Since the beginning of the year, inspections by the National Bank of Kyrgyzstan have uncovered 105 individuals engaged in currency exchange without a license, the bank’s press service reported.
According to the bank, regular inspections are carried out in currency exchange locations to protect citizens from fraud and ensure transaction transparency. As a result, 105 individuals conducting illegal currency exchange operations were identified this year.
The total amount of fines imposed reached 1,837,500 soms.
The National Bank reminds the public that only licensed financial institutions are authorized to provide currency exchange services and recommends that citizens use official exchange offices. Legal entities found in violation of the law face fines of up to 55,000 soms under Article 299 of the Code of Offenses.
