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IBC proposes to increase banks’ authorized capital at the expense of retained earnings

May 18, 2016

The Secretariat of the Business Development and Investment Council under the Government of the Kyrgyz Republic discussed issues related to the increase of banks’ authorized capital at the expense of retained earnings. The meeting was attended by representatives of the Secretariat, IBC and banking sector. According to representatives of the banking sector this issue has been repeatedly raised by them earlier, but due to many reasons the decision has not been taken so far. The participants discussed ways to address this issue at the legislative level. Earlier, IBC has sent an appeal to Chairman of the JK Committee on Economic and Fiscal Policy on this issue.