A major Kyrgyz bank has stopped transferring money through Russian banks

19.08.2024 13:55

A major Kyrgyz bank, MBank, announced that the transfer of funds through Russian banks is currently suspended.

It is indicated that the duration of these measures is currently not determined.

From the message on the official website of MBank it follows: “Transfers will be carried out through those credit institutions that are not subject to sanctions.”

In addition, it is emphasized that money transfers are now carried out using ruble details.

The above restrictions first came into force on August 16 of this year, 2024.

money
Photo: © TUT NEWS

Changing the situation

MBank was a credit institution that stopped working with Russia on money transfer issues after sanctions were imposed on the Moscow Exchange.

As the bank's management explained, the measures were introduced due to the volatility of the Russian currency exchange rate.

In addition, according to MBank representatives, there was a risk of sharp fluctuations in the currency market.

Author: Margarita Sadkovskaya Editor of Internet resources