The National Bank has approved a new regulation that introduces minimum requirements for internal control in exchange offices.
The new rules became necessary after the update of legislation on combating money laundering in 2025 and the adoption of new decisions by the country's government.
Kyrgyzstan is aligning with the standards of FATF — an international organization that monitors financial crimes and money laundering.
These innovations are aimed at increasing the transparency of the financial sector and reducing risks associated with cash currency in illegal schemes.
According to the new requirements, exchange offices are obligated to:
- implement an internal control system and appoint a responsible employee;
- verify clients and their documents, as well as, if necessary, the source of funds;
- pay attention to large and unusual transactions;
- identify suspicious transactions and report them to the competent authorities;
- store information about clients and transactions for five years;
- enhance control over high-risk operations.
In case of reasonable suspicion, the exchange office must suspend the transaction and notify financial intelligence.
The new rules will come into effect 15 days after official publication. Since the document was published on December 30, its provisions will take effect from January 14, immediately after the New Year holidays.
