Announced winners of Research Paper Competition among college students  

A Research Paper Competition among graduate and postgraduate students dedicated to the 20th anniversary of the NBKR has ended. Graduates of Kyrgyz-Russian Slavic University, Manas Kyrgyz-Turkish University, Kyrgyz National University, Academy of Management under the President of Kyrgyz Republic, American University in Central Asia, Russian Economic University submitted applications to participate in the competition.  

Topics for the research were quite various. Applicants discussed in their research works issues and problems in such economic trends as financial markets, banks and banking operations, economic growth, external economic relations, state and private debt, currency rate, etc. 

After reviewing and discussing research papers, the valuation committee consisting of both NBKR’s representatives and external experts has made a decision to award the third place to Muratkhanov Anvar Abaskhanovich for his work "Real effective exchange rate and export excluding gold and natural resources. Facts from Kyrgyzstan and Russia." The first and second places were left without owners since no applicants collected passing grades. Promotional prize was granted to Sulaimanova Burulcha Baktybekovna for her work "Analysis of impact of remittance to the GDP growth using simultaneous econometric equations by example of Kyrgyzstan." 

Considering importance and quality of out-of-competition research on the topic "Export, import and exchange rate analysis using VAR-models", its author Oskonbaeva Zamira Zholdoshbekovna was recommended to present her work at the meeting of Research and Expert Board of the NBKR. Meanwhile, the NBKR will consider the possibility for the distinguished student to get an internship in the bank.  

Cash movement in the Kyrgyz Republic  

for the 3rd quarter 2012  

Total amount of cash in circulation as of October 1st, 2012 was 53 562,4 million KG soms, including 2 857,6 million KG soms in commercial banks, the rest in non-bank system.  

In the 3rd quarter 2012 commercial banks in the country in general received 172 101,9 million KG soms, which is greater for 51 372,1 million KG soms or 42,5% compared to the 3rd quarter 2011. 

Commercial banks provided 179 318,2 million KG soms in the 3rd quarter 2012, which is greater for 59 226,7 million KG soms or 49,3 % compared to the 3rd quarter 2011. 

Recurrency of cash to commercial banks for the 3rd quarter 2012 is 96,0%. 

Issued licenses to the following Non-bank Financial Institutions and currency exchange offices:  

1. Private entrepreneur Burkanova Gulnara Erkinovna (license No.5061 dd. 23.10.2012 to conduct exchange operations with foreign currency in cash). Legal address: Osh region, Kara-Suu, Turataly market, row 0, #3; 

2. Private entrepreneur Chuytiev Rakhatbek Kochonovich (license No.5062 dd. 24.10.2012 to conduct exchange operations with foreign currency in cash), registration No. 3050. Legal address: Bishkek, 403 Jibek-Jolu Street, Goin sales outlet. 

Renewed certificates of the following micro credit companies:  

1. Starting from 22.10.2012 renewed accounting registration certificate No.94 dd. 25.09.2007 of PiK and Company Microcredit Company on the basis of NBKR’s order No.47-0 dd. 22.10.2012 after correction of violations resulted in annulment of the certificate. Legal address: Bishkek, Chui avenue, 4А; 

2. Starting from 22.10.2012 renewed accounting registration certificate No.304 dd. 03.08.2010 of Asyl Kapchyk Microcredit Company on the basis of NBKR’s order No.47-0 dd. 22.10.2012 after correction of violations resulted in annulment of the certificate. Legal address: Bishkek, 83-4 Alamedin-1 microdistrict; 

3. Starting from 22.10.2012 renewed accounting registration certificate No.346 dd. 10.03.2011 of Baylyk Finance Microcredit Company on the basis of NBKR’s order No.47-0 dd. 22.10.2012 after correction of violations resulted in annulment of the certificate. Legal address: Bishkek, 58-2 Alamedin-1 microdistrict; 

4. Starting from 22.10.2012 renewed accounting registration certificate No.417 dd. 30.11.2011 of MicroFinance Microcredit Company on the basis of NBKR’s order No.47-0 dd. 22.10.2012 after correction of violations resulted in annulment of the certificate. Legal address: Bishkek, Orto-Say market, Orto-Say sales outlet, office #8. 

Inter-bank payments 

Elcard system indicators