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National Bank bans loading e-wallets via mobile phone balance

The National Bank of Kyrgyzstan has amended the provision on electronic money, prohibiting loading of electronic wallets via balance of a cellular phone. The website of the National Bank of the Kyrgyz Republic says.

It is noted that the Board of the National Bank approved changes and additions to the provision on electronic money. The amendments provide for clarifying the procedure for loading the e-wallets and minimizing the risks when issuing, registering and storing electronic money.

It is not allowed to load the electronic wallet via a personal account of a subscriber (user) of a supplier of goods and services, including by refunding the advance payment for goods and services with transfer of the returned advance payment to the electronic wallet.

Activities associated with electronic wallets are not prohibited, but ways for their loading are set. One can do this by transferring money from a bank account, via transfer from an identified electronic wallet, transferring money without opening a bank account through payment systems that have been registered with the National Bank, loading cash in an automated cash-in terminal, at the issuing bank cash desk or via an agent of a commercial bank and (or) payment institution.

The resolution of the Board of the National Bank will come into force fifteen calendar days from the date of its publication on the official website of the bank.

«Please note that all active electronic wallets will be available to users. Before the entry into force of the resolution of the Board of the National Bank, all the mobile operators have to conduct appropriate work with subscribers — holders of electronic wallets in terms of their balances on personal accounts (balances) intended for loading of their e-wallets and (or) making payments in favor of other suppliers of goods and services,» the National Bank commented.