A new state-owned bank, "Kylom Bank," will be established in Kyrgyzstan.

Prime Minister Adylbek Kasymaliev signed a decree on December 26, 2024, establishing the joint-stock company "Kylım Bank" with a charter capital fully owned by the state.

The bank will contribute to the development of the banking sector, increase the accessibility of financial services, and promote the digital economy.

In the first stage, the bank's charter capital will amount to 1 billion som through the issuance of 1 million ordinary registered shares with a nominal value of 1,000 som each. According to plans, the capital will be increased to 5 billion som by 2027.
The Ministry of Finance has been tasked with developing and approving the bank's charter, registering it as a legal entity with the justice authorities, and obtaining a banking license from the National Bank of the Kyrgyz Republic.

"Kylım Bank" will perform the functions of a central counterparty, national depository, and numbering agent.

Source: economist.kg