Kyrgyzstan's National Bank Cancels Commissions For Transfers Through Mobile Applications

(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, November 25. The National Bank of Kyrgyzstan has temporarily canceled the commission fees for transfers made through mobile applications, Trend reports via the bank statement.

According to the statement, the cancellation will be valid until December 31, 2025.

The ban on commission fees applies to transfers made by individuals through mobile applications of banks and payment organizations, as well as through internet banking.

This restriction does not apply to transfers made through payment terminals.

Additionally, the ban on commission fees only applies to transfers in the national currency, the som, including transfers to payment cards of international payment systems issued by commercial banks in Kyrgyzstan.

To note, the total value of transfers to Kyrgyzstan in September 2024 amounted to $284.8 million, which is 44.3 percent more than in September 2023. Specifically, Kyrgyzstan received $274.3 million from the Commonwealth of Independent States (CIS) countries.

By the end of last year, the total volume of money transfers to Kyrgyzstan amounted to $2.7 billion, which is a decrease of 12.3 percent, or $380.4 million, compared to 2022. The majority of this money, totaling $2.55 billion, came from CIS countries, with $2.5 billion from Russia and $16.7 million from Kazakhstan.

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