On March 14, 2016 the Monetary Regulation Committee of the National Bank of the Kyrgyz Republic took a decision to decrease the interest rate of «overnight» deposits by 200 basis points to 1 %. The decision is effective as of March 15, 2016.
Held a round table on the theme: “Development of leasing operations in Kyrgyzstan”
On February 17, 2016, the USAID Business Growth Initiative (BGI) Project, in collaboration with the Union of Kyrgyz Banks and ISR Consult, held a round table for 70 representatives of banks, non-bank financial institutions, leasing companies, government agencies, business associations and international financial institutions, to discuss the results of the Kyrgyz leasing market study conducted during the last half of 2015. The study was conducted to better understand the leasing market and what is restricting its growth.
The program for target financing of business
CJSC “Kyrgyz Investment and Credit Bank” became the participant of the program for target financing of business from the Russian-Kyrgyz Fund of Development.
On February 5, 2016 the agreement between CJSC “Kyrgyz Investment and Credit Bank ” and Russian-Kyrgyz Fund of Development on granting to KICB the credit line in the amount KGS 350 million on financing of investment projects in business was signed. The credits will be issued in the national currency by preferential rate 12% per annum for term from 3-60 months.
The President of the Union of Banks of Kyrgyzstan, Anvar Abdraev, met the leaders of the Association of Japanese bankers in Tokyo
Within the program Japan International Cooperation Agency (JICA), “Strengthening business associations”, President of the Association of the Union of Banks of Kyrgyzstan, Mr. Anvar Abdraev, met the leaders of the Association of Japanese banks led by, Director of the Association Mr. Hideharu Iwamoto.
Official Statement of the National Bank of the Kyrgyz Republic, January 13, 2016
Due to the information appeared in certain mass media about imposing of restrictions on foreign-currency sale by commercial banks and exchange offices, the National Bank of the Kyrgyz Republic reports the following.
1. The National Bank did not impose any restrictions on exchange operations for commercial banks and exchange offices. There is currently adequate volume of currency assets in the banking system of the country: the balance of US dollars in commercial banks amounts to USD 408.7 million as of January 11, 2016, US dollars 51.5 million of which are cash and US dollars 357.2 million– non-cash.