The National Bank of the Kyrgyz Republic has adopted a resolution to launch a pilot project to regulate Russian ruble operations with a duration of six months. JSC 'Kapital Bank of Central Asia' is designated as the clearing bank for cross-border money transfers by individuals and legal entities in Russian rubles from/to the Russian Federation and exchange of cash and non-cash rubles within Kyrgyzstan for amounts exceeding 3 million rubles per month per client. Commercial banks are required to conduct such operations through JSC 'Kapital Bank of Central Asia'. The project was initiated to ensure financial system stability and economic security in conducting transactions in Russian rubles. On April 1, 2025, 100 percent of Kapital Bank shares were transferred to the ownership of the Ministry of Finance, making the state the sole shareholder of the financial institution. The resolution of the NB KR will come into force on April 14, 2025 and be valid until September 17, 2025. Cash ruble operations must be conducted through the clearing bank from April 14, 2025, while non-cash operations – from May 1, 2025.