Published
06/11/2025, 12:24On June 3, the National Bank issued EcoIslamic Bank a license to conduct banking operations in accordance with Islamic principles of banking and finance in national and foreign currencies. This license replaces the previously issued license in connection with the conversion of EcoIslamic Bank CJSC into an Islamic bank.
EcoIslamicBank CJSC has been operating in accordance with Islamic principles since its establishment as part of a pilot project. This was confirmed in the Memorandum of Understanding between Kyrgyzstan, the Islamic Development Bank, and EkoBank on the introduction of Islamic banking and finance in the republic dated May 16, 2006. The document was signed on May 16, 2006, and ratified by presidential decree in July of the same year.
Thus, the pilot project has been successfully completed, and EcoIslamicBank now officially has the status of an Islamic bank.
