Kyrgyzstan Sees Decline In Off-Bank Cash Ruble Transactions

(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, April 29. Cash ruble transactions in Kyrgyzstan outside the banking sector dropped significantly in the first two weeks after new regulations took effect in 2025, signaling reduced risks of shadow financial flows, Adylbek Kasymaliev, Chairman of the Cabinet of Ministers, said on social media, Trend reports.

"In recent years, the volume of foreign currency transactions, including those in Russian rubles, has significantly increased in Kyrgyzstan-especially through exchange offices operating outside the banking sector. This surge has led to a rise in cash currency circulation and heightened the risks of conducting financial transactions that bypass international sanctions," he said.

Kasymaliev reminded that in 2025 the government centralized certain cash and non-cash ruble operations through the state-owned Capital Bank of Central Asia to enhance transparency and ensure financial stability. The new regulations aim to create secure conditions for money transfers and ensure better control over currency operations.

He emphasized that there are no restrictions on the amount of money that can be transferred. The measures are intended to safeguard the funds of citizens and businesses, improve oversight and transparency, and support the stable functioning of the national financial system.

Money transfers from Russia can still be made through any Russian bank not subject to international sanctions. In Kyrgyzstan, transferred funds may only be received at branches of the Capital Bank of Central Asia.

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