MP Aisarkan Abdibayeva proposes a draft law on the national currency of the Kyrgyz Republic. The document has been submitted for public discussion.
It is noted that «the bill has been prepared in order to determine the status of the national currency of the Kyrgyz Republic to regulate legal relations arising from the circulation of the national currency, to establish the organizational and legal foundations of monetary policy.»
The deputy noted that the effective development of the country’s economy is largely determined by the state of monetary circulation.
Aisarkan Abdibayeva noted that the currency mix in the Kyrgyz Republic and peculiarities of the circulation of the Kyrgyz som play a very important role and influence all economic processes in the country. Therefore, in her opinion, there is a need to legally regulate the status of the national currency and establish the procedure for monetary circulation, as well as determine the foundations of the state’s monetary policy.
According to her, in the system of lending, buying housing by installments, citizens face difficulties in repaying debts, especially when there is a sharp jump in the exchange rate of a foreign currency or an artificial rise in quotations in the country.
The author of the bill proposes to legally oblige to conduct trade and monetary transactions within the country exclusively in soms. Businessmen who have income and expenses in foreign currency can pay for exports and imports in foreign currency.
Aisarkan Abdibaeva noted that then the som would be able to get international status.
