Special regulatory regimes (spetsialnye regulyativnye rezhimy) of the National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic approved six special regulatory regimes between October 2020 and August 2026, letting a microcredit company, three payment and e-money firms and two banks test operations outside its standing rules, judged testing successful and closed for four of them between April 2022 and February 2025, and ended one early with the licence revoked in March 2022.
6 regimes, special regulatory regimes approved and listed in the register, 2026-08-07. 4 regimes, regimes completed with testing judged successful, 2025-02-27. National Bank of the Kyrgyz Republic, Register of special regulatory regimes (Reestr spetsialnykh regulyativnykh rezhimov), retrieved 2026-10-02.
The move, and what it needed
The central bank grants a firm a time-limited special regime, licensed and entered in a public register with start and end dates, to test a named banking or payment operation, then records whether testing succeeded and amends its rules where it did.
Preconditions
- A banking law provision allowing the national bank to set special regulatory regimes
- A public register kept up to date row by row
- Payment and e-money firms with products that standing rules did not allow
Where else it has been used: After the regime run by Regional Payment Systems, the board amended its regulations in May 2024 to remove obstacles to card acquiring by payment system operators, which is the route from test to rule.
Limits: Both counts are ours, made by reading the rows of the register page (dated 2 September 2026): it lists six regimes with approval, start and end dates, the words 'testing judged successful (regime completed)' against four, 'ended early, licence revoked' against the Bakai Bank regime (September 2021 to March 2022), and a sixth, Eldik Bank, approved on 7 August 2026 and testing until August 2027; the page itself states no total. Some regimes list partner institutions (the Interbank Processing Centre) as co-participants, so the count is of regimes, not of every firm involved. Six regimes in six years, about one a year in a country of about seven million people, is a thin flow, and the regime appears only once a firm asks for it rather than through open cohorts. The register says the national bank amended its regulations in May 2024 after the Regional Payment Systems regime, but it does not show whether the other completions led to rule changes. The register is a central bank page only; other Kyrgyz regulators were not checked.