Published
09/18/2025, 15:58The Kyrgyz Stock Exchange website still lists the shares of Capital Bank of Central Asia OJSC and Keremet Bank OJSC in category ‘B’. Both banks have been subject to international sanctions in recent months, but remain participants in the Kyrgyz stock market.
As a reminder, sanctions against Keremet Bank, which is included in the OFAC list, came into force on 1 March 2025. The bank itself has filed a petition for removal from the list, which is currently under consideration.
On 20 August, it became known that the United Kingdom had imposed sanctions against Capital Bank. London froze assets, banned correspondent relations and payments, and imposed restrictions on the work of management. The reason was that the bank, owned by the Ministry of Finance, was chosen as the settlement centre for rouble transfers and, according to the British authorities, ‘supported Russia's economic activity’.
At the same time, both banks remain on the KFB list. As explained to Akchabar by the Listing Committee, the issue of delisting was indeed raised, but there are no legal grounds for this.
"Under Kyrgyz law, delisting is only possible in the event of sanctions or restrictions by domestic regulatory authorities. The National Bank has not introduced such measures. In terms of other indicators, the banks correspond to category ‘B,’ the Committee said.
Thus, Capital Bank and Keremet Bank continue to formally meet the requirements of the Kyrgyz Stock Exchange, despite being under serious pressure from international sanctions. Commenting on the impact of sanctions in an interview with Kabar News Agency, President Sadyr Zhaparov emphasised that there is no threat to the bank's operations: ‘Russia will not suffer from this. To be honest, Capital Bank will not suffer either. It will continue to operate under the control of the Ministry of Finance and generate profits for the state, as before.’
