Bai-Tushum & Partners was the official sponsor of Bishkek leasing forum
The Bishkek leasing forum “Leasing as a tool for development of the economy of Kyrgyzstan” took place on 29 June 2012, one of the sponsors was Bai-Tushum & Partners. The forum was organized by the Union of Banks of Kyrgyzstan and the Ministry of Economy and antimonopoly policy of the Kyrgyz Republic. Consultants – practitioners, investors, donors, representatives of the microfinance institutions and banks from Kyrgyzstan, Kazakhstan, Russia, Tajikistan, Uzbekistan, Azerbaijan and other countries took an active part in the event. The purpose of the forum was creation of a unified platform for discussing the current situation and investment opportunities of the market development, as well as the future prospects of leasing in Kyrgyzstan.
It should be noted that the problems and difficulties in the development of leasing in Kyrgyzstan were discussed in the plenary sessions. According Joomart Otorbaev, the main are undeveloped market of insurance, low solvency of farms, as well as limited access to finance.
Gulnara Shamshieva, General Manager of CJSC MFC Bai-Tushum and Partners, on one of the session commented the situation: “During the forum the issue of lack of access to finance for leasing transactions was raised. For my part, I would like to note that for offering attractive leasing products, “long and cheap” resources are required, and for this there must be “political silence” in Kyrgyzstan. After all, no any investor wants to invest his money where there is high country risk”.
Speaking as a moderator of the session “The Role of financial institutions in the development of leasing”, Gulnara Shamshieva shared the experience of leasing activities of “Bai Tushum” banking group. In particular, the active introduction of micro-leasing began in 2007 with the support of UNDP. Over five years, the banking group has successfully financed 58 leasing transactions in the amount of KGS 53.7 million. Partnerships were established through which the entrepreneurs were able to lease the German, Russian and Belarusian machinery of “CLAAS”, “Rostselmash”, “Kyrgyzavtomash” companies as well as of other manufacturers.
Up to date Bai-Tushum banking group offers to entrepreneurs a profitable leasing program, under which financing of projects in the amount up to KGS 10 million with an interest rate from 16% per annum are provided. Individual entrepreneurs, farms and agricultural cooperatives can take advantage of the leasing program. The maximum duration of financing on this program is 5 years.