From the beginning of 2018 and as of February 12, 31 guarantees were approved in the amount of KGS 58 million. Loans under guarantees as compared with the data as of February 8 increased by almost KGS 50 million and amounted to KGS 183.6 million (as of February 8, 136.4 million).
In total, on the current date, OJSC “GF” approved 687 guarantees in the amount of KGS 813 million. Loans approved by partner banks amounted to KGS 2.936 billion. Soon it will be 3 billion! Follow the statistics!
Consulting assistance to entrepreneurs
Entrepreneurs can address OJSC “GF” for consulting services. The Fund’s specialists will provide the necessary information on the issues of obtaining guarantees, will give specific recommendations and help to develop a business plan.
In the Year of Regional Development and Digitalization of the Country, taking into account the instructions of the President and Prime Minister of the Kyrgyz Republic, OJSC “GF” pays special attention to agricultural, processing and industrial enterprises in the regions of Kyrgyzstan, which growth and stable development ensure the creation of new and maintenance of existing jobs.
Year of Regional Development and Digitalization of the Country.
Regional representative of OJSC “GF” took part in retreat of the NBKR on financial literacy in Batken region.
Since the beginning of February, the NBKR has been conducting an awareness campaign “Caravan of Financial Literacy”, together with CJSC “Interbank Processing Center” and the Savings Banks Foundation for International Cooperation of Germany. The campaign is held within the framework of the Year of Regional Development and Digitalization of the Country, the implementation of the Program to improve the financial literacy of the population.
The purpose of such seminars is to present the role and functions of the National Bank, the protection of the rights of consumers of banking and microfinance services, as well as the digitalization of financial services and non-cash payments.
The seminar was attended by representatives of the business community, local authorities, and bankers. Regional representative of OJSC “GF” Nurlanbek Abdamitov participated and made a presentation on the activities of OJSC “GF”. According to him, the seminar was interesting in a businesslike atmosphere.
At the Jogorku Kenesh of the KR.
On February 12, 2019, a meeting of the Economic and Fiscal Policy Committee of the Jogorku Kenesh of the Kyrgyz Republic was held, at which, besides other issues on the agenda, the draft laws “On Guarantee Funds in the Kyrgyz Republic” and “On Amendments to the Tax Code of the Kyrgyz Republic” were considered, and also heard information on the activities of OJSC “Guarantee Fund” for the period from December 2016 to 1 January 2019.
The speaker on the draft law on guarantee funds was the Minister of Economy O. Pankratov. The meeting was also attended by the Chairman of the National Bank T. Abdygulov.
A new version of the Law of the Kyrgyz Republic “On Guarantee Funds in the Kyrgyz Republic” was developed by OJSC “GF” jointly with the NBKR. In accordance with the proposed amendments, the NBKR will regulate and supervise the activities of the guarantee funds.
On the second issue of amending the Tax Code the speaker was the deputy of the Jogorku Kenesh Kozhobek Ryspaev. The discussion of this issue was attended by the Minister of Economy O.M. Pankratov, Chairman of the NBKR T.S. Abdygulov and Chairman of the State Tax Service under the Government of the Kyrgyz Republic T.Zh. Abzhaparov.
The draft of amendments and additions to the Tax Code of the Kyrgyz Republic has been prepared by Open Joint Stock Company “GF” and concerns the tax regulation of guarantee funds in terms of Loan Loss Provision (LLP). The initiation of the proposed amendments is related to the need to include guarantee funds in the list of financial and credit institutions, which, according to Article 207 of the Tax Code of the Kyrgyz Republic, are provided with deductions from the total annual income generated by LLP.
Currently, LLP created by the guarantee funds is subject to double taxation.
On the tenth issue of the agenda of the Economic and Fiscal Policy Committee, information on the activities of OJSC “Guarantee Fund” for the period from December 2016 to 1 January 2019 was considered and taken into account.
On all questions arising from the deputies, detailed replies were given by speakers and invited heads of relevant departments.
It should be noted that the first reading of these draft laws took place in early December 2018.