On May 31, Maksatbek Ishenbaev, Chief Executive Officer of Bank “Bai Tushum” and our other colleagues participated in the Small Business on the Road to Success Investment Forum, organized by the European Bank for Reconstruction and Development (EBRD).
Deputy Prime Minister of the Kyrgyz Republic Zamirbek Askarov, Swiss Ambassador to the Kyrgyz Republic Veronik Ulmann, Head of the Cooperation Unit of the European Union Delegation to the Kyrgyz Republic Charlotte Adrian, EBRD Director for Central Asia Neil McCain, top management of leading banks, representatives of business and consulting companies took part in the forum.
The event discussed issues related to the difficulties and prospects for the development of small and medium businesses in Kyrgyzstan, access to financial instruments, as well as the possibility of providing technical and consulting assistance to strengthen the capacity of SMEs.
As part of the plenary discussion, Maksatbek Ishenbaev noted that now in the CIS countries banks are actively working with SMEs and for SMEs: “For example, many banks in Ukraine give online loans 24/7 to businesses up to USD 200,000 without collateral. Business can indeed get a loan in one click in the amount of USD 200,000.
In order for such programs to work in Kyrgyzstan, we need to continue implementing digitalization programs and launch the “Tunduk” system as soon as possible”.
In other countries, this is possible because banks can explore the SMEs through its social payments, payment of taxes and other parameters required for making a quick decision on loan disbursement.
“Through this approach, the bank can make a quick loan decision. A business receives an email that tomorrow he can receive USD 200,000 from the bank without any effort. If he needs larger amount, he can get it, just needs to visit and fill application form, show collateral. As soon as the application is approved, he will receive the necessary amount.
If this is not necessary, the bank will give him USD 200 thousand even tomorrow, by transfer to a card. I believe that very soon it will come to us too. Bank “Bai Tushum” has already begun working in this direction,” explained the CEO of our bank.