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🇰🇬 Kyrgyzstan /Economy & Trade

Kylym Bank functions to be transferred to Presidential Affairs Department in Kyrgyzstan

From 24.kg · () Russian

Translated from Russian, summarized and contextualized by DistantNews.

At a glance

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  • Kyrgyzstan's President Sadyr Japarov has signed a decree transferring the functions of shareholder powers for Kylym Bank OJSC from the Ministry of Finance to the Presidential Affairs Department.
  • The decision aims to improve the bank's efficiency, with the decree taking effect in 10 days.
  • Kylym Bank, established in January 2025 with 100% state ownership, plans to increase its authorized capital significantly by 2027.

Kyrgyzstan's President Sadyr Japarov has ordered the transfer of shareholder powers for Kylym Bank OJSC from the Ministry of Finance to the Presidential Affairs Department. The decree, signed by Japarov, aims to enhance the bank's operational efficiency.

The Cabinet of Ministers is tasked with executing the transfer of the state's shareholder rights to the Presidential Affairs Department. This department, in conjunction with the Ministry of Finance, will manage all organizational aspects of this transition. The decree is slated to come into effect 10 days after its signing.

Kylym Bank was established in January 2025 as a state-owned entity, holding a 100 percent state share. The bank's founding resolution was signed by Cabinet Chairman Adylbek Kasymaliev, with the stated purpose of developing the banking sector and financial system of the Kyrgyz Republic. The bank's initial authorized capital stands at 1 billion soms, with plans to increase it to 5 billion soms by 2027.

DistantNews Editorial

Originally published by 24.kg in Russian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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