National Bank urges banks to assess validity of fees for cashing currency
The meeting of the Chairman with representatives of commercial banks took place at the National Bank of Kyrgyzstan. Press service of the bank reports.
The head of the National Bank Kubanychbek Bokontaev noted the need for commercial banks to consider current fees for cashing foreign currency in terms of their validity and the needs of the population. The importance of complying with the requirements for work with cash and non-cash foreign currency, the legislation of Kyrgyzstan on countering the financing of terrorist activities and money laundering, and strengthening the internal control system in the activities of banks was stressed.
«Commercial banks were strongly recommended to take measures aimed at improving the quality of customer service and ensuring control over the proper provision of banking services by all divisions of banks, as well as timely explanatory work among customers. Banks need to revise their strategy and focus on improving the quality of assets, maintaining and increasing their customer base by creating favorable conditions for attracting customers and increasing the availability of banking services, including by reducing the interest rate on loans, tariffs and fees for services provided, in in particular, fees for conversion and cashing out of funds in foreign currency,» Kubanychbek Bokontaev said.
