National Bank approves appointment of deputy chairman of Alma Finance Bank's board

The National Bank has approved a key appointment at Alma Finance Bank, which is preparing to enter the Kyrgyz market. On December 30, the regulator approved Bakhtiyar Isaev as deputy chairman of the bank's board. The financial institution still needs to obtain a banking license before it can begin operations.

Formally, this is just another procedure for approving the management of a new player. However, the Alma Finance Bank project itself is much broader than the standard launch of a credit institution. The bank was registered in Kyrgyzstan on July 30 with the participation of foreign capital of Chinese origin and, in fact, is being formed as the financial core of a business conglomerate already operating in the country.

Wang Xing, a citizen of the People's Republic of China, has been appointed chairman of the board. The founders include Chinese entrepreneurs Wang Qiangang, Kang Jianlin, and Liu Wen Zhong, as well as Kyrgyz companies: the microfinance organization Alma Credit, the construction firm Baden Service, and the industrial enterprise Kyrgyz Temir Group. These assets collectively cover construction, metal fabrication, trade, finance, tourism, and services.