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Main mission «Aiyl Bank»:
«To facilitate the development of agro-industrial sector by satisfying demand of farmers and population of the Kyrgyz Republic in available and high-quality bank services and products»
OJSC “Aiyl Bank” (hereinafter – the “Bank”) is one of the biggest banks in the country and at the same time is the main finance and credit institution, providing loans for agricultural sector during 14 years.
The Bank was created in December 2006 as successor of Kyrgyz Agricultural Financial Corporation (KAFC). KAFC was established by the Government of the Kyrgyz Republic with assistance of World Bank in 1997.
The only shareholder of the Bank is the Government of the Kyrgyz Republic in the person of Ministry of State Property. On May 22, 2008 Jogorku Kenesh (Parliament) of the Kyrgyz Republic has approved a concept of privatization of 67% of Bank’s shares.
Since 1997 till 2006 the Bank was operating as a specialized finance and credit institution and therefore its main objective was agricultural lending. After KAFC became a Bank, National Bank has issued a license, which had limitations on almost all traditional bank services.
During 2008-2010, Bank took a series of actions aimed at removal of restrictions and introduction of traditional bank services. Removing restrictions and expansion of license was made step by step and by now almost all restrictions are cancelled.
The Bank is a member of almost all state and international projects on financing agricultural sector.
Main investment donors and partners of the Bank are:
- The World Bank (Projects of the International Development Association: “Rural financing” and “Agrobusiness and Marketing”);
- Asian Development Bank (agricultural sector development project);
- European Bank of Reconstruction and Development (small & medium enterprises development project);
- Reiffeisen Fund for Development of co-operatives in Kyrgyzstan;
- Special Fund for Refinancing of Banks in Kyrgyzstan, UNDP and other financial institutions;
Since the Bank is a member of projects of international financial institutions financial reports audit is being accomplished two times a year (for six months and annual) by the company from the list of internationally acknowledged audit providers.
The Bank is also a member of the following non-commercial organizations:
- Unit of Banks of Kyrgyz Republic
- Deposits Protection Fund of Kyrgyz Republic
- Credit Information Bureau “Ishenim”
- Eurasian Agricultural Financing Association (EAFA)
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