Kyrgyzstan’s Keremet Bank has moved to suspend money transfers routed through Russian banking channels, a decision the institution disclosed on its official website. The move extends beyond Keremet Bank and affects a number of large players in the Russian financial sector, highlighting a broader shift in cross-border payment flows in the region.
The suspension impacts prominent banks such as Sberbank, MTS Bank, and Tinkoff. Transfers are halted in both directions and the pause is described as indefinite. Despite the restriction on sanctioned routes, Keremet Bank customers still retain access to several international transfer methods. Widely used services including Zolotaya Korona, Western Union, and Unistream continue to function as viable options for sending and receiving funds across borders.
The decision follows a parallel move announced the previous day by MBank, which also stopped transfers through Russian financial institutions. The timing suggests a coordinated response among regional banks to evolving sanction regimes and regulatory guidance, underscoring the impact on everyday remittance services used by private individuals and businesses alike.
Company representatives elaborated on the situation, noting that the service is temporarily unavailable and that the pause is planned to extend indefinitely until further notice. The clarity of the communication aimed to manage customer expectations while the banks assess the best paths to restore or reconfigure payment channels in a compliant manner.
MBank added that inbound transfers will continue to be processed using ruble-based details through partner banks that are not subject to sanctions. This approach allows some inflows to proceed, albeit through different routes, and helps minimize disruption for customers who rely on international transfers as part of their daily financial operations.
Earlier developments indicated that Kyrgyz financial institutions were actively seeking alternative partners for SWIFT transfers, aiming to diversify the options available to both residents and businesses as they navigate the shifting sanctions landscape. The emphasis has been on establishing reliable, compliant channels that can sustain cross-border remittances and trade finance despite the ongoing geopolitical constraints.