Sadyr Japarov: We Have Nothing to Hide from the People

Елена Краснова Exclusive
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-Hello, Sadyr Nurgoyevich! Last week, media reported that among the founders of the recently opened "Berekett Bank" is also your son Nurdoelet Nurgoyev, alongside Marat Sultanov, the former speaker of the Jogorku Kenesh.

This information has sparked various reactions in society. Some believe there is nothing wrong with it if the state has no relation to the bank, while others express the opinion that involving relatives in business is inappropriate. What is the connection of this bank to your family?

-This is indeed an important question that is being actively discussed. Therefore, I will try to answer it as openly as possible. We have nothing to hide from the people.
First of all, I have been in office for over five years. During this time, I have not involved any of my relatives or brothers in state affairs. I believe that one politician from the family is quite enough.

I have always advised my close ones to engage in business, develop production, and attract investors to our country.
Fortunately, they listened to my words and do not interfere in politics. The people notice this as well.

In the future, they will also not participate in state affairs. None of them aspire to hold the position of minister or deputy, although they could, as the elections are conducted by the people. But they do not do this.
Everyone is engaged in their own business and working on attracting investors to the country.

I always emphasize:
“Do not take capital abroad, but rather attract it to the country.”
If I start listing all the investors that my relatives have attracted and the projects they are implementing, it will look like self-promotion. Therefore, I will refrain from doing so for now.

When my presidential term comes to an end, I will talk about what my brothers have been doing, what projects Rustam has implemented, and how much investment they have attracted. The entire nation will see this.
As for the bank, the situation is as follows: the world is rapidly transitioning to virtual assets.

In May of this year, Chanpeng Zhao, the owner of the well-known company Binance, visited us and proposed the idea of creating a digital bank.

I immediately suggested making it state-owned, but he showed no interest in participating in a state project.

After my idea of creating a state bank was not supported, we agreed to create a private bank.

I invited Marat Sultanov, as an experienced banker, to address organizational issues.

Chanpeng Zhao and Marat Abdrzakovich suggested that Nurdoelet also be included in the project.
After some thought, I agreed, as this has nothing to do with the state.

Let him gain experience and interact with professionals. This is much better than if they were involved in politics – it is better to engage in private business.

It is important to note that Chanpeng Zhao does not visit every country.

Firstly, we have good relations, and secondly, he notices that Kyrgyzstan is developing and there is a serious fight against corruption, that there is no crime in the country, and this is what attracts his interest. Many other countries have tried to invite him, but unsuccessfully. Thanks to his visit to Kyrgyzstan, billions of investments will flow into the country through this bank. Other investors will also be among the founders. Our people and the state will benefit from this.

-Will this bank operate like regular banks?

-Absolutely, it will operate as a standard bank, but with an emphasis on virtual assets and digital currencies.

-Does your son have education and experience in this field?

-As I mentioned, I do not involve my children and brothers in politics. Therefore, Rustam and Nurdoelet have received education in economics and finance. Of course, he has little experience for now, but I believe that over time he will gain it. Young people today master new fields much faster.

The most important thing is not to worry. This initiative will only benefit the people of Kyrgyzstan: incomes will be distributed, assistance will be provided to orphans and those in need, social facilities will be built, and much more.
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