Kyrgyzstan’s central bank suspends SWIFT to prevent capital outflow

Kyrgyzstan’s central bank suspends SWIFT to prevent capital outflow

The bank is shutting down the SWIFT network as protests rocked the country. The central bank of Kyrgyzstan has disabled cross-border transactions on the SWIFT financial network amid widespread unrest over the country’s disputed parliamentary elections.Aida Karabaeva, an official representative of the National Bank of the Kyrgyz Republic, announced a temporary suspension of SWIFT in Kyrgyzstan in a statement on Oct. 7.According to Karabaeva, the bank decided to suspend SWIFT transactions in order to prevent capital outflows from the country and ensure the safety of assets. The executive....


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