IBC Financial Market Committee considers a bill on the securities market

The IBC Financial Market Committee considered the draft law on amendments and additions to the Law of the Kyrgyz Republic “On the Securities Market” recently submitted for public discussion.

The committee members considered participation of a qualified investor in KFR and optimization of requirements for participants in the securities market.

Aziz Burkanov, Director of the Freedom Finance branch in Bishkek, made presentation on this issue.

The Kyrgyz stock market is not so developed that only qualified investors who meet numerous parameters could participate in the stock exchange, said Maksatbek Ishenbaev, KSE Board Chairman at the IBC Financial Market Committee meeting.

“With this, we set limits for potential investors, having already discouraged them from buying shares of our companies in our stock market,” he added.

According to the changes proposed by the draft law, only qualified participants can participate in the securities market of the Kyrgyz Republic. According to the IBC experts, this limits the access of potential investors to the Kyrgyz stock market, since there are restrictions for qualified investors. For example, if an investor decides to buy shares at the American or European stock exchange, then he should have at least $ 50,000 in his account.

The committee members decided to collect all the comments and suggestions of IBC members on this issue and compile and submit them to the appropriate authorities for consideration.