The Information Policy Service of the Presidential Administration of Kyrgyzstan has denied information disseminated by foreign and anonymous sources about the alleged involvement of Capital Bank of Central Asia JSC in circumvention of sanctions and interaction with sanctioned persons.
According to the Presidential Administration, the bank is state-owned (100 percent of the shares belong to the Ministry of Finance of the Kyrgyz Republic) and was established to ensure the transparency of financial flows and minimize sanctions risks. Claims about the bank’s ties with Ilan Shor (a Moldovan businessman and politician) and sanctioned structures are called untrue, unfounded and aimed at discrediting the financial system of Kyrgyzstan.
The key goal of Capital Bank is to exercise state control over cross-border ruble transactions and prevent the use of financial institutions to circumvent sanctions. All transactions conducted through the bank are checked in accordance with international standards and national legislation on combating money laundering and financing of terrorism (AML/CFT).
It should be noted that the investigation published by IPN claims to have uncovered a major channel that allowed Russia to pay for arms supplies. The basis of this channel, according to the publication, is allegedly the Kyrgyz Capital Bank of Central Asia JSC.
Recently, Capital Bank of Central Asia became a settlement bank for ruble transactions.
