Published
08/21/2026, 11:24The functions relating to the representation of the Cabinet of Ministers as a shareholder in ‘Kylim Bank’ will be transferred from the Ministry of Finance to the Presidential Administration. President Sadyr Zhaparov signed the relevant decree on 19 August.
The document was adopted to improve the efficiency of the new commercial bank. The Cabinet of Ministers has been instructed to transfer to the Presidential Administration the functions relating to the exercise of the state’s powers as a shareholder of ‘Kylim Bank’ and to bring its decisions into line with the decree.
This does not involve the sale of shares or a change of ownership of the bank, but rather a change in the state body that will manage the state’s shareholding and represent the interests of the Cabinet of Ministers as a shareholder.
The Presidential Administration, in conjunction with the Ministry of Finance, is to take the necessary organisational measures. Furthermore, the Presidential Administration has been instructed to ensure the transfer of state property for use by ‘Kylim Bank’. The decree does not specify the list or value of the property.
The decree will come into force ten days after its official publication.
It should be noted that ‘Kylim Bank’ received a licence from the National Bank to conduct transactions in national and foreign currencies on 13 May 2026 and became Kyrgyzstan’s 25th commercial bank.
