The project proposes the addition of a new provision to the Civil Code, according to which electronic money will be included in the composition of property.
Thus, funds in digital wallets will be inherited just like traditional bank accounts.
Furthermore, amendments will be made to the Law "On Payment Systems," which will define a clear procedure for actions after the death of the owner of electronic money. Issuers will be required, upon the request of a notary or heirs, to block any outgoing transactions, provide information about the availability of funds, and transfer them to the heirs after confirming the rights to the inheritance.
Changes will also affect the Law "On Banks and Banking Activities," which will stipulate that banks must provide notaries with information not only about the accounts of the deceased but also about the availability of electronic money, safe deposit boxes, metal accounts, and other assets.
The explanatory note states that there are currently over 6.6 million electronic wallets registered in the country, and the lack of clear inheritance rules has already led to conflicts and misunderstandings. The goal of the draft law is to eliminate legal gaps and protect the property rights of citizens.
The project has been agreed upon with the main ministries, the National Bank of the Kyrgyz Republic, and the Notary Chamber. There have been virtually no comments from the agencies, except for some suggestions from the State Committee for National Security, which were not taken into account.
