On November 12, 2012 the Board of the National Bank of the Kyrgyz Republic has reviewed and approved by passing relevant resolution a provision on the procedure of conducting credit auctions by the National Bank for refinancing purposes. 

 

Bai-Tushum and Partners Microfinance Bank CJSC - a new member of the banking system of Kyrgyzstan. 

 

On November 14, 2012 Bai-Tushum and Partners Microfinance Bank has obtained a license to conduct banking operations. Formation of the new bank will increase access of the population to banking services. Since Bai-Tushum and Partners Microfinance Bank has already taken its place in financial and credit system of the Kyrgyz Republic and has an extensive network of structural separate divisions, its customers will be able to enjoy a wide range of banking services. 

When joining the banking system of the country, the performance indicator of Bai-Tushum and Partners Microfinance Bank will have a certain impact on performance of the whole sector. So, as of December 31, 2011 the paid-up share capital of the banking system of the Kyrgyz Republic was 8362, 4 million soms. If the paid-up share capital of Bai-Tushum and Partners in the amount of 615.0 million soms is included to the paid-up share capital of the banking system, it will respectively make up 8 977.4 million soms. In terms of percentage, the share of paid-up capital of Bai-Tushum and Partners will be 6.9% of total paid-up equity capital of the banking system, ranking the 5th place in terms of capital in the banking system. 

Assets of Bai-Tushum and Partners Microfinance Bank amounting to $ 4.7 billion soms, makes up 6.0% of the total assets of the banking system in the Kyrgyz Republic, which allows it to take the 5th place by this indicator in the sector. 

The share of liabilities of Bai-Tushum and Partners Microfinance Bank will be 5.9% of the total liabilities of the banking system in the Kyrgyz Republic. Inclusion of such a large microfinance institution as Bai-Tushum and Partners as a commercial bank in the banking system of Kyrgyzstan will make significant in this sector. 

 

REFERENCE 

 

Bai-Tushum and Partners Microcredit Company LLC received the National Bank license to provide micro loans and has been operating in Kyrgyzstan since December 2005. Starting from 2009 Bai-Tushum and Partners Microcredit Company LLC was reorganized into Bai-Tushum and Partners Microfinance Company CJSC. Since July 2011, Bai-Tushum and Partners Microfinance Company CJSC has been providing services in receiving time deposits from individuals and legal entities. In March 2010, the companys share capital was increased up to 615 000 thousand soms. 

 

Application for receiving a license to conduct banking operations in national and foreign currencies with set of documents from Bai-Tushum and Partners Microfinance Company CJSC was submitted to the National Bank on February 24, 2012. The final document was handed to the National Bank on 18.07.2012. 

 

A decision to provide to Bai-Tushum and Partners Microfinance Company CJSC a preliminary authorization to receive licenses to conduct banking operations in national and foreign currencies was adopted by the Board of the National Bank on 12.09.2012. 

 

After meeting all the requirements of regulations in accordance with the above decision, on 12.11.2012 the National Bank issued a license to Bai-Tushum and Partners Microfinance Bank CJSC to conduct banking operations in national and foreign currencies. 

 

The licenses of Bai-Tushum and Partners are included in the Register of Issued Bank Licenses under the numbers 050 and 050/1 dd. 13.11.2012. 

 

 

Issued licenses/certificates to the following Non-bank Financial Institutions and currency exchange offices:  

 

1. Private entrepreneur Tashpolotov Abdulkhamit Abdumutalibovich (license No.5064 dd. 16.11.2012 to conduct exchange operations with foreign currency in cash). Legal address: Osh region, Nookat, central market, stand #3; 

2. Private entrepreneur Ezafovich Irina Borisovfna (license No.5065 dd. 16.11.2012 to conduct exchange operations with foreign currency in cash), exchange office registration No. 3051. Legal address: Bishkek, 44 Chui Avenue, Irina Exchange Office; 

3. Incom Capital Mircocredit Company (accounting registration certificate No. 470 dd. 12.11.2012 to provide micro loans to legal entities and individuals). Legal address: Bishkek, 4/3 Razzakov Street.  

4. AKTAN-credit Mircocredit Company (accounting registration certificate No. 471 dd. 13.11.2012 to provide micro loans to legal entities and individuals). Legal address: Bishkek, Archa-Beshik microdistrict, 50 Kerme-Too Street; 

5. Grameen Credit Mircocredit Company (accounting registration certificate No. 471 dd. 14.11.2012 to provide micro loans to legal entities and individuals). Legal address: Bishkek, 134 Akhunbaev Street. 

 

 

Annulled certificates/licenses of the following Non-bank Financial Institutions:  

 

1. Starting from 14.11.2012 annulled license of Bai-Tushum and Partners Microfinance Company No.4 dd. 01.09.2009 due to the reorganization of Microfinance Company to Microfinance Bank Bai-Tushum and Partners. Legal address: Bishkek, 216 Toktogul Street. 

2. Starting from 16.11.2012 annulled accounting registration certificate of Zholdosh-Ata Microcredit Company No. 345 dd. 02.03.2011 to provide micro loans to legal entities and individuals based on the shareholders resolution of Zholdosh-Ata Microcredit Company dd. 15.11.2012 on liquidation of company due to the lack of funds. Legal address: Osh region, Osh, 3 Nurmatov Street. 

3. Starting from 16.11.2012 annulled accounting registration certificate of Economic-Take-PF Microcredit Agency No. 35 dd. 23.05.2003 to provide micro loans to legal entities and individuals based on the resolution of the NBKR Issyk-Kul Regional Department No.10 dd. 16.11.2012 for violation of "Provision on periodic regulatory reports of MCC/MCA." Legal address: Issyk-Kul region, Balykchy. 

 

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Inter-bank payments 

Inter-bank payment system indicators (IPS) 

 

Total IPS 

including 

Clearing system 

Gross system 

amount, KGS 

quantity, units 

amount, KGS 

quantity, units 

amount, KGS 

quantity, units 

Indicators for the period of November 12-16, 2012 (accounting period) 

Absolute value 

15 250 907 421,21 

49 024 

1 760 523 528,83 

45 390 

13 490 383 892,38 

3 634 

Share in IPS (%) 

100,0 

100,0 

11,5 

92,6 

88,5 

7,4 

including 

 

 

 

 

 

 

(%) : 

0,1 

1,4 

0,7 

1,5 

0,0 

0,0 

Net position of Integrated Inter-bank Processing Center 

13,4 

7,3 

19,5 

7,8 

12,6 

1,0 

Outgoing Central Treasury 

16,6 

37,0 

19,9 

39,8 

16,1 

2,9 

Incoming Central Treasury 

0,02 

0,4 

0,1 

0,4 

0,0 

0,0 

Outgoing Social Fund 

0,9 

8,1 

8,1 

8,8 

0,0 

0,0 

Average-weekly indicators for the previous month 

Absolute value 

14 065 560 973,28 

47 858 

1 518 841 331,70 

44 676 

12 546 719 641,59 

3 181 

 

Deviation of accounting period indicators from average-weekly indicators for the previous month 

Absolute value 

1 185 346 447,93 

1 166 

241 682 197,13 

714 

943 664 250,79 

453 

8,4 

2,4 

15,9 

1,6 

7,5 

14,2 

 

Elcard system indicators 

 

As of  

09.11.2012 

16.11.2012 

Total number of issued cards (excluding reissued cards) 

153 761 

154 899 

Number pos-terminals: 

- in banks  

- in sales outlets  

811 

550 

261 

811 

550 

261 

Number of ATMs 

247 

247