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Foreign Capital Accounts for 49% of Kyrgyz Banking Sector

Monday 11 June 2018

BISHKEK (24.kg) — For the Chairman of the National Bank of Kyrgyzstan, Tolkunbek Abdygulov, the growth of foreign capital in the banking sector of his country is not a problem and stated stated at a meeting of the parliamentary committee on budget and finances that this part makes up 49%.

According to him, 18 out of 25 banks in the country have foreign founders:

We consider these banks as Kyrgyz, as they work under our laws and under the supervision of the National Bank. Recently, investors from the Netherlands and Japan came to the country. They became shareholders of the local banks.

The head of the National Bank also noted that funding under the Islamic lending principles was on rise in the republic:

One bank is fully working according to such principles. Two banks and six microcredit organizations have a section working on this principle.

In 2017, at least 20 banks made profit in Kyrgyzstan.

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