OJSC “GF” and OJSC “Bakai Bank” concluded cooperation agreement

New partner bank.

On January 25, 2018 the Chairman of the Board of OJSC “Guarantee Fund” (OJSC “GF”) Malik Abakirov and Deputy Chairman of OJSC “Bakai Bank” Ruslan Kagirov concluded cooperation agreement.

Malik Abakirov in his welcoming speech expressed his gratitude to “Bakai Bank” management for the interest in cooperation with OJSC “GF” and participation in financing small and medium enterprises under guarantees. Guarantees provide real support to small and medium enterprises (SMEs). For 14 months of activity as of December 31, 2017 OJSC “GF” issued 237 guarantees in the amount of 248,1 m KGS, meanwhile the volume of loaning under guarantees constituted 972,4 m KGS. Guarantees are issued in 34 regions of the Republic out of 40.

 Now, with “Bakai Bank” number of partner banks increased up to 10: OJSC “Aiyl Bank”, OJSC “RSK Bank”, OJSC “CB Kyrgyzstan”, CJSC “Bank of Asia”, CJSC “Finca Bank”, “Bank Kompanion”, CJSC “Finca Bank”, “Demir Bank”, OJSC “Halyk Bank Kyrgyzstan”, CJSC “BTA Bank” and the Russian Kyrgyz Development Fund. Partner banks in total have developed branch network consisting of 220 branches over the Republic. With “Bakai Bank” the number is increasing and this will help in creating more opportunities for entrepreneurs especially in regions.

Deputy Chairman of the Board of OJSC “Bakai Bank” Ruslan Kagirov told that the Bank was happy to cooperate with OJSC “GF” and ready to provide SMEs with loan resources under guarantees of OJSC “GF”. He stressed that banks including “Bakai Bank” often countered situations when entrepreneurs did not have enough collateral for realizing business plans. “As time showed, the idea of creating guarantee fund was successful,” – Ruslan Kagirov said.


Kagirov Ruslan Zayndievich – Deputy Chairman of the Board of OJSC “Bakai Bank” since October, 2017. He has the higher education in economics. In banking sphere, he has been working since 2001, in “Bakai Bank” since 2016.

“Bakai Bank” is a universal commercial bank, created in the form of open joint stock company. “Bakai Bank” has been providing wide spectrum of services for the population of Kyrgyzstan for more than 15 years. It has more than 50 savings banks and branches. Currently, the bank has established correspondent relations with many leading banks of the world and huge banks of the CIS.