Protection of rights and interests of members of the Union of Banks of Kyrgyzstan

 

The main objectives of the Union of Banks are:

– Ensuring the protection of rights and representation of the common interests of members of the Union of Banks in the National Bank of the Kyrgyz Republic, state and other organizations of the Kyrgyz Republic;
– Association and coordination of the activities of the members of the Union of Banks to improve the banking system, the legal framework and the development of banking in the Kyrgyz Republic;
– Representation of common interests with the view to developing interregional and international relations among members of the Union of Banks;
– Satisfaction of information needs and professional interests of the members of the Union of Banks.

Management of the Union

Anvar Abdraev

 Anvar Abdraev

President

The Union of Banks of Kyrgyzstan

 

 

 

A.Otunbaeva

Anara Otunbaeva

Director

Training Center of the Union of Banks of Kyrgyzstan

History of the Union

17 banks of Kyrgyzstan took part  at the general meeting of the founders of the Association of Banks was held on September 15, 2005.  The main objective of the meeting was to resolve all organizational and legal issues related to the revitalization of the Association of Banks.

As a result of the general meeting, several decisions were made. The withdrawal from the Association and the accession of new members to the Association of Banks, the Renaming of the Association into the Union of Banks of Kyrgyzstan (SBC), the approval of the new version of the Charter, the selection of the Supervisory Board of the Union of Banks, the selection of the Audit Commission of the Union of Banks and the determination of the amount of membership fees.

Coordination of the work of the new Union was entrusted to the Supervisory Board consisting of the first five heads of commercial banks of Kyrgyzstan: OJSC “Settlement-Savings Company”, CJSC “Demir Kyrgyz International Bank”, OJSC “KyrgyzСredit Bank”, OJSC “Bank-Bakai”, OJSC “Energobank”. The Chairman of the Supervisory Board was Anvar Abdraev – Chairman of the Board of OJSC “KyrgyzCreditBank”.

The functions of the President of the Union of Banks of Kyrgyzstan are temporarily assigned to the Chairman of the Supervisory Board, in accordance with paragraph 9.4. of the Statute.

Later, OJSC “AKB Kyrgyzstan”, CJSC “INEXIMBANK”, OJSC “FinanceCreditBank KAB” joined the Union of Banks of Kyrgyzstan.

Thus, for the first time in the history of the banking system, almost all commercial banks were merged, which was a confirmation of the desire of all members of the Union to work in an organized way to solve issues jointly.

Today the members of the Union of Banks are 24 commercial banks, 2 large microfinance companies, 1 leasing company, 3 associate members.

Money transfers system “Bizdin Companion” – has passed the registration procedure in the National Bank

The JSC Bank Companion – the operator of the money transfers system Bizdin Companion – has passed the registration procedure in the National Bank of the Kyrgyz Republic. 

In compliance with the Rules of making Money Transfers in the Kyrgyz Republic (the NBKR Board Resolution No. 59/6 dated 09.30.2015), the JSC Bank Companion – the operator of the money transfers system Bizdin Companion – was registered in the register of Operators rendering Services via Money Transfer Systems in the Kyrgyz Republic under the registration number 1038210116 on January 21, 2016. 

The National Bank of the Kyrgyz Republic decided to keep the policy rate at 10%

10percentOn December 28, 2015, the Board of the National Bank of the Kyrgyz Republic decided to keep the monetary policy rate at 10.00 percent. 

Despite the ongoing recession and the slowdown in economic activity in the countries — main trading partners, the Kyrgyz Republic still has positive growth, in spite of slight slowdown, due to the decrease of production at the «Kumtor» gold-mining company. Economic growth in January-November of 2015 was 3.6 percent, without «Kumtor» the real GDP growth was 3.8 percent (in January-November 2014 the real growth was 4.0 percent, without «Kumtor» 4.8 percent). 

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