Heads of the NBKR and IDB discussed the opportunity of establishment of a new commercial bank in Kyrgyzstan 

Mr. Tolkunbek Abdygulov, Head of the National Bank of the Kyrgyz Republic, and Alternate Manager in the Islamic Development Bank on behalf of Kyrgyzstan held cooperation with the President of the Islamic Development Bank, Mr. Ahmad Mohammed Ali Al-Madani.   

Meeting of Heads of the NBKR and IDB was held on November 11, 2015 as a part of the international financial conference “Islamic financing: response to global aspiration” taking place in Al Kuwait city. Mr. Jusupbek Sharipov, Extraordinary and Plenipotentiary Ambassador of the Kyrgyz Republic in the State of Kuwait, took part in cooperation as well.  

During the meeting, participants discussed prospects for development of the Kyrgyz Republic economy. Meeting attendees discussed matters on establishment of a joint commercial bank to be functioning under the Islamic financing principles. Besides it, in the course of meeting Heads of the NBKR and IDB touched upon the subject of opening of IDBs Representative Office in Kyrgyzstan, further steps to introduce Islamic financial instruments by the NBKR for banks functioning under the Islamic financing principles.  

Licenses have been issued to the following non-bank financial-credit institutions and exchange offices: 

1. “Finance obmen” LLC (license №5401 dated November 11, 2015 for carrying out foreign exchange operations in cash). Registration number of exchange office is №3368. Address: ap. 64, 24 Kalyk Akiev Street, Bishkek 

2. “Tez Finance Credit” MCC LLC (certificate of record registration of the microcredit company №490 dated November 6, 2015). Address: 403 Zhibek Zholu Street, Bishkek.