“Why do they require proof of the origin of money for 100,000 KGS?” — a deputy on checks at banks and exchange offices

At a meeting of the Jogorku Kenesh, MP Gulya Kozhokulova criticized the requirement for citizens to confirm the origin of their money when exchanging currency at commercial banks and exchange offices.

According to the deputy, financial institutions currently require customers to provide proof of the source of funds for transactions exceeding 100,000 KGS. Kozhokulova noted that this practice causes confusion among citizens and businesses.

The deputy pointed out that the situation on the market is such that the restrictions actually affect ordinary employees.

“Today, many people's official salaries may be 100,000 KGS. This means that every time a person goes to a bank or exchange office, they have to bring certificates,” she stressed.

Kozhokulova also questioned the National Bank's objectives in introducing such requirements and why they were implemented without prior explanation. According to her, neither small and medium-sized businesses nor citizens were properly informed about the new rules.

Separately, the deputy pointed out the contradiction between the declared digitization of financial services and the actual strengthening of bureaucratic procedures.

“Why then is digitization being carried out if citizens have to constantly confirm the same data on paper?” she noted.

In conclusion, Gulya Kozhokulova proposed that the relevant budget committee of the Jogorku Kenesh consider this issue at its next meetings and analyze the feasibility of the current requirements, emphasizing that she considers such an attitude towards citizens to be wrong.