Kyrgyz Banks Stop Operations With Cards Of Russian Payment System Mir

(MENAFN- AzerNews) Kyrgyz banks have stopped conducting transactions with cards ofthe Russian payment system Mir, CJSC Interbank Processing Center ofKyrgyzstan, which is the operator of the national payment systemElcart, reported on its website, Azernews reports,citing TASS.

According to the statement, from 12:00 local time (09:00 m time, 06:00 a.m. GMT) on April 3, the following operationsare no longer available for users of Mir cards: card services inacquiring devices (non-cash payments in POS terminals and cashwithdrawals from ATMs), transfers from card to card, e-commerce,Internet payments from cards to accounts of trade and serviceenterprises.

The processing center recalled that in February of this year,the division of the US Treasury Department responsible for controlof foreign assets imposed sanctions against the National PaymentCard System (NSPK), the card operator of the Mir payment system. Inorder to "minimize the risk of secondary sanctions," the Kyrgyzside was then forced to make a decision to refuse to carry outtransactions with Mir cards on the territory of the republic.

The National Bank of Kyrgyzstan told TASS that they do not havethe authority to interfere with the work of commercial banks onsuch issues, and assured that banks have the right to independentlydecide which payment system they work with and which not.

Banks in Kyrgyzstan began refusing to service Mir cards lastautumn due to the threat of coming under Western sanctions. InSeptember-November 2023, 10 out of 22 Kyrgyz commercial bankssuspended transactions with Mir cards but some of them laterabandoned this decision.

There are no branches of Russian banks or their subsidiaries inKyrgyzstan.


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