BFC Bulletins Monthly News Digest
Tags Money Transfers Payments Regulation
The Board of the National Bank of Kyrgyzstan has approved amendments and additions to the ‘Law on Electric Money in the Kyrgyz Republic’ in order to clarify the procedure for replenishing an electronic wallet and minimizing the risks when issuing, registering and storing electronic money. Specifically, electronic wallets can be replenished via:
- Bank account transfer
- Transfer from another identified electronic wallet
- Money transfer made via a money transfer system registered with the National Bank
- Deposits made in automated cash-in terminals
The replenishment of an electronic wallet from the personal account of a subscriber to a supplier of goods and/or services, such a mobile phone balance, is not permitted.
