Politics and economy

Kyrgyzstan is a parliamentary republic. The parliament of the Republic is the Zhogorku Kenesh.

The Kyrgyz Republic is a leading exporter of mercury and antimony and has enormous hydropower potential.

The country has a two-tier banking system. The upper level is represented by the National Bank of the Kyrgyz Republic, which regulates and licenses banks and a number of other institutions. The second level is represented by 21 commercial banks, one branch of a foreign bank and 2 non-bank specialized financial institutions. The country also has a number of credit unions. The national currency of Kyrgyzstan is the som.

National AML/CFT regime

The Law on Combating Money Laundering and Terrorism Financing (AML) came into force in the Kyrgyz Republic on November 8, 2006.

In 2008-2009 a number of amendments to it were adopted in accordance with the FATF’s Recommendations.

Since September 2005 the Kyrgyz Republic has had a financial intelligence unit (FIU).

The State Financial Intelligence Service of the Kyrgyz Republic is an administrative-type FIU and is not part of the country’s law enforcement or judicial systems. The service is tasked first and foremost with protecting the integrity and stability of the financial system of the Kyrgyz Republic.

The Kyrgyz Republic’s FIU collects and analyzes information on suspicious financial transactions and submits relevant information and materials to the criminal prosecution body when there is sufficient evidence indicating that the financial transaction involves money laundering or the financing of terrorist activities.

Pursuant to the Law on AML/TF and the statute on the service, the financial intelligence unit has signed interagency agreements on mutual cooperation and the provision of information to the National Bank of the Kyrgyz Republic, the State Drug Control Service of Kyrgyzstan, the State Financial Police and other agencies.

Collaboration with its foreign colleagues and international organizations is an important part of the work of the Kyrgyz Republic’s FIU. The financial intelligence service has signed agreements and memorandums of cooperation and mutual support with a number of foreign FIUs.

The Kyrgyz Republic’s FIU has been a member of the Egmont Group since 2009.

The State Financial Intelligence Service of the Kyrgyz Republic is headed by the Chairman, who is appointed to the position and dismissed from it by the President.

MELYS MAMBETZHANOV

Chairman of the State financial intelligence unit under the Government of the Kyrgyz Republic.

Born on November 10, 1972 in Bishkek.

In 1996 graduated from the Kyrgyz state university, specialty "Economics and production management", in 2001 - from the Higher school of political and social sciences of the University Saitama, Japan.

From 1996 till 1997 - Chief economist, Deputy head of division of the National statistical committee of the Kyrgyz Republic;

From 1997 to 1999. - Assistant to the Minister of finance of the Kyrgyz Republic.

From 2000 to 2001. - Head of the department of far-abroad countries of the Department of foreign economic policy of the Ministry of finance.

From 2001 to 2002. - Head of the sector of administrative reforms of the Department of public sector of the Ministry of finance.

From 2002 to 2005. - Head of the Department of budget policy of the budget department of the Ministry of finance.

From 2005 to 2006. - Director of the budget department of the Ministry of finance.

From 2006 to 2007. - Head of the Department of the Ministry of economy and finance.

2007 - Head of the Department of budget policy of the Ministry of finance.

In July 2007 by the decree of the Prime minister of the Kyrgyz Republic was appointed the State secretary of the Ministry of finance of the Kyrgyz Republic,

From 2009 to 2011 - Chairman of the Management Board of JSC "Bank-Bakai".

On February 7, 2011, by the decree of the President of the Kyrgyz Republic was appointed Minister of finance of Kyrgyzstan.

On 19 January 2012 by the decree of the Prime minister of the Kyrgyz Republic was appointed the Chairman of the State financial intelligence unit under the Government of the Kyrgyz Republic.

State adviser of the civil service of the 3rd class, fluent in Kyrgyz, Russian and English.

Cooperation with the EAG

On October 6, 2004 at the founding conference of the EAG in Moscow, the Kyrgyz Republic became a member of the Eurasian group.

In 2007 the Kyrgyz Republic was the first EAG member country to pass the mutual evaluation on the compliance of its national AML/CFT system with international standards.

In July 2008 Kyrgyzstan hosted the 8th Plenary meeting of the EAG .