The National Bank has fined a payment organisation in Bishkek 110,000 KGS

The National Bank of the Kyrgyz Republic has imposed fines on a payment organisation based in Bishkek. The total amount of the fines was 110,000 KGS.

According to the regulator, the measures were taken for breaching the requirements of Kyrgyz legislation and the National Bank’s regulatory acts.

The decision to impose sanctions was taken following the identification of the breaches. However, the name of the organisation was not disclosed in the National Bank’s statement.

The National Bank regularly supervises the activities of payment organisations and payment system operators to ensure the stability and security of the country’s financial market.