companies remain safe. For deposits and accounts of citizens and organizations in US dollars and euros, the previous regime for issuing funds established by the Bank of Russia is maintained,” the regulator emphasized. The Central Bank also clarified that the official exchange rates of these currencies to the ruble will begin to be determined using bank reporting and information received from digital over-the-counter trading platforms.

Presidential Press Secretary Dmitry Peskov , commenting on US sanctions against the Moscow Exchange, noted that the Central Bank is able to ensure stability in all markets and that the Russian side is developing response actions “that will best suit our interests.”