Bereket Bank is a private project initiated by the founder of Binance

In an interview with the Kabar news agency, Kyrgyzstan's President Sadyr Zhaparov commented on the opening of the new Bereket Bank and media reports about his son Nurdooool Nurgozhoev's involvement in the project. The head of state emphasized that the bank has no connection to the state and is a private business project proposed by Binance founder Changpeng Zhao.

According to the president, the idea of creating a digital bank arose in May during Changpeng Zhao's visit to Kyrgyzstan.

"He proposed opening a private bank working with virtual assets and digital currencies. At first, I suggested making it state-owned, but the partner preferred a private form. After that, I invited experienced banker Marat Sultanov, and Nurdoolat's participation was proposed by the project's initiators. I agreed, as the state has nothing to do with it," said Sadyr Zhaparov.

The president added that he considers it right for his relatives to be involved in business rather than politics.

“I have not involved and will not involve family members in state affairs. Let them work, gain experience, and attract investors to the country. This is much better than participating in politics,” he said.

According to Zhaparov, the opening of Bereket Bank will attract significant investment to Kyrgyzstan.

“Chanpeng Zhao does not visit every country. He sees that Kyrgyzstan is developing, that we are fighting corruption and that there is no crime. Thanks to this, billions of dollars in investment will flow into the country through the bank. Our state and people will only benefit,” the head of state emphasized.

He also noted that the bank will function as a regular financial institution, but its main focus will be on working with virtual assets.

“The people of Kyrgyzstan will benefit from this initiative: part of the income will be directed to social projects, helping orphans and those in need,” the president concluded.