The purpose of this document is to improve the management of budgetary funds and ensure transparency in the processes of their placement. The authorized state body responsible for forecasting and executing the budget will place temporarily available funds in commercial banks in the form of deposits.
Auction for the placement of funds will take place on the platform of CJSC "Kyrgyz Stock Exchange," where banks can submit applications indicating the desired amount and interest rate. The winner will be determined by the highest bid rate.
After placing the funds, a balance must be maintained in the Unified Treasury Account of no less than the monthly wage fund for the republican budget.
The authorized body must also inform the National Bank in advance about the upcoming placement, specifying the volumes for analysis of the impact on liquidity and the foreign exchange market.
To diversify, a limit is set: the amount placed in one commercial bank must not exceed 50% of the total volume of placed funds.
Requirements for Participating Banks
Commercial banks registered in Kyrgyzstan are allowed to participate in the auction, provided they meet a number of minimum criteria: possession of a license from the NBKR, profitability for the last two years, unqualified auditor's opinion, absence of overdue obligations to the budget and the Social Fund, absence of debts to the NBKR and other creditors, as well as the absence of temporary administration and legal disputes with the NBKR.
Deposit Parameters
Deposit terms range from 1 to 12 months but cannot exceed the end of the budget year. Interest will be accrued on a simple scheme, with monthly payments (for deposits up to one month — at the end of the term). There is also a provision for early return of the amount (or part of it) upon written request from the authorized body.
Received interest income will be transferred to a special account of the authorized body in the Unified Treasury Account.
With the adoption of this resolution, previously effective documents regarding the placement of temporarily available funds in commercial banks lose their force, including resolutions No. 135 dated March 11, 2022, No. 704 dated December 22, 2023, and No. 41 dated January 27, 2025.
The resolution comes into force seven days after its official publication. Published in the newspaper "Erkin Too" on December 30, 2025, No. 103.
Procedure
| Appendix | ||
| (to the resolution of the Cabinet of Ministers of the Kyrgyz Republic dated December 26, 2025, No. 839) |
PROCEDURE
for placing temporarily available funds from the budgets of the budget system of the Kyrgyz Republic
Chapter 1. General Provisions
This procedure establishes the procedures and conditions for placing temporarily available funds from the budgets of the budget system of the Kyrgyz Republic in commercial banks by the authorized state body responsible for forecasting and executing the budget.
The following terms and definitions are used in this document:
1) Unified Treasury Account - a centralized account of the authorized state body, where funds from the budgets of the budget system of the Kyrgyz Republic are accumulated and cash execution operations of the budget are reflected;
2) Deposit - the amount placed by the authorized body in a commercial bank for a specified period;
3) Placement Agreement - an agreement between the authorized body and the commercial bank defining the conditions for placing deposits.
The purpose of placing temporarily available funds is effective management of budgetary funds.
The minimum balance of funds in the Unified Treasury Account after placement in commercial banks must be at least the monthly wage fund of the republican budget.
The authorized body notifies the National Bank about the upcoming placement of temporarily available funds, specifying the volumes to consider the impact on liquidity and the foreign exchange market.
Temporarily available funds in foreign currency held in the accounts of the Cabinet of Ministers are also placed in commercial banks according to this procedure.
Interest income from the placement of temporarily available funds must be transferred to a special account of the authorized body in the Unified Treasury Account.
Chapter 2. General Conditions for Placing Temporarily Available Funds from the Budgets of the Budget System of the Kyrgyz Republic in Deposits of Commercial Banks
The auction for placing temporarily available funds among commercial banks will be conducted on the platform of CJSC "Kyrgyz Stock Exchange" on behalf of the authorized body.
The conditions for early return of placed funds are determined by the agreement. The authorized body will notify the National Bank about the early return.
Only those commercial banks that are registered in Kyrgyzstan and meet the minimum requirements are allowed to participate in the auction:
1) possession of a valid license from the NBKR;
2) profitability over the last two years;
3) absence of qualifications in the external auditor's opinion;
4) absence of overdue obligations to the budget and the Social Fund;
5) absence of debts to the NBKR and other creditors;
6) absence of temporary administration and legal disputes with the NBKR.
The process of placing temporarily available funds includes:
1) conducting an open auction where banks submit applications indicating the amount and interest rate;
2) concluding an agreement with the winning bank.
Minimum parameters for deposit operations:
1) currency - national or foreign, at the discretion of the authorized body;
2) deposit term - from 1 to 12 months, not exceeding the end of the budget year;
3) interest accrual - simple interest;
4) interest payment - monthly, for deposits up to 1 month - at the end of the term;
5) income is accrued based on the established interest rate and the actual number of days of placement;
6) provision for early return of the amount (part of the amount) at the request of the authorized body.
