Kyrgyzstan Waves Goodbye To Fees For National Currency-Handled Online Transfers
Date
10/24/2024 7:13:49 PM
(MENAFN- Trend News Agency)
BISHKEK, Kyrgyzstan, October 24. Kyrgyzstan is
set to eliminate fees for money transfers conducted online in its
national currency, Trend reports.
The resolution was adopted by the board of the National
Bank.
The ruling has temporarily barred commercial banks and payment
entities from imposing fees on individuals for domestic money
transfer services using mobile applications and internet banking
until December 31, 2025.
"This measure will enhance the accessibility of banking services
for all segments of the population and accelerate the adoption of
digital technologies in the banking sector," the bank reported.
The regulation will take effect one month after its official
publication.
To note, the total number of bank payment cards in circulation
in Kyrgyzstan reached 7.9 million cards at the end of the second
quarter. Compared to the same period last year, the number of cards
increased by 30.8 percent, and since the beginning of the year, by
15.9 percent.
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