President Sadyr Japarov signed a constitutional law amending the Law «On the National Bank of the Kyrgyz Republic,» which clarifies the legal status of the State Development Bank (SDB).
According to the document, banking legislation no longer applies to the activities of the State Development Bank of the Kyrgyz Republic. This means that the SDB will have a special legal regime distinct from commercial banks.
Furthermore, the law includes a provision stating that the National Bank of the Kyrgyz Republic will no longer license, supervise, or regulate the activities of the SDB.
Thus, the State Development Bank will become an independent financial institution, operating under separate rules established by the government.
