According to the central bank, the banking sector continues to operate steadily, maintaining sufficient liquidity, adequate capitalization and resilience to external risks. All commercial banks are functioning normally and continue to provide customers with the full range of financial services.

The National Bank said it is closely monitoring the situation. If necessary, it will use the powers granted under the laws «On the National Bank of the Kyrgyz Republic» and «On Banks and Banking Activity» to minimize the potential impact of external restrictions on the country’s financial system.

As previously reported, EcoIslamicBank was included in the European Union’s 21st package of sanctions against Russia. According to the EU sanctions register, the bank was designated for allegedly using the System for Transfer of Financial Messages (SPFS) to help Russia circumvent existing restrictions.

In recent years, companies in third countries have increasingly been targeted over suspected sanctions circumvention. Under the EU’s 20th sanctions package, restrictions were imposed on the Bishkek-registered cryptocurrency platform TengriCoin, Keremet Bank and Capital Bank. The package also introduced a complete ban on exports to Kyrgyzstan of computer numerical control (CNC) machine tools and advanced telecommunications equipment.

Between 2024 and 2025, several Kyrgyz commercial entities were also placed under sanctions by the United States, the United Kingdom, the European Union and Canada. They include Capital Bank of Central Asia, Tolubay Bank, Eurasian Savings Bank, the payment platform A7, and the cryptocurrency exchanges Grinex and Meer. The first sanctions against private Kyrgyz companies were introduced in June 2024.

The Kyrgyz authorities have repeatedly described the sanctions imposed on domestic banks as unfounded. President Sadyr Japarov has criticized the Western sanctions from the UN General Assembly podium, calling them direct interference in the country’s internal affairs and pressure that hampers the development of Kyrgyzstan’s still-emerging national economy.