Published
05/26/2025, 09:00In 2024, interest in banking services that comply with Islamic principles grew significantly in Kyrgyzstan. Sharia-compliant financing increased by 49.3% compared to 2023, reaching 9.03 billion soms. Such services were provided by five commercial banks in national and/or foreign currency.
The main trend of the year was a shift from consumer loans to longer-term and more sustainable areas, primarily mortgages. While a year earlier, mortgage financing accounted for 17.0% of the Islamic loan portfolio, in 2024 it already accounted for 35.7%. By comparison, the share of consumer loans over the same period more than halved, from 42.2% to 17.8%.
In monetary terms, Islamic mortgages grew 3.1 times to 3.2 billion som. Consumer financing, on the contrary, decreased by 37.0% to 1.6 billion soms. Agriculture also played a significant role, receiving 1.3 billion soms, a 2.1-fold increase compared to 2023.
The structure of the financing portfolio also changed in other areas. The share of funds allocated to industry and trade remained stable, while construction financing declined slightly. The share of foreign currency financing also decreased from 6.0% to 5.3%.
