Anvar Abdrayev, the president of the Union of Banks of Kyrgyzstan, shared his opinion on the sanctions imposed against two banks in the country in an interview with IA "Kabar". It is important to note that the restrictions were recently introduced by the European Union, affecting institutions such as the "Tolubay" bank and the Eurasian Savings Bank.
The National Bank of Kyrgyzstan has already responded to this situation, expressing its position through the media in a restrained and moderate tone.
In the statement from the National Bank, it was mentioned that if necessary, the regulator is ready to apply additional measures and tools provided by the country's legislation to ensure the stability of the banking sector and protect the interests of depositors.
“If necessary, the regulator is ready to engage additional measures and tools provided by the legislation of the Kyrgyz Republic to maintain the stability of the banking sector and protect the interests of depositors and creditors,” the National Bank noted.
Abdrayev also expressed agreement with the regulator's position, adding that the sanctions policy of European countries raises a number of questions. “I have repeatedly met with representatives of states that exert pressure on our financial system. If sanctions are imposed, then facts and evidence justifying these actions should be presented. These are serious measures; however, I have not received any clarifications from that side,” he emphasized.
Abdrayev added that the Union of Banks is open to participating in any inspections and audits and is also ready to cooperate with international partners to eliminate misunderstandings and issues that hinder cooperation.
The Ministry of Foreign Affairs of Kyrgyzstan also commented on the situation, stating its readiness to conduct a joint independent audit with the EU to verify facts and confirm that the sanctions are based on reliable data.
“The Kyrgyz Republic strictly adheres to its international obligations and maintains an open dialogue with partners from the European Union to prevent risks associated with circumventing sanctions,” the Ministry of Foreign Affairs noted.
Furthermore, it is emphasized that the European Union seeks to develop a strategic partnership with Central Asia and promote the socio-economic development of Kyrgyzstan, and the Kyrgyz side is ready for equal and mutually respectful cooperation with the EU, which may lead to more beneficial outcomes than unilateral pressure through sanctions.
