Like some Russian banks, the Kyrgyz commercial banks also cooperate with the Abkhazian commercial banks. To inform the Kyrgyz authorities and prevent this illegal cooperation, President Gotsiridze sent an official letter to Ulan Sarbanov, chairman of the Kyrgyz National Bank, and Kurmanbek Bakiev, prime-minister.Expressing the respect and the wish for close cooperation between the two countries, President Gotsiridze states that: “recently the Abkhazian banks and some Kyrgyz banking institutions (e.g. Asiauniversalbank in Bishkek) have been actively cooperating. The problem is that despite the territorial integrity of Georgia is recognized by the international community, the NBG lacks the possibility to regulate the activities of the Abkhazian banks. Accordingly, the Abkhazian banks are operating without the National Bank license, are not subject to control and inspection, as well as the measures and norms considered under the Georgian legislation. Based on the general principles of the Georgian legislation, including the activities of financial institutions, as well as on the Basel Core Principles for Effective Banking Supervision, the Abkhazian commercial banks should be regarded as illegitimate structures”, says the letter. President stresses the point that uncontrolled activities of the banking system create background for financial machinations – legalization of the illicit income acquired through crime, and for establishing the mechanism of financing various extremist and terrorist groups. By establishing contacts with the commercial banks illegally operating in Abkhazia Kygryz banks may find themselves involved in such illegal activity, which will be negatively reflected not only on their reputation but also on the stability of the Kyrgyz financial system, considers the NBG President. President Gotsiridze asked the Kyrgyz Central Bank President to ask the appropriate agencies to study the problem, and make a decision in consistence with the UN Security Council Resolution, the decisions of the meetings of the CIS country leaders regarding the settlement of the Abkhazian conflict, and the WTO (where Kygryzia is a member) principles. Several days ago President Gotsiridze sent an official letter to the chairman of the Russian Central Bank and the head of the Russian Financial Monitoring Service.