Banks that fail to submit documents by January 1 will have to raise capital to 5 billion KGS

The National Bank has submitted for public discussion a draft resolution that changes the rules for entering the banking market and gradually increases the capital requirements for existing financial institutions. If adopted, newly established banks will be required to form a charter capital of at least 5 billion KGS immediately (currently 1 billion KGS).

It is proposed that all banks that submit documents after January 1, 2026, establish a minimum authorized capital of 5 billion KGS. This rule also applies to branches of foreign banks.

This means that organizations that do not manage to obtain a license by the end of this year will find themselves in conditions comparable to the requirements for large players — entering the market will become significantly more expensive.

Existing banks will also have to increase their capital, but for them this will happen in stages. Thus, the capital requirement of 5 billion KGS will only come into effect for them in 2030:

• from July 1, 2026 — a minimum of 1 billion KGS;
• from July 1, 2027 — 2 billion;
• from July 1, 2028 — 3 billion;
• from July 1, 2029 — 4 billion;
• by July 1, 2030 — 5 billion KGS.

There are separate requirements for systemically important banks. From July 1, 2026, their capital must be at least 8 billion KGS. It is specified that after obtaining the status of systemic importance, the bank is obliged to bring its capital to the required level within one year, and its own (regulatory) capital within three months.

Banks that were granted permission by the National Bank prior to the adoption of the resolution but have not yet received a license must bring their capital only to the level specified in the phased schedule (1 billion KGS in 2026).

At the same time, when purchasing 100% of the bank's shares, the new owner will be required to increase the institution's authorized capital to 5 billion or 8 billion KGS (if the bank becomes systemically important) within one year.

It should be noted that several new banks are currently being established — Asman Bank, Muras Bank, Kylim Bank, and Alma Finance Bank. However, the question remains open as to whether they will have to raise capital in the amount of 5 billion KGS immediately if they do not manage to obtain a license from the National Bank before January 1, 2026. Formally, they already have permission to establish banks, but the draft resolution does not specify whether the increased capital threshold applies to such cases.

Amid discussions of the new requirements, the country's 22nd commercial bank, Bereket Bank, officially began operations. It was established by the president's younger son, Nurdooool Nurgozhoev, and former speaker Marat Sultanov. It managed to obtain a license on December 3.