Bai-Tushum Bank concludes agreement with the State Mortgage Company (SMC)


On August 12, 2016 an agreement was signed in the Ministry of Economy and Development of the Kyrgyz Republic on the cooperation between Bai-Tushum Bank and the State Mortgage Company (SMC) for the implementation of “Affordable Housing 2015-2020” project.

Having a wide branch network and broad experience in lending, Bai-Tuhsum Bank became one of the participant banks in the implementation of the State Mortgage Programme.

“The increased number of banks engaged in the implementation of the State Mortgage Programme promotes wider opportunities for purchasing housing. Bai-Tushum Bank will provide lending based on the procedures, established by the State Mortgage Company. The loans for the purchase of housing will be disbursed for a period of 15 years with the interest rate of 12 to 14%”, – pointed out Gulnara Shamshieva.


The Decree of the Government of the Kyrgyz Republic dated August 5, 2015 approved the Programme of the Government of the Kyrgyz Republic “Affordable Housing 2015-2020”.

In order to ensure the adequate operation of mortgage lending mechanism in the Kyrgyz Republic, as well conditions for adopting and implementing the state programme of the Kyrgyz Republic for providing housing to the staff employed in the social sphere, military men, state and municipal officials through mortgage lending, the Decree of the Government dated July 15, 2015 established The State Mortgage Company OJSC.