Discussion on Opening Direct Correspondent Accounts in US and European Banks

On May 30, 2024, an advisory meeting was held at the office of the Investment Council Secretariat under the Cabinet of Ministers of the Kyrgyz Republic. The meeting included representatives from the National Bank of the Kyrgyz Republic, the Ministry of Foreign Affairs of the Kyrgyz Republic, members of the Investment Council, representatives of the Union of Banks of the Kyrgyz Republic, and the American Chamber of Commerce in the Kyrgyz Republic.

The meeting focused on implementing the points outlined in the 2024 Work Plan of the Investment Council, specifically providing assistance and support for opening direct correspondent accounts in US and European banks, and addressing issues related to blocked accounts of clients in Kyrgyz commercial banks.

Participants emphasized the importance of strengthening financial ties with foreign banks, improving conditions for local businesses, and enhancing the Kyrgyz Republic's investment attractiveness internationally. Specific steps for further action were outlined during the discussion.