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Kyrgyzstan sells gold bars for 553.5 million soms for 3 years

Since 2015, Kyrgyzstan has sold 196 kilograms of refined gold bars for 553.5 million soms. Lada Orozbaeva, Deputy Head of the National Bank, told journalists.

As she said, the investment tool provides not only purchase, but also sale of the ingots. So, during the implementation of the project, at least 116.4 kilograms of gold were purchased for 335 million soms. Up to date, seven commercial banks have a license to work with precious metals.

«This market should completely switch to the market of commercial banks. Now we are working on the regulatory and legal framework, we want the commercial banks to become the main players in this market,» Lada Orozbaeva concluded.

In addition, the National Bank is considering opening of its own production line for small gold bars in the territory of Kyrgyzstan.