President signed the constitutional Law on the National Bank of the Kyrgyz Republic.
The document was adopted by the Parliament on June 30, 2022. It defines the legal status, purpose and main tasks, the procedure for organizing activities, functions and powers of the National Bank of the Kyrgyz Republic.
The law provides, among other things, for:
- Increase in the authorized capital of the National Bank at the expense of required reserves;
- The possibility of granting credits/loans by the National Bank to subsidiaries and associates of the National Bank of the Kyrgyz Republic;
- Pursuant to the provisions of the Constitution, the provisions on the functional, organizational and financial independence of the National Bank are specified.
