Roundtable: Problems and Challenges of the Islamic Finance Sector in the Kyrgyz Republic

On November 26, the first roundtable organized by the Association of Islamic Finance of Kyrgyzstan (AIF) took place at the Technopark.
The event served as a platform for discussing key issues, challenges, and strategic topics related to the development of Islamic finance principles in the country.

The initiative of the Association brought together representatives of the Presidential Administration of the Kyrgyz Republic, the National Bank of the Kyrgyz Republic, the Guarantee Fund, the banking sector, and industry experts, demonstrating the readiness of both the state and the business community to consolidate efforts.

MIslamic — Partner of the Roundtable Organized by the Association of Islamic Finance of Kyrgyzstan

MIslamic by MBANK, a partner of the event, joined the Association on June 24, 2025, and actively supports its initiatives.
“We are always open to dialogue and ready to support market development, share our expertise, and implement new technological and, most importantly, accessible financial tools for the people of Kyrgyzstan,” emphasized Kairat Suranaev, First Deputy Chairman of the Bank’s Management Board.

Key Challenges and Principles of Islamic Finance in Kyrgyzstan

The discussion focused on barriers that slow down market growth, the improvement of the regulatory framework, and the expansion of product offerings for the population. Particular attention was given to the need for a stable and transparent ecosystem.

Chairman of the Association of Islamic Finance, Talant Kerimbaev, highlighted the industry’s core values:
“Islamic finance represents a new level of responsibility, transparency, and trust between financial institutions and society. Our task is to create conditions in which these values become the norm for the Kyrgyz market.”

Conclusion: MIslamic’s Commitment to Enhancing Islamic Finance in Kyrgyzstan

Following the meeting, participants reaffirmed their readiness to continue building a professional community, promoting ethical financial instruments, and supporting initiatives aimed at sustainable development of Islamic finance in Kyrgyzstan.

MIslamic — the first Islamic digital platform!

License of the National Bank of the Kyrgyz Republic No. 014/1.