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KGS – Kyrgyzstani Som

Overview

KGS is considered to be a restricted currency, which implies an inherent limitation to the tradability of this currency. Fund transfers in this currency are not allowed outside of Kyrgyzstan.

Besides this limitation, this currency is considered to be complex: In some cases, the final beneficiaries will have to contact their local branch to release the funds, while in some cases, the beneficiaries might be required to sign documents to authorise the release of funds. This emphasises the importance of adding the beneficiary’s telephone numbers in the payment instructions.

Currency Guidelines

Besides the standard information, it is important to note that the domestic account number format is a sixteen digit account number.

The beneficiary’s physical full address is mandatory.

A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.

Example: Payment of travel expenses – invoice n° 123456789

Additionally, it is mandatory to provide in the remittance information:

• The beneficiary’s telephone number
• The beneficiary’s bank full name
• The beneficiary’s bank full address (exact branch location)

Instructions, technical guidelines & more

To consult the Technical Guidelines of this currency, click here

TECHNICAL GUIDELINES
Additional information

• Available charge options: OUR/SHA/BEN
• Central bank of Kyrgyzstan: http://www.nbkr.kg/index.jsp?lang=ENG