BISHKEK, Kyrgyzstan, January 1. The National Bank of Kyrgyzstan has introduced temporary restrictions on fees for money transfers, directly affecting the practice of charging recipients for domestic payouts, Trend reports.
The regulation, approved by the Board of the National Bank, came into force on January 1 and will remain in effect until December 31, 2026.
Under the new rules, commercial banks and payment organizations are prohibited from charging fees to recipients of money transfers sent to Kyrgyzstan through international transfer systems, provided that the funds are received without opening a bank account.
In practical terms, the measure eliminates fee practices previously introduced by some operators, including charges of up to 1.5 percent on the receipt of foreign-currency transfers. Banks and payment organizations are now barred from collecting any service fees from recipients of international money transfers when the funds are paid out without account opening.