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Islamic finance in Kyrgyzstan doubled over the year

Published

01/25/2026, 09:30

Islamic finance in Kyrgyzstan doubled over the year

As of November 30, 2025, there were 21 commercial banks and 306 branches operating in Kyrgyzstan. Six banks provided services based on Islamic banking principles in national and foreign currencies.

The key trend of the year was the sharp growth of Islamic finance. Since the beginning of 2025, its volume has increased by 100.8% and reached 18.1 billion KGS. For comparison, at the end of 2024, this figure was 9 billion KGS.

The most noticeable growth was in the retail and long-term segments:

  • mortgage financing — 7.1 billion KGS, an increase of 120.4%
  • consumer financing — 4.3 billion KGS, an increase of 166.7%

This indicates that Islamic banking products are increasingly being used by the population, not just by businesses.

Financing of the real sector also grew, but more modestly:

  • agriculture — 2.2 billion KGS, up 61.9%
  • construction — 0.9 billion KGS, up 67.3%
  • trade — 1.3 billion KGS, up 28.9%
  • industry — 0.4 billion KGS, up 22.1%

Two billion KGS were allocated for other purposes, which is almost double last year's figure.

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