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REGULAR MEETING OF AGENCY’S DIRECTOR ADILBEK UULU SHUMKARBEK WITH A BOARD MEMBER OF THE KUWAIT FINANCE HOUSE AND "TURKAPITAL" COMPANY.

19.02.2019

In 19th of February was held a regular meeting of Agency’s Director Adilbek uulu Shumkarbek with Mr. Favaz Issa a Board Member of the Kuwait Finance House and company "TURKAPITAL" that is a subsidiary company of the Kuwait Finance House.

The meeting from the Kyrgyz side was attended by the Counsellor of the Embassy of the Kyrgyz Republic in the State of Kuwait Abdulaziz Botbayev and the CEO of “Mol Bulak Finance” Baburdzhan Tolbaev.

The main issue of discussion was the opening of the first Islamic bank in the Kyrgyz Republic. The Director of the Agency presented investment opportunities and the banking system of the Kyrgyz Republic, and also made a presentation on the opening of an Islamic bank in the country.

According to Mr. Fawaz Issa, opening of an Islamic bank in the Kyrgyz Republic has a high potential, therefore today the Kuwaiti Finance House is considering and studying the market of the Kyrgyz Republic.

Opening a bank has temporary issues that is the Kuwaiti Financial House needs to study carefully the issues of entering to the financial market of the Kyrgyz Republic.

In the frame of the meeting “Mol Bulak Finance” company offered to “TURKAPITAL” enter the capital of a microfinance company on Islamic finance. To which Mr. Favaz Issa answered positively and expressed readiness to consider this proposal.

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