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  • HIDDEN POWER OF ECONOMY OF JAPAN

    HIDDEN POWER OF ECONOMY OF JAPAN

    Gift from Turkey.

    The other day, the General Director of the Turkish Credit Guarantee Fund (KGF) Ismet Gergerli sent a gift to the Chairman of the Board of the Guarantee Fund Malik Abakirov – his book “The Hidden Power of Economy of Japan”, dedicated to the study of the Japanese model of guarantee support for small and medium-sized enterprises.

    In the preface to the publication in English (previously the book was published in Turkish), Ismet Gergerli writes:

    “The macroeconomic results of 2017 and 201 8, due to the fundamental structural changes that have occurred in recent years in the Credit Guarantee Fund, as well as the unexpected significant impact of these results on the Turkish economy, have demonstrated the importance of the role of credit guarantee systems in various economies. To keep up with the fast changes in the world order in 2017, we first visited South Korea for research. Guarantee support provided by KODIT, the world’s largest guarantee institution, has been one of the key elements in the South Korean economy. He played an active role in the creation and development of the world’s leading technology brands. Of particular interest to us was the influence of KODIT on the South Korean economy.

    In this book, we present our study of the Japanese model and hope that it will contribute to the development of a credit guarantee system in our country, ensuring its long-term and sustainable impact on our economy.”

    A cover letter from Mr. Ismet Gergerli was enclosed in the book, in which he expresses kind words addressed to Malik Abakirov, whom he met at the international conference in Istanbul in April 2019.

    THE MECHANISM FOR PROVIDING GUARANTEES TO ENTREPRENEURS

    THE MECHANISM FOR PROVIDING GUARANTEES TO ENTREPRENEURS

    Workshops for bankers.

    On July 15-16, 2019, the specialists of the Guarantee Fund held seminars for employees of a number of partner banks. Abai Bakirov, manager of the sector for medium enterprises, gave a lecture to the employees of Aiyl Bank, CB Kyrgyzstan, and FINCA Bank, and Saparbek uulu Altynbek, manager of the sector for small enterprises of the Guarantee and Product Development Department, held a lecture at Halyk Bank Kyrgyzstan.

    The purpose of the seminars was to clarify the mechanisms for providing guarantees to entrepreneurs. In the practice of interaction between GF, the need periodically arises for holding such seminars due to the fact that the Fund is introducing new guarantee products or the loan specialists of partner banks are changing.

    Since the provision of guarantees is a process in which three parties participate – a bank, a client, and a guarantee fund, it is very important that the mechanism for using this financial instrument works properly, applications are reviewed without delay, and the deadlines for approving loans and guarantees are observed.

    The specialists of OJSC “GF” also acquainted bank employees with the nominations of the action announced by the Fund to stimulate loan specialists of partner banks. In the autumn of this year, the results of the action will be summed up, according to the results of which prizes will be received by bank experts who issued more loans under guarantees in monetary and quantitative terms, taking into account the regions.