The regulator noted that the change in transaction conditions are linked to stricter controls imposed by Russian commercial banks when accepting cash rubles from foreign banks, including those from Kyrgyzstan.

According to the National Bank, other countries in the region have faced similar problems.

For example, in Kazakhstan, a number of banks have introduced fees for accepting Russian rubles at cash desks, while some financial institutions in Armenia have completely suspended operations with cash rubles.

The National Bank explained that the current situation has limited the ability of Kyrgyz banks to handle cash rubles. In light of this, commercial banks have revised their tariffs and terms of service to offset increased costs and minimize operational risks.

The National Bank of the Kyrgyz Republic emphasized that the restrictions apply exclusively to transactions with cash Russian rubles. Non-cash payments, including money transfers, continue as usual.

The National Bank stated that it has not imposed any restrictions on the acceptance of cash Russian rubles and has not advised commercial banks to restrict such transactions. According to Kyrgyz law, tariff policy, including the amount of fees for banking services, falls within the purview of the banks themselves and is determined by them independently, taking into account economic feasibility and risk assessment.

The regulator added that it continues to monitor the situation on the domestic foreign exchange market.

It was previously reported that a resident of Kyrgyzstan was unable to exchange Russian rubles for soms at any of the commercial bank branches in Dordoi market area of ​​Bishkek. Several financial institutions explained at the time that due to changes in the procedures for handling cash rubles, Kyrgyz banks faced restrictions when sending them to Russian banks for deposit into correspondent accounts.