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Operating Requirements for Foreign Banks in Kyrgyzstan

Foreign banks operating in Kyrgyzstan must comply with a set of specific requirements and procedures outlined by the Bank of Kyrgyzstan. While these regulations are not exhaustive, they provide valuable insight into the licensing process, affiliate establishment, and financial obligations.

Licensing Process

The term of consideration for an application submitted by a foreign bank or a bank with foreign investor participation may be extended up to 6 months at the discretion of the Bank of Kyrgyzstan’s Board. This timeframe allows for thorough review of the applicant’s documents and financial situation.

Required Documents

Foreign banks must submit the following documents:

• Statements on establishing an affiliate
• Proof of their financial position
• Proof of their business reputation

Affiliate Establishment and Financial Requirements

Non-resident banks are required to meet specific financial obligations, including:

• Placing a deposit in a financial institution approved by the Bank of Kyrgyzstan
• Endowing their affiliates with capital used as a basis for calculation of economic normatives established by the Bank of Kyrgyzstan

These regulations aim to ensure that foreign banks operating in Kyrgyzstan maintain a strong financial foundation and adhere to local business practices.