OREANDA-NEWS. January 04, 2010. A banking conference hosted by Banking Association for Central and Eastern Europe took place in Budapest, Hungary. AsiaUniversalBank became a golden sponsor of the annual conference which has attracted 170 banks from 40 countries all over the world during the last 10 years.

The conference participants discussed status and development opportunities of banking sector as well as new aspects of banking regulation in Central and Eastern Europe and CIS. Speakers particularly stressed impacts of global financial crisis on mortgage programs implemented by CEE banks.

The Kyrgyz Republic was invited as a distinct guest to the 21st Banking Conference and was dedicated a separate panel session. Representatives of the largest commercial banks, regulating authorities of Europe and CIS, private and institutional investors, financial analysts and