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    Dear our visitors! We inform that the book “Access to Finance for SME: Guarantee Fund” (by Malik Abakirov and Syrgak Abakirov) can be purchased at Raritet bookstores (Razzakov Street) and Nuska (Erkindik Avenue).

    This relevant and useful book is for everyone who are interested in the development and promotion of SME in Kyrgyzstan.

    In the meantime, we would like to introduce the opinions of our bankers on the guarantee system, which are stated in this book.

    Nurlan Aldayarov, member of the Board of CJSC “KICB”, ex-Chairman of the Board of CJSC “Bank of Asia”:

    CJSC “Bank of Asia” has been working with regional guarantee funds since 2011 and continues successful cooperation with the OJSC “Guarantee Fund”. The guarantee issue mechanism of OJSC “Guarantee Fund” is a successful example of state support for small and medium enterprises through the possibility of expanding crediting, promoting entrepreneurship in regions of the country where there is a problem of providing the necessary collateral, reducing the banks’ credit risks and increasing issuing loans. Partnership in the issue of loans secured by guarantees is also one of the additional competitive advantages for Bank of Asia, that serves as a good support for bank customers in the context of the need to increase financing.”

    Margarita Cherikbaeva, Chairman of the Board of CJSC “Finca Bank”:

    “Guarantee funds are an effective tool for hedging both lender’s risks and borrower’s risks, acting as an intermediate protective mechanism. I would emphasize 2 main points: 1) A lender’s risk reduction has a positive effect on the pricing strategy of a financial institution and may entail a decrease in

    interest rates; 2) Guarantee funds reduce barriers to crediting, as the clients with a lack of own collateral can use guarantees and receive the necessary loan amount.”