National Bank of Kyrgyz Republic (Central Bank of Kyrgyz Republic)

By: EconomyWatch   Date: 9 September 2010

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National Bank of Kyrgyz Republic is the central bank of the Kyrgyz Republic. The National Bank of the Kyrgyz Republic’s status, tasks, functions, organization and the principles on which the banks was to function were legally set by the Constitution of the Kyrgyz Republic and the Law of the Kyrgyz Republic “On the National Bank of the Kyrgyz Republic” of July 29, 1997.

The main objective of the bank is to achieve and maintain price stability in the economy through relevant monetary policy. The main objective that helps the bank achieve its goals is supporting the purchasing power of the national currency, ensuring security and reliability of the banking and payment system of the Kyrgyz Republic. The bank, in order to achieve its objectives, carries out its functions independent of the state-run public authorities.

The main functions of the bank are:

  • Determine, formulate and implement the monetary policy in the country
  • Monitoring and supervising the activities of the banking and financial-credit institutions that have been licensed by the bank
  • Formulating and implementing a unified exchange rate policy

 

  • Issuing the currency and controlling its circulation
  • Ensuring effective functioning of the payment system
  • Formulating rules and procedures to conduct banking transactions, accounting and reporting for the banking system

The Board of the National Bank of the Kyrgyz Republic is responsible for the management of the bank. The Board is responsible for defining the broad contours of activities within which the national bank is supposed to function. The Board in turn is responsible for carrying out those functions as has been defined in the Law “On the National Bank of the Kyrgyz Republic.”

The Address and Contact details of the bank is as follows:

National Bank of the Kyrgyz Republic

Address: Umetalieva St., 101 Bishkek 720040 KYRGYZ REPUBLIC Phone No.: ++7-3312-21 75 93 Fax: ++7-3312-21 74 27


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