Some Banks in Kyrgyzstan Stop Accepting Money from Russia

Following the expansion of US sanctions, several commercial banks in Kyrgyzstan have ceased operations with Russian money transfer systems. Most of these issues are attributed to technical problems and fluctuations in exchange rates.

Several banks, including Doscredobank, KICB, Mbank, Keremet Bank, Kompanion Bank, RSK Bank, KSB Bank, and Bai-Tushum Bank, have temporarily halted their operations with Russian money transfer systems, according to Interfax.

“Due to technical work, the following transfer systems are currently not operational (for sending and receiving): Astrasend, Unistream, Contact, Zolotaya Korona, Sberbank - Online,” RSK Bank, one of the leading players in the financial market of the republic, announced on its website.

Mbank, which is also one of the largest banks in the country, has linked the temporary restrictions on ruble transfers to “exchange rate volatility and potential sharp fluctuations in the currency market.” “The bank’s customers can withdraw cash from the bank’s branches, and there are no restrictions on the withdrawal of Russian rubles. Additionally, the bank’s customers have the option to transfer electronic messages for financial transactions in rubles to Russian cards,” the bank stated.