A German-owned bank has officially ceased operations in Kyrgyzstan

One of the oldest banks with foreign participation in Kyrgyzstan, the German-Kyrgyz Industrial Bank Orient, has ceased to exist. Information about this became available only thanks to an order to terminate operations dated October 22, 2024, registered in the Ministry of Justice database.

However, Orient Bank is not listed in the register of operating banks, the list of liquidated banks, or even among microfinance organizations. At the same time, it existed, at least on paper, for more than 30 years.

According to open sources, Orient was registered on January 4, 1994, as a limited liability company, with banking as its main activity. Its founders include Technik Gas, Kyrgyzkyim JSC, and one private investor. The last registered director is listed as Kairbek Musabaev.

Interestingly, it does not appear on the National Bank's website or in public reports on the liquidation of commercial banks.

The only mention of the bank that could be found was preserved in court records: in 1998, the Supreme Arbitration Court considered case No. B-259/5 PR, in which Orient Bank was the plaintiff, seeking to challenge the transfer of real estate properties initiated by the former head of the bank. The case materials mentioned property on Moskovskaya and Usenbaeva streets in Bishkek, as well as the firm Technik Gas, which was involved in debt repayment through shares in the bank itself.

It is interesting to note the complete absence of any trace of Orient in the history of banking regulation in Kyrgyzstan. It is not mentioned among the first privatized banks, does not appear on the lists of bankrupt companies, and has not been involved in any mergers. Meanwhile, it was involved in legal disputes, had a legal address at 176 Sovetskaya Street, and existed until October last year.