Kylym Bank, another state-owned bank, has been established in Kyrgyzstan. The corresponding decree was signed by the Chairman of the Cabinet of Ministers Adylbek Kasymaliev.
According to the document, Kylym Bank OJSC with 100 percent state share was established.
As explained, the purpose of the new financial institution is to develop the banking sector and the financial system of the Kyrgyz Republic.
The authorized capital of the bank will amount to 1 billion soms, the nominal value of one share — 1,000 soms. By 2027, the authorized capital of the new bank should increase to 5 billion soms.
The Presidential Affairs Department has been instructed to allocate a building for it. The bank should also be provided with necessary equipment and means of communication.
There are four state-owned banks in Kyrgyzstan now: Aiyl Bank, RSK Bank, State Development Bank and Keremet Bank.
