Kyrgyz Republic : Access to Financial Services Policy Note

The purpose of this paper is to report on the level of access to formal financial services in the Kyrgyz Republic, assess the key obstacles to improving access, and make recommendations to overcome these obstacles. The paper is organized as follows...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO FINANCING ACCESS TO INFORMATION ACCESS TO RESOURCES ACCOUNTING ACCOUNTING PRACTICES ACCOUNTING STANDARDS ACCOUNTS RECEIVABLE ADB ADVANCED ECONOMIES AGRICULTURAL ACTIVITIES AGRICULTURAL FINANCE AGRICULTURAL SECTOR AGRICULTURAL TRADE ASSET QUALITY AUDITING AUDITORS BANK ASSETS BANK BRANCH BANK BRANCH NETWORK BANK BRANCHES BANK CREDIT BANK LENDING BANK LOAN BANK LOANS BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKS BORROWER BORROWING BORROWINGS CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL REQUIREMENTS CLASSIFIED LOANS COLLATERAL COLLATERAL REQUIREMENTS COLLATERALS COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT CONFIDENCE IN BANKS CONSUMER PROTECTION CONTRACT ENFORCEMENT CORRUPTION CREDIT BUREAU CREDIT COOPERATIVES CREDIT DECISIONS CREDIT EXPANSION CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION SYSTEM CREDIT INFORMATION SYSTEMS CREDIT LINE CREDIT LINES CREDIT MARKET CREDIT PORTFOLIO CREDIT PORTFOLIOS CREDIT RISK CREDIT RISK MANAGEMENT CREDIT SCORING CREDIT SCORING MODELS CREDIT UNION CREDIT UNIONS CREDITOR CREDITORS CURRENCY EXCHANGE CURRENT ACCOUNTS CUSTOMER SERVICE DEBT DEBTS DEMAND DEPOSITS DEPOSIT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSITOR DEPOSITS DEVELOPMENT BANK DONOR FUNDING EARNINGS ECONOMIC ACTIVITIES ECONOMIC ACTIVITY ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH EMPLOYMENT EXCESS LIQUIDITY EXCHANGE RATE EXPORT FINANCING EXTERNAL FINANCING FACTORING FARMERS FINANCE COMPANIES FINANCE COMPANY FINANCIAL ACCESS FINANCIAL HEALTH FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARY FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL NEEDS FINANCIAL PRODUCTS FINANCIAL RESOURCES FINANCIAL SERVICE FINANCIAL SYSTEM FIXED ASSETS FOREIGN CURRENCY FOREIGN EXCHANGE FORMAL FINANCIAL SERVICES FUNDING SOURCES GOVERNMENT ACCOUNTS GREATER ACCESS GROUP GUARANTEE GROUP GUARANTEES GROUP LENDING HIGH INTEREST RATES HOUSEHOLDS IMMOVABLE PROPERTY INDIVIDUAL ENTREPRENEURS INFORMATION SHARING INSTITUTIONAL CAPACITY INTEREST RATE INTEREST RATES INTERNAL FUNDS INVENTORY LARGE BORROWERS LARGE CITIES LAWS LEGAL FRAMEWORK LEGISLATION LENDER LENDING INTEREST RATES LENDING POLICIES LENDING PORTFOLIO LEVEL PLAYING FIELD LIMITED ACCESS LIMITED ACCESS TO FINANCE LINE OF CREDIT LIQUID ASSETS LOAN LOAN AMOUNT LOAN CONDITIONS LOAN MATURITIES LOAN PORTFOLIO LOAN PORTFOLIOS LOAN PROCESS LOAN RECOVERY LOAN SIZE LOAN SIZES LOCAL CURRENCY MARKET CONFIDENCE MARKET VALUE MATURITIES MATURITY MFI MICRO FINANCE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTIONS MIGRANT WORKERS MONEY MANAGEMENT MONEY TRANSFER MONEY TRANSFERS MONEYLENDERS MORTGAGE MORTGAGE LOANS MORTGAGES NATIONAL BANK NEW ENTRANTS NONBANK FINANCIAL INSTITUTIONS NONPERFORMING LOANS OPERATING COSTS OPERATIONAL COSTS OUTREACH OUTSTANDING LOAN PAWN PAWN SHOP PAWN SHOPS PAYMENT SERVICES PENETRATION RATES PERSONAL ASSETS PRIVATE BANKS PRIVATE CREDIT PRIVATIZATION PROFIT MARGIN PROFITABILITY PRUDENTIAL REQUIREMENTS PUBLIC REGISTRIES PUBLIC REGISTRY REAL ESTATE REGISTRATION PROCESS REGULATORY FRAMEWORK REMITTANCES RETAINED EARNINGS RETURN ON ASSETS RETURN ON EQUITY RISK MANAGEMENT RURAL FINANCE RURAL FINANCIAL SERVICES SAVINGS SECURITIES SMALL BUSINESSES SMALL ENTERPRISES SMALL LOAN SMALL LOANS SOCIAL FUND SOURCE OF INCOME START-UPS STATE BANKS TAXATION TECHNICAL ASSISTANCE TIME DEPOSITS TRANSACTION COSTS UNION UNIVERSAL BANK URBAN AREAS VALUE OF COLLATERAL VILLAGE WEALTH CREATION WORKING CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/2010/06/16593873/kyrgyz-republic-access-financial-services-policy-note http://hdl.handle.net/10986/12600

Description
Summary:	The purpose of this paper is to report on the level of access to formal financial services in the Kyrgyz Republic, assess the key obstacles to improving access, and make recommendations to overcome these obstacles. The paper is organized as follows. Sections II to IV examine the supply of financial services. Specifically, section II presents a profile of financial intermediation by banks, focusing their supply of financial services, particularly lending and deposits. Section III presents a profile of lending by Aiyl Bank, a specialized bank with a limited license, which is mandated to lend for agriculture. Section IV presents a profile of lending by non-bank financial institutions (NBFIs), including microfinance organizations (MFOs) and credit unions. Section V examines the demand side for financial services, drawing on enterprise surveys to assess firms' perceptions of their access to finance. Section VI presents a brief analysis of the impact of the events of April 2010 on access to finance. Section VII discusses key obstacles in increasing access to finance from banks and NBFIs. Section VIII concludes with policy recommendations that derive from the preceding analysis.

Kyrgyz Republic : Access to Financial Services Policy Note

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