BFC Bulletins Monthly News Digest
Tags Payments Regulation
The National Bank of Kyrgyzstan has submitted a draft of amendments and additions for public discussion which would ban the replenishment of electronic wallets from mobile phone balances. The move by financial regulators comes after the countries three largest mobile operators have launched electronic wallet services and more than 100,000 Kyrgyz citizens have already started using them. There have been thousands of transactions every day since then, without any recorded cases that indicate a risk of lost funds. Opponents of the move believe the amendments and additions, if passed, would be a direct violation of Articles 20 and 42 of the Constitution of the Kyrgyz Republic, which ensure the rights and freedoms of individuals, including the right of economic freedom.
