Published
05/19/2026, 12:33The National Bank of Kyrgyzstan has repealed the regulations that, since 2024, had restricted foreign trade settlements without the actual delivery of goods to Kyrgyzstan.
This refers to the resolution “On Ensuring Economic Security and Maintaining Financial Stability,” adopted on September 4, 2024, as well as all subsequent amendments to it, including those from November 2024 and September 2025.
The National Bank’s Board adopted the relevant decision on May 15, 2026. The resolution will take effect on the date of its official publication.
Initially, the restrictions were introduced amid tighter controls over foreign trade operations and the risks of secondary sanctions. The document prohibited organizations supervised by the National Bank from making payments under contracts between foreign states if the goods, works, or services were not actually delivered to the territory of Kyrgyzstan.
In effect, this was a restriction on so-called transit or “paper” foreign trade transactions, in which Kyrgyz financial institutions were used for settlements between foreign counterparties without the republic itself participating in the delivery of goods.
Initially, the restrictions were introduced for a period of one year; however, the National Bank later relaxed the rules. In November 2024, the document no longer specifically mentioned state-owned companies, and the Cabinet of Ministers was authorized to designate companies permitted to conduct such settlements. Exceptions were also introduced for certain transactions determined by the Cabinet of Ministers.
In September 2025, the regulator effectively extended the restrictions until September 1, 2026, removing the wording regarding the one-year term from the document.
Now, however, the National Bank has completely repealed all these regulations. This means that restrictions on conducting such settlements for supervised organizations are no longer in effect.
