Press service of OJSC “Guarantee Fund” reported that during the signing of Memorandum, the general director of Hungarian National Trading House Shandor Rizak had noted that they were ready to provide Hungarian technologies to the Kyrgyz Republic, financing by Hungarian Export-Import Bank under guarantees of OJSC “GF” and banks and interact with entrepreneurs of the KR. To respond faster to the requirements of local business, the Hungarian party, according to Rizak, is considering the possibility of opening a representative office of Hungarian National Trading House (HNTH) in Kyrgyzstan.
Rizak also expressed admiration for the beauty of nature, the quality of drinking water, that could be exported. “On the existing undeveloped lands, forestry can be developed”, – added the general director of HNTH.
In turn, the chairman of the Board of OJSC “GF” Malik Abakirov noted that possible potential for cooperation with Hungarian National Trading House was huge, especially in the field of agriculture. “Our entrepreneurs will be able to receive seeds, young livestock, forest seedlings, new technologies and equipment, financing under guarantees of OJSC “GF”, export products to Hungary and other countries through HNTH. We are looking forward to the future cooperation, ” – Abakirov said.
In addition, the parties discussed training seminars for entrepreneurs in Kyrgyzstan and Hungary, particularly in the following areas: deep agro-processing, including meat and milk, vegetables, berries and fruits, products export and forestry.
On June 19, 2017 OJSC “Guarantee Fund” (OJSC “GF”) organized press tour for representatives of mass media – magazines “Slovo Kyrgyzstana”, “Kyrgyz Tuusu”, “Obshestvennyi reiting”, “ElTR” channel, etc. The purpose of this press-tour was a trip to a representative of real economy sector, who obtained financial guarantee of OJSC “GF”.
Before the trip the Chairman of the Board of OJSC “GF” Malik Abakirov told about the performance indicators of OJSC “GF” for 5 months of the current year including regional guarantee funds and answered the journalists’ questions.
Then journalists visited 2 facilities of the clothing factory Planeta Maximus – the ready-made clothing store and the manufacturing workshops of the enterprise.
The CEO of the factory Omurbek Nazarov personally met the guests at the store, where he showed samples of the products and told about the history of the factory’s formation.
The cooperation between the Clothing Factory Planeta Maximus and OJSC “GF” started last year, when the enterprise needed funds to expand production, in particular, to acquire fabrics and materials. “We needed loans, but the loan amount offered by banks was not enough and for the required amount we did not have enough collateral. Then we found out that there is OJSC “Guarantee Fund” in Bishkek. We addressed them. OJSC “Guarantee Fund”, having familiarized with our business plan, provided us with a financial guarantee. The support of OJSC “GF” was timely; we were able to increase production. OJSC “GF” assists in developing business in the medium and long term”.”, – Omurbek Nazarov said.
“Once we started with one machine in a small room,” Omurbek Ismailovich began his story. – Today we are an exporter of clothing, we deliver them, in particular, to Kazakhstan and Russia. We have over 150 employees, there is a three-story production building, several stores in Bishkek – at “Dordoi” and at “1000 melochei”.
The history of the enterprise began more than 15 years ago when they began to sew classic male suits. Omurbek Nazarov and his partners could cope with instability and changes of the market economy, moreover, they could build production, devise the technological process, connections, ensure the supply of quality fabrics and fittings.
Further, the journalists and the CEO of the clothing factory continued the communication in manufacturing workshops. The factory has the equipment of well-known companies: Durkopp (Germany), ASS (Germany), Minerva (Czech Republic), JUKI (Japan), Typical (China), Honrey (China), fabrics and fittings are imported mainly from Turkey. Today the enterprise specializes in sewing the same men’s suits, men’s coats and short coats, school uniform for boys and girls. The product range includes more than 100 models and it constantly updates.
Within highly competitive environment, our clothing manufacturers have found their niche and today actively present at the markets of Kyrgyzstan and neighboring countries. To the question “How did you manage it?” Omurbek Nazarov answered that success followed those who conducted production in accordance with the current quality standards. “Our designers do not borrow ready-made patterns, but create them themselves, taking into account modern technologies, requirements for environmental friendliness and aesthetics. We constantly participate in fairs and exhibitions, we are awarded with certificates”, – the CEO of the factory added. Omurbek Nazarov himself was also awarded with many certificates of ministries and departments for the contribution to the country’s economy and domestic light industry development.
The proper conditions have been created for the staff. Work goes in one shift; employees have a meal in the factory canteen at preferential prices. The clothing enterprise is an energy-intensive production, considerable funds are paid for heat and electricity, but the factory regularly makes payments without ceasing the working process. Representatives of the media were satisfied with the demonstration of a successful enterprise. At the end of the press tour, the participants expressed their gratitude for the opportunity to visit the clothing factory and wished further success to its CEO Omurbek Nazarov.
On June 15, the Chairman of OJSC “Guarantee Fund” Malik Abakirov awarded the Chairman of OJSC “Aiyl Bank” Murat Akimov a Certificate of Appreciation of OJSC “Guarantee Fund” for the contribution to the Guarantee System Development in Kyrgyzstan.
