BISHKEK, Kyrgyzstan, December 3. The Board of the National Bank of Kyrgyzstan issued a resolution introducing a temporary ban on commission fees for money transfers, Trend reports via the bank.
The first part of the resolution prohibits commercial banks and payment organizations from charging fees for domestic money transfers in the national currency, conducted through mobile apps and internet banking, between January 1 and December 31, 2026. The second part applies to international money transfers, prohibiting fees for recipients of transfers made through international systems without opening an account for the same period.
Both initiatives are strategically designed to enhance the accessibility of digital financial ecosystems and facilitate more cost-effective remittance solutions for the populace.
Earlier, delegates from Uzbekistan’s national payment ecosystem UZCARD and the E-commerce Consortium of Kyrgyzstan convened to strategize on fortifying their collaborative framework and sharing best practices in the realms of digital transaction methodologies, virtual commerce, and the evolution of cashless payment infrastructures. The discourse encompassed contemporary e-commerce paradigms within the region, compliance challenges, and prospects for collaborative ventures aimed at amplifying electronic commerce, fostering entrepreneurial ecosystems, and integrating cutting-edge digital solutions into the commercial landscape of both nations.
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