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Social Fund of Kyrgyzstan plans to create own bank

The Social Fund of Kyrgyzstan plans to create its own bank. Chairman of the Social Fund, Baktiyar Aliyev, told at a briefing.

According to him, the Social Fund gives funds to banks as deposits. «Then financial institutions issue loans, and we get interests at the end of the year. We would like to create our own social bank with the most extensive network. Then we could give loans. It would be profitable for consumers, because the interests will be reduced,» he said.

Baktiyar Aliyev added that at the moment this issue is being worked out. «In a couple of weeks I will present it in the Cabinet of Ministers. They will also consider it, calculate the risks and expediency of its creation. Then we’ll give additional information,» he said.

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