BISHKEK, Kyrgyzstan — October 17 — On the sidelines of the IMF and World Bank Annual Meetings, Melis Turgunbaev, Chairman of the National Bank of the Kyrgyz Republic (NBKR), held a meeting with representatives from the Central Bank of the Kingdom of Bahrain to discuss the development of Islamic banking in Kyrgyzstan, according to a report by the National Bank of Kyrgyzstan via Trend.
Chairman Turgunbaev highlighted the NBKR’s consistent efforts to strengthen the regulatory and institutional foundations for Islamic finance in Kyrgyzstan. He expressed appreciation for Bahrain’s valuable contribution to advancing international standards and best practices within the Islamic finance sector. Both sides showed readiness to expand cooperation between their regulatory authorities.
The discussion also emphasized the importance of introducing monetary policy instruments that comply with Shariah principles. Such tools are essential to ensure effective transmission of monetary policy and to maintain liquidity within Islamic financial markets.
Furthermore, both parties reaffirmed their commitment to deepen bilateral cooperation. This includes initiatives focused on the exchange of expertise and capacity building to enhance institutional capabilities and support the sustainable growth of Islamic banking.