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IBC law review for May 14-18

May 20, 2018

The Ministry of Economy of the Kyrgyz Republic initiated a draft Government Resolution "On streamlining the activities of state-owned enterprises". The draft resolution is designed to establish uniform standards for the creation, operation, reorganization and liquidation of state-owned enterprises and increasing the effectiveness of their activities. For instance, the draft resolution clearly delineates the functions of the sectoral state bodies and the State Property Management Fund.

On May 17, the State Service for Regulation and Supervision of the Financial Market submitted for public discussion a draft Law of the Kyrgyz Republic "On Amendments to Certain Legislative Acts in the Financial Market". The draft law aims to effectively implement the Law of the Kyrgyz Republic "On combating the legalization (laundering) of criminal proceeds and financing of terrorist or extremist activities".