The National Bank fined a payment service provider 165,000 KGS

The National Bank of Kyrgyzstan continues to impose sanctions for violations of the requirements of the law and the regulator’s regulatory legal acts.

According to the National Bank of Kyrgyzstan, fines totaling 165,000 KGS have been imposed on a payment organization located in Bishkek. The reason for this was violations of the republic’s laws and the National Bank’s regulatory acts.

In addition, the Jalal-Abad Regional Office of the National Bank held a Kyrgyz citizen accountable for conducting foreign currency exchange transactions with cash without a license from the regulator. The fine amounted to 17,500 KGS.

Earlier, the National Bank also decided to revoke the registration certificate of MKK “Bay-El Credit” LLC. The microcredit company’s registration was revoked effective June 18 for violating the requirements of the National Bank of the Kyrgyz Republic’s regulatory legal acts.