A group of entrepreneurs from Kyrgyzstan, working with various commercial banks, has sent a letter to the editorial office of VB.KG, expressing their dissatisfaction with the high fees charged by financial institutions. The business community has prepared a collective letter to the leadership of the National Bank of Kyrgyzstan, demanding a review of the tariff policy, specifically to cancel or significantly reduce the fees for transfers to settlement accounts.
The problem lies in the fact that certain financial institutions withhold from the recipient funds ranging from 1% to 1.7% of the amount of interbank transactions. Entrepreneurs warn that such actions by banks not only harm their businesses but also pose a threat to the entire economy of the country. These fees accumulate at all stages of the supply chain, creating an additional financial burden comparable to annual inflation levels.
The authors of the letter note that these fees are unjustified and excessive. The paradox is that entrepreneurs are already paying for the maintenance of their settlement accounts, and additional withholdings for incoming payments are perceived as double taxation by banks. As a result, more and more businesspeople are turning to cash transactions, cryptocurrencies, and other alternative methods to maintain their profitability.
In light of the above, the business community strongly urges the National Bank, as the main regulator, to intervene in the situation and take the necessary measures. The letter outlines specific demands: to cancel fees for incoming interbank transfers, ensure full transparency of tariffs, and protect the interests of small and medium-sized businesses. Entrepreneurs are confident that only a constructive solution to this problem will stop inflation and restore trust in the official banking system.
