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Kyrgyzstan Exempts State Development Bank From National Bank Oversight
(MENAFN- Trend News Agency)
BISHKEK, Kyrgyzstan, November 4. Amendments to
the constitutional law on the National Bank of the Kyrgyz Republic
have come into effect following their signing by the president and
publication on October 31, Trend reports via the Kyrgyz government.
Under the new provisions, the State Development Bank of the Kyrgyz Republic (SDB) is no longer subject to the jurisdiction of banking legislation or the regulatory oversight of the National Bank. The SDB will now operate independently, without requiring a license or supervision from the central bank.
The law will officially enter into force ten days after its publication.
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