Kyrgyz Republic

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.

Aibek D. Kadyraliev

Chairman of the State Financial Intelligence Service under the Government of the Kyrgyz Republic

Born January 23, 1978

Place of birth: Bishkek

Nationality: Kyrgyz

Citizenship: citizen of the Kyrgyz Republic

Education: graduated from Kyrgyz-Russian Slavic University (KRSU) named after the first President of Russia B N. Yeltsin in 2000 with a degree in financial and banking management. Attended in 2007 the IMF-sponsored programme "Economies in Transition Countries" at the National Institute of Public Administration, Tokyo, Japan. Completed in 2014 a postgraduate programme in finance and banking at KRSU.

Speciality: Financial and banking management, public administration

Foreign languages:  Russian, English

PROFESSIONAL EXPERIENCE:

Sep. 2000-May 2008 National Bank of the Kyrgyz Republic, economist, leading economist, chief economist;

May 2008-Aug. 2009 Kompanion Financial Group, Bishkek, Kyrgyz Republic, economist, department head;

Aug. 2009-Jun.2014 Economic Management Capacity Building Project (World Bank), involvement in ADB projects, EU consultant, project manager;

Aug. 2014-Dec. 2015 National Bank of the Kyrgyz Republic, adviser;

Dec. 2015-Jul. 2016 Executive Office of the President of the Kyrgyz Republic, department of financial and economic analysis and development monitoring, department head;

Jul. 2016-Jan. 10, 2017 - State Service for Combating Economic Crimes under the Government of the Kyrgyz Republic (financial police), chairman;

Jan. 10, 2017-present - State Financial Intelligence Service under the Government of the Kyrgyz Republic, chairman.

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 .

Authorization

    Upcoming events

    EAG in the news

    07.02.2017
    Participation on the Egmont Group Meetings The Chairman of the State Financial Intelligence Service under the Government of the Kyrgyz Republic, Mr. Aibek Kadyraliev has participated at the Egmont Group of FIUs’ Meetings, which are held from January 30 to February 2, 2017 in Doha, Qatar
    06.02.2017
    The summarizing “round table” "Evaluation of the financing of terrorism risks in the sector of non-profit organizations (NPOs) in the Kyrgyzstan" took place on February 2, in Bishkek The event was organized by the Public Fund "Civiс Participation" together with the State Financial Intelligence Service under the Government of the Kyrgyz Republic, with the technical support of the "Soros-Kyrgyzstan" Foundation and the The International Center for Not-for-Profit Law, as part of the National Risk Assessment of legalization (laundering) of criminal proceeds and financing of terrorism, which is conducted in accordance with the FATF Recommendations
    02.01.2017
    Common projects with the OSCE Programme Office in Astana, 2016 In 2016 the Financial Monitoring Committee of the Ministry of Finance of the Republic of Kazakhstan (hereinafter Committee) and OSCE Programme Office in Astana continue advanced training of people working in the Committee, subjects of financial monitoring, representatives of law enforcement and government agencies, who are responsible for AML/CFT.
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