A group of entrepreneurs from Kyrgyzstan, consisting of clients from various commercial banks, has reached out to the editorial office of VB.KG for assistance in combating financial pressure from banks. They have prepared a joint statement to the leadership of the National Bank of the Kyrgyz Republic, insisting on a radical review of tariffs, including the complete elimination or significant reduction of fees for transfers to settlement accounts.
The problem is that some financial institutions charge recipients a fee ranging from 1% to 1.7% for conducting interbank transfers. This raises serious concerns among entrepreneurs: such actions by banks not only harm businesses but also pose a threat to the economy of the country as a whole. These fees accumulate throughout the supply chain, creating an additional financial burden comparable to annual inflation rates.
The authors of the appeal emphasize that the amounts of these fees are unjustifiably high. The paradoxical situation is that businesses are already paying for the services of maintaining their settlement accounts, and additional deductions for incoming payments are perceived as double taxation by the banks. As a result, many entrepreneurs are moving into the "gray zone": they are increasingly reverting to cash transactions or using cryptocurrency and other alternative methods to maintain their profitability.
In light of the above, the business community urges the National Bank, as the main regulator, to intervene and take action. In their letter, they put forward specific demands: to abolish fees for incoming interbank transfers, ensure transparency of tariffs, and support small and medium-sized businesses. According to the entrepreneurs, only a constructive approach to resolving this issue will prevent price increases and restore trust in the official banking system.
