Sanctions Oversight in Kyrgyzstan Increases The republic continues to tighten oversight of financial transactions, which could lead to sanctions consequences. As of November 5, two state-owned banks have terminated business relations with 284 companies whose activities are associated with increased risks of sanctions. Another 41 organizations are being tested and are being monitored. These data were announced on November 5 at a meeting of the interdepartmental working group led by the Minister of Economy and Trade, the special presidential representative for sanctions policy Bekit Sidikov. Most of the restrictions fell on Eldik Bank, which stopped providing services to 169 companies. Four other organizations are being audited. A-Bank severed business ties with 115 companies, and approximately 37 organizations remain under surveillance. At the same time, the authorities emphasize separately that the existence of an increased risk of sanctions does not mean that the company has violated the law or has already undergone international sanctions. At the meeting, we also discussed interaction with foreign partners, including the European Union, the United States and the United Kingdom. Bekit Sidikov called for continued joint work of government agencies, financial regulators and banks to identify potentially risky transactions before they occur. The scope of tests has increased significantly over the past month. As of October 2, Eldik Bank stopped providing service to about 126 companies, and Va-Bank - about 100. Now their total number has reached 284. At the same time, the authorities take measures against the legal entities themselves. As of October 21, 52 companies ceased their activities, forced liquidation procedures were opened against 57 more and 25 organizations underwent inspections. Earlier Sidikov reported that the banks, together with the National Bank, are strengthening control over customers, end business owners and the purpose of payments.

Sanctions Oversight in Kyrgyzstan Increases The republic continues to tighten oversight of financial transactions, which could lead to sanctions consequences. As of November 5, two state-owned banks have terminated business relations with 284 companies whose activities are associated with increased risks of sanctions. Another 41 organizations are being tested and are being monitored. These data were announced on November 5 at a meeting of the interdepartmental working group led by the Minister of Economy and Trade, the special presidential representative for sanctions policy Bekit Sidikov. Most of the restrictions fell on Eldik Bank, which stopped providing services to 169 companies. Four other organizations are being audited. A-Bank severed business ties with 115 companies, and approximately 37 organizations remain under surveillance. At the same time, the authorities emphasize separately that the existence of an increased risk of sanctions does not mean that the company has violated the law or has already undergone international sanctions. At the meeting, we also discussed interaction with foreign partners, including the European Union, the United States and the United Kingdom. Bekit Sidikov called for continued joint work of government agencies, financial regulators and banks to identify potentially risky transactions before they occur. The scope of tests has increased significantly over the past month. As of October 2, Eldik Bank stopped providing service to about 126 companies, and Va-Bank - about 100. Now their total number has reached 284. At the same time, the authorities take measures against the legal entities themselves. As of October 21, 52 companies ceased their activities, forced liquidation procedures were opened against 57 more and 25 organizations underwent inspections. Earlier Sidikov reported that the banks, together with the National Bank, are strengthening control over customers, end business owners and the purpose of payments.