Кыргызская фондовая биржа

The Kyrgyz Stock Exchange and the Union of Banks of Kyrgyzstan signed a Memorandum of Cooperation

Today, the Kyrgyz Stock Exchange (KSE) and the Union of Banks of Kyrgyzstan signed a Memorandum of Cooperation. The document was signed by Medet Nazaraliev, President of KSE, and Rustam Sarybaev, Director of the Training Centre, on behalf of the Union of Banks.

The purpose of the Memorandum is to establish a long-term and mutually beneficial partnership aimed at promoting environmental and social principles, corporate governance (ESG), enhancing the capacity of stock market participants and professional development of financial and private sector managers and experts, as well as creating the necessary conditions for the development of sustainable finance in the country and encouraging responsible investment

Medet Nazaraliev, President of the KSE:

"One of the leading areas of KSE's activities is the promotion of environmental and social projects, as well as the principles of corporate governance (ESG) in the financial and private sectors. We aim to increase the commitment of representatives. of the business sector, financial institutions and commercial banks to implement green programmes. To achieve this objective, we promote sustainable financial instruments in the country's stock market. I believe that the signed Memorandum will give impetus to the further spread of "green initiatives" and ensure the sustainability of such projects".

Rustam Sarybaev, Director of the Training Centre of the Union of Banks of Kyrgyzstan:

"The Union of Banks aims to establish a long-term and mutually beneficial partnership between our organisations actively working to build a framework for Sustainable Finance in the Kyrgyz Republic. We will endeavour to work together to develop and promote sustainable financing instruments, such as green, social and sustainable development bonds, in accordance with generally accepted international principles, as well as the application of guidelines on non-financial disclosure by listed and public companies in the country on compliance with ESG criteria".

By signing this document, the parties commit themselves to building a mutually beneficial partnership to develop green, social and sustainable development bonds in accordance with the principles (GBP, SBP, SBG, SLBP), the International Capital Markets Association (ICMA), and the standards of the International Organisation Climate Bonds Initiative (CBI).

The leaders of the two organisations, outlined the importance of promoting the use of guidelines on disclosure of non-financial reports by listed and public companies in the country on compliance with ESG criteria in order to assess the sustainability and social impact of investments in a company or business, through educational and capacity building activities, thus contributing to the sustainable development of the national economy.

Also, KSE and the Union of Banks intend to increase the capacity of the system of sustainable financing and professional development of managers and experts of the financial sector, organising training programmes, seminars, conferences and other events.