Chapter 3. Conditions and Process of Conducting the Auction
Banks wishing to participate in the auction must submit an application in electronic format on the platform of CJSC "Kyrgyz Stock Exchange," providing the following documents:
1) NBKR license for conducting banking operations;
2) financial statements for the last two years;
3) external auditor's opinion for the last year;
4) confirmations of the absence of tax payment delays;
5) confirmation of the absence of temporary administration and legal disputes;
6) confirmation of the absence of debts to the NBKR.
Banks are responsible for the accuracy of the information in the application and the authenticity of the documents.
Banks meeting the requirements will be allowed to participate in the auction, which will be conducted according to the rules of CJSC "Kyrgyz Stock Exchange." The auction consists of several lots, each of which includes a separate placement amount and term.
The winner of the auction is determined by the highest bid. In case of equal bids, the funds are distributed proportionally, and in case of refusal by one of the banks, the amount is transferred to another winning bank.
To minimize risks, a limit is set: the amount placed in one bank must not exceed 50% of the total volume.
The authorized body confirms the results of the auction with a letter in the form according to Appendix 2 to this procedure.
Chapter 4. Conditions for Concluding the Placement Agreement
After confirming the results of the auction, a placement agreement is signed between the authorized body and the winning bank within three working days.
The authorized body places funds in the bank based on the agreement by transferring funds to the deposit account.
Chapter 5. Conducting Settlements for Placement
The procedure for settlements is specified in the placement agreement between the authorized body and the bank.
Expenses for the services of commercial banks are covered from their own funds.
On the day of the end of the placement term, the bank transfers the principal amount and interest to the respective accounts.
The amount and income must be credited by the end of the next working day.
In case of delay, the bank pays a penalty for each day of delay.
In case of non-fulfillment of the terms of the agreement, the authorized body may go to court to impose a lien on the bank's accounts.
Chapter 6. Dispute Resolution
All disputes between the authorized body and banks are resolved in accordance with the legislation of the Kyrgyz Republic.
Chapter 7. Accounting and Reporting
Accounting and reporting on the placement of temporarily available funds are conducted in accordance with the regulatory acts of the Kyrgyz Republic.
| Appendix 1 to the Procedure for Placing Temporarily Available Funds from the Budgets of the Budget System of the Kyrgyz Republic |
APPLICATION
for participation in the auction of commercial banks for placing temporarily available funds from the budgets of the budget system of the Kyrgyz Republic
Date of the auction "___" ________________________ 20__ year
_________________________________________________________________________________
_________________________________________________________________________________,
(full name of the bank)
on behalf of ___________________________________________________________________________
_________________________________________________________________________________,
(position, full name)
informs of its intention to participate in the auction for placing temporarily available funds from the budgets under the following conditions:
| Name | Deposit Amount (soms) | Deposit Placement Term (months) | Starting Interest Rate on Deposit (% per annum) | Bank Rate (% per annum) |
| Lot No. 1 | ||||
| Lot No. 2 | ||||
| Lot No. 3 | ||||
| Lot No. 4 | ||||
| … | ||||
| Total |
We confirm our desire to participate in the auction for placing temporarily available funds from the budgets.
We also confirm that
_________________________________________________________________________________
_________________________________________________________________________________
(name of the bank)
meets the following criteria:
1) possession of a license from the NBKR;
2) profitability in the banking services market for the last 2 years;
3) possession of an unqualified auditor's opinion;
4) absence of debts to the budget and the Social Fund;
5) absence of temporary administration and legal disputes;
6) absence of overdue debts to the NBKR and other creditors;
7) participation in the deposit protection system in accordance with the legislation.
We attach documents on ________ pages.
We appoint an authorized person for operational interaction:
_________________________________________________________________________________
_________________________________________________________________________________
(position, full name, phone)
We request that all information regarding the auction be directed to the authorized person.
Legal address, phone, fax, e-mail:
Banking details:
Additional information can be found on the following websites:
_________________________________________________________________________________
(specifying websites with official information about the bank)
| _________________________ | _____________________ | _______________________________ |
| (position) | (signature) | (full name) |
Seal.
| Appendix 2 to the Procedure for Placing Temporarily Available Funds from the Budgets of the Budget System of the Kyrgyz Republic |
Confirmation of Auction Volumes
CJSC "Kyrgyz
Stock Exchange"
This hereby informs the authorized body about the results of the auction for placing temporarily available funds conducted on "___" ____________________________ 20__ year:
| Auction Lot Registration Number | Offered Volume (soms) | Approved Volume (soms) | Note |
| Total |
The total volume of temporarily available funds offered at the auction on "___" __________________________ 202__ year is _______________________ soms with an initial volume of ________________ soms.
| _____________________________ | _____________________ | _______________________________ |
| position of the head of the authorized state body | signature | (full name) |
