Published
02/26/2026, 10:54The auction held by the Azerbaijan-Kyrgyz Development Fund to place funds on deposit with commercial banks has been declared invalid. In fact, the Fund was unable to place the declared amounts because the market did not show sufficient interest.
The ACDF planned to offer banks 150 million KGS in two lots: 100 million for 9 months and 50 million for 12 months at 11% per annum. Additionally, it was planned to place $3 million in three lots of $1 million each for a period of one year with a starting rate of 4%.
The official results of the placement were promised to be announced on February 19, but they were never published. According to Akchabar's own sources, the auction was canceled due to an insufficient number of participants. According to the rules of the auction, the procedure can be declared invalid if there are fewer than three applicants or if there are no satisfactory bids.
We would like to add that similar deposit auctions have already been held by the Ministry of Finance (the first), the Russian-Kyrgyz Development Fund, and the State Financial Holding.
