Economy
Kyrgyzstan Abolishes Fees for Money Transfers via Mobile Apps and Online Banking
As of today, November 25, 2024, a ban on charging fees for money transfers made through mobile applications and online banking has officially come into effect in Kyrgyzstan.
According to the National Bank of the Kyrgyz Republic (NBKR), the resolution prohibits commercial banks and payment organizations from charging fees for individual transactions made in the national currency within the country. This measure will remain in place until December 31, 2025.
The initiative aims to promote non-cash payments, enhance access to digital banking services, foster the development of digital payment systems, and encourage the widespread use of mobile applications.
The move is part of Kyrgyzstan’s broader strategy to modernize its financial infrastructure and support a cashless economy.
