The Cabinet of Ministers of Kyrgyzstan has approved new rules governing the issuance and circulation of promissory notes. The resolution and the new regulation on the issuance, circulation, and payment of promissory notes were signed by Chairman of the Cabinet of Ministers Adylbek Kasymaliev.
The decision was adopted to improve financial mechanisms and align the regulatory framework with the Law on the Accession of the Kyrgyz Republic to the Convention Providing a Uniform Law for Bills of Exchange and Promissory Notes (the Geneva Convention).
The procedure for issuing, circulating, and settling promissory notes is expected to become more transparent and compliant with international standards.
The new regulation is expected to improve the circulation of securities in the republic and provide businesses with clearer rules for using promissory notes as both a payment and debt instrument.
