The Chairman of the National Bank of Kyrgyzstan, Melis Turgunbaev, spoke about the measures being taken to prevent the imposition of secondary sanctions on commercial banks of Kyrgyzstan at a press conference.
According to him, efforts to prevent sanctions are ongoing daily.
«If we weren’t doing this work, we believe the number of sanctioned banks at the state level would be much higher,» the National Bank Chairman noted.
All members of the international working group have completed a special sanctions training course. Companies and banks are informed of the risks, and the National Bank conducts training sessions for the banking sector. Weekly meetings are held to discuss risks and response measures.
Melis Turgunbaev is personally involved in the appealing process. After sanctions were imposed on Keremet Bank, he traveled to the United States, where he met with representatives of the U.S. Department of the Treasury.
Work to lift the sanctions is being carried out in accordance with the law.
«Typically, when a company is sanctioned, there are 40-45 days to resolve these issues,» the National Bank head explained.
He clarified that sanctions against Keremet Bank are set to take effect on March 1, and every possible effort is being made to lift them before that date.
