The National Bank has given the green light to the establishment of Kylim Bank, which is being created for the stock market

The National Bank announced that its board had decided to grant a licence to establish Kylim Bank. The information is available on the regulator's website.

The decision was made on 10 September.

It should be noted that the decree on the establishment of the bank was signed by Prime Minister Adylbek Kasymaliyev on 26 December 2024. According to the document, the authorised capital of Kylim Bank will amount to 1 billion soms.

The new institution is being created with 100% state participation and is expected to become a key element of the country's stock market infrastructure.

Kylim Bank will perform a wide range of functions:

• conducting banking operations;
• managing and storing securities;
• mediating between transaction participants;
• numbering and registering securities.

The main role of the new institution is to become a central counterparty and clearing centre, assuming credit risks and ensuring the reliability of settlements. This will reduce the costs of stock market participants and increase its stability.