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National Bank: Foreign capital accounts for 49 % of Kyrgyzstan’s banking sector

The growth of foreign capital in the banking sector of Kyrgyzstan is not a problem; it makes up 49 percent now. The Chairman of the National Bank Tolkunbek Abdygulov stated at the meeting of the parliamentary committee on budget and finances.

According to him, 18 out of 25 banks in the country have foreign founders.

«We consider these banks as the Kyrgyz, as they work under our laws and under the supervision of the National Bank. Recently, investors from the Netherlands and Japan came to the country. They became shareholders of the local banks,» said Tolkunbek Abdygulov.

The head of the National Bank noted that funding under the Islamic lending principles was on rise in the republic.

«One bank is fully working according to such principles. Two banks and six microcredit organizations have a section working on this principle,» he said.

In 2017, at least 20 banks completed the year with a profit in Kyrgyzstan.