Chairman of the Cabinet of Ministers Adylbek Kasymaliev initiated the submission of a draft constitutional law under which 100 percent of the National Bank's profit for 2026 must be transferred to the republican budget. The corresponding draft law has already been sent to the Jogorku Kenesh for consideration.

StoriesКабинет министров предлагает направить 100% прибыли НБ в бюджетSlides: 8
  1. Кабинет министров предлагает направить 100% прибыли НБ в бюджет
  2. Cabinet proposes transferring 100% of National Bank profit to budget based on 2026 results. The initiative affects the rules for distributing the National Bank's profit and is aimed at increasing state revenues.
  3. Chairman of the Cabinet of Ministers Adylbek Kasymaliev initiated the submission of a draft constitutional law. The goal is to transfer 100 percent of the National Bank's profit for 2026 to the republican budget.
  4. To implement this, it is proposed to temporarily suspend parts 4 and 5 of Article 12 of the constitutional Law "On the National Bank." This allows directing all regulator profit to the state treasury.
  5. 100 % — National Bank's profit to be transferred
  6. The Ministry of Finance argues this measure is necessary to increase state revenues and ensure financing of current budget expenditures. The funds depend on the actual 2026 financial results.
  7. Key aspects of the proposal: Transfer of 100% of profit to the republican budget; Suspension of parts 4 and 5 of Article 12; Transfer contingent on 2026 financial results; Requires confirmation by an independent external auditor
  8. The Cabinet of Ministers has submitted a draft constitutional law that provides for transferring all of the National Bank's profit to the republican budget based on 2026 results. The initiative affects the rules for distributing the National Bank's profit and is aimed at increasing state revenues.

Changes to the regulation of National Bank profit

To implement this provision, it is proposed to temporarily suspend parts 4 and 5 of Article 12 of the constitutional Law "On the National Bank." This will make it possible to direct all of the regulator's profit directly to the state treasury.

  • The profit will be transferred to the republican budget only after the financial statements are confirmed by an independent external auditor.

Goals and rationale for the initiative

According to the Ministry of Finance, this measure is necessary to increase state revenues and ensure financing of current budget expenditures. The explanatory note states that this provision will make it possible to secure 100 percent of the National Bank's profit for the revenue side of the republican budget to finance budget expenditures.

100% of National Bank profit
2026financial period year

The draft law also provides that the funds to be transferred will depend on the National Bank's actual financial results for the specified year. The Cabinet of Ministers proposes considering this draft law on an extraordinary basis and adopting it in three readings.