The Cabinet of Ministers of Kyrgyzstan will introduce amendments to the regulation on the issuance and circulation of bonds. The relevant resolution was adopted to develop the corporate bond market, reduce administrative barriers for issuers, and improve conditions for attracting investment.
The document provides for two main changes.
First, requirements related to gold storage stipulated in the current regulation will no longer apply to state bodies and gold mining companies with 100 percent state ownership, which will be allowed to store gold independently in their own facilities.
Second, the regulatory requirement set out in paragraph 161 of the regulation will be significantly reduced. Instead of a coefficient of 0.3, a rate of 0.01 will be applied, which is expected to make the issuance of corporate bonds more accessible for issuers.
According to the explanatory note, the changes are aimed at stimulating the development of the domestic securities market, eliminating excessive regulatory requirements, and creating more favorable conditions for attracting investment into the country’s economy.
The resolution will enter into force in 15 days after its official publication.
