Published
05/01/2026, 09:34The Kyrgyzstan Non-State Pension Fund invested 3,939,100 KGS in refined gold issued by Kyrgyzaltyn. The transaction took place on April 30 on the Kyrgyz Stock Exchange and marked the first trade in this instrument on an organized exchange.
The pension fund’s purchase of gold effectively opened a new market segment—the trading of precious metals through the exchange’s infrastructure. The transaction was carried out under a trilateral agreement between the Kyrgyz Stock Exchange, Kyrgyzaltyn, and the Central Depository, signed on April 3.
According to the exchange, the transaction involved certificates for 100-gram gold bars. A total of three securities were purchased at a price of 1,313,040 KGS each. The transaction was executed at a single price, reflecting the initial quote for the new instrument.
“Kygyzaltyn” acts as the issuer and market maker, ensuring continuous quotes and liquidity for the instrument, while the Central Depository maintains records of ownership rights to the gold.
For institutional investors, such as pension funds, the new instrument could serve as a means of asset diversification and investment in a safe-haven asset. Amid financial market volatility, gold is traditionally viewed as one of the most stable stores of value.
Traders have access to various ways of working with the metal. It can be withdrawn from storage, left in custody (free of charge for the first 12 months), or resold without physical withdrawal.
The KFB notes that the launch of gold trading expands opportunities for both financial institutions and clients of banks and brokerage firms, who will be able to buy and store gold in non-cash form via digital channels.
“The transaction demonstrates institutional investors’ practical interest in the new instrument,” emphasized Almazbek Karakozhaev, head of the precious metals trading sector at the Kyrgyz Stock Exchange, calling the transaction an important step for the entire market.
To participate in trading, legal entities and individual entrepreneurs must register with the Kyrgyz Stock Exchange and Central Depository CJSC.
