A temporary ban (moratorium) was introduced on licensing activities related to geological prospecting, exploration and gold development

By order of the Government of the Kyrgyz Republic of November 12, 2020 No. 368-r, a temporary ban (moratorium) was introduced on licensing activities related to the right to use subsoil to conduct geological prospecting, exploration and development of gold (primary, alluvial), silver and copper.

The order does not apply to the extension of the validity period of licenses and to the exclusive rights of subsoil users to transform a license for the right to use subsoil.

Link: https://online.toktom.kg/Toktom/DocumentNews/Text?documentCode=164850&editionCode=0&documentLang=rus&forPrint=false

The Ministry of Finance proposes to accumulate funds to pay off the state external debt of the Kyrgyz Republic

On November 19, the Ministry of Finance of the Kyrgyz Republic submitted for public discussion a draft Government resolution "On the accumulation of funds to pay off the state external debt of the Kyrgyz Republic"

The draft Government resolution is aimed at reducing the burden on the state budget to pay liabilities to foreign donors and international financial institutions, as well as the accumulation of funds voluntarily transferred by legal entities and individuals to pay off the state external debt of the Kyrgyz Republic.

As of September 30, 2020, the state external debt is 4,171.13 million US dollars (332,022.03 million soms).

In connection with the incoming requests from the population regarding assistance to the Government of the Kyrgyz Republic in repayment of the external debt of the Kyrgyz Republic, as well as in order to ensure the accounting of the receipt and use of funds for repayment of the public external debt of the Kyrgyz Republic on separate accounts, a draft resolution of the Government of the Kyrgyz Republic was initiated.

Link: https://www.gov.kg/ru/npa/s/2798

The National Bank introduces new terms for the circulation of electronic money

On November 18, the Board of the National Bank of the Kyrgyz Republic adopted a resolution on amendments to the resolution “On approval of the Regulation “On electronic money in the Kyrgyz Republic” dated March 30, 2016.

According to these changes, a number of changes were made to the document. The key ones introduce the following norms:

- the electronic money settlement system of this operator must correspond to the status of the national payment system;

- the bank must maintain a database of acceptors, which must contain at least the details of the contract, the name of the legal entity / full name of the individual entrepreneur, data on the state registration of the legal entity, passport data of the individual entrepreneur, patent, location / address of residence, contact information, information about the type of activity, financial conditions;

- the bank and the bank's agent for providing an extended range of banking retail services are obliged to carry out the procedure for identifying and verifying the holder of an electronic wallet. Identification and verification can be carried out, including remotely;

- the size of the limits, depending on the category of e-wallet holders, must be established in the internal procedures of the bank;

- the operator of the international electronic money system / issuer of international electronic money for the provision of services using international electronic money in the territory of the Kyrgyz Republic must register with the National Bank. Activities without registration with the National Bank are prohibited.

Link: https://www.nbkr.kg/newsout.jsp?item=31&lang=RUS&material=100690

A ban on the export of livestock and some agricultural products introduced

On November 20, in order to prevent a critical shortage and ensure food security of the population of the country, a resolution of the Government of the Kyrgyz Republic was adopted on the introduction of a ban on the export of certain types of agricultural products from the KR outside the customs territory of the Eurasian Economic Union.

The decision was made taking into account the current epidemiological situation in the country.

In accordance with the decision, the ban is valid for six months and does not apply to re-export, transit and humanitarian products.

This prohibition applies to large and small ruminants, poultry, cereals, granulated sugar and other types of agricultural products.

The decree of the Government of the Kyrgyz Republic entered into force on November 19 this year.

The full text can be found at the link: https://www.gov.kg/ru/npa/s/2801