The Chairman of OJSC “GF” highlighted successful work of OJSC “Aiyl Bank”, who is a leader of the banking system of the KR in the field of agriculture loans and leasing and expressed hope for the further mutually beneficial cooperation.
Murat Akimov, in turn, assured that cooperation will continue as it opens up loan market development prospects and is aimed at SME support and contributes to the economy growth of the Kyrgyz Republic.
Stages of cooperation:
On December 27, 2016 OJSC “Aiyl Bank” and OJSC “Guarantee Fund” concluded cooperation agreement.
On January 31, 2017 OJSC “Aiyl Bank” and OJSC “Guarantee Fund” concluded Memorandum on cooperation, according to which during issuing guarantees to SMEs the following projects will be considered as a matter of priority:
- directed to creation and modernization of production with reliable market, sustainable raw material supply and components;
- using financial leasing of fixed assets;
- directed to creation of new import-substituting productions as well as modernization and reconstruction of existing ones;
- forming a chain of technologically related productions with high added value and promising from position of entering world markets (export-oriented productions);
- projects of women entrepreneurs.
As of June 15, 2017, 33 guarantees out of total 69 guarantees are issued by OJSC “GF” in OJSC “Aiyl Bank”.
On June 15, 2017 the Chairman of the Board of OJSC “Guarantee Fund” Malik Abakirov awarded the Chairman of the Board of OJSC “Aiyl Bank” Murat Akimov a Certificate of Appreciation for the contribution to the Guarantee System Development of the Kyrgyz Republic.
As of June 30, “Aiyl Bank” issued 39 loans to SMEs secured by guarantees of OJSC “GF” in the total amount of KGS 45,5 million. The amount of guarantees constituted KGS 17 million.
During awarding, the Chairman of OJSC “GF” highlighted successful work of OJSC “Aiyl Bank”, who is a leader of the banking system of the KR in the field of agriculture loans and leasing and expressed hope for the further mutually beneficial cooperation.
Murat Akimov, in turn, assured that cooperation will continue as it is aimed at SME support and contributes to the economy growth of the Kyrgyz Republic.
It should be noted that cooperation between OJSC “GF” and “Aiyl Bank” started on December 27, 2016 from the moment of signing Cooperation agreement. January 31, 2017 was the day of signing Memorandum on cooperation according to which the priority sectors for loans to SME projects were determined.
Among them are projects directed to the creation and modernization of product manufacture with steady market, supply of components and raw materials; creation of new import-substituting productions, modernization and reconstruction of existing ones; export-oriented products manufacture; projects of women entrepreneurs as well.
Murat Kudaibergenovich Akimov graduated from Management Institute under Irkutsk State University in 1998 (Accounting and Audit) and obtained a master degree at the Academy of Management under the President of the Kyrgyz Republic (Management) in 2000. In “Aiyl Bank” he has been working since 2002: he started his activity from the positions of a credit, leading then senior specialist of various branches of the bank. Since 2008, he worked as a manager, then as a head of Credit Management Analysis and Regional Coordination Department. In 2013-2017 – Deputy Chairman of the Board of OJSC “Aiyl Bank”, and from March 2017 to present – Chairman of the Board of OJSC “Aiyl Bank”.
For your information!
The partner banks of OJSC “GF” are OJSC “Aiyl Bank”, OJSC “RSK Bank”, OJSC CB “Kyrgyzstan”, CJSC “Bank of Asia”, CJSC “Finca Bank”, CJSC “Bank Kompanion” and CJSC “Demir Bank”.
These banks have in total 180 branches; it is 56% of the branch network of commercial banks of Kyrgyzstan. As of September 1 more than 50% of the partner banks branches issue loans to SMEs, partially secured by OJSC “GF” guarantees.
OJSC “Guarantee Fund” with Association of Guarantee Funds of the Kyrgyz Republic and ADB project “Women’s entrepreneurship development” holds seminar on preparation of trainers of financial literacy.
On June 8 in OJSC “Guarantee Fund” (OJSC “GF”) there was a seminar on preparation of trainers who, in turn, will hold seminars on financial literacy for entrepreneurs, including women entrepreneurs in all regions of Kyrgyzstan.
The organizers of the seminar are OJSC “GF”, Association of Guarantee Funds of the Kyrgyz Republic and ADB project “Women’s entrepreneurship development”. The seminar will take place until June 10 of the current year. Among the participants are representatives of 1) three Regional Guarantee Funds (members of Association of GFs); 2) ADB project Women’s entrepreneurship development”; 3) Regional Guarantee Funds and employees of Head Office of OJSC “GF”.
The main goal of this seminar and the following training events in regions, according to the Chairman of OJSC “GF” Malik Abakirov, is entrepreneurs’ financial literacy increase including women entrepreneurs, assisting them in business, business plan, taking into account potential risks. OJSC “GF” and Association of GFs will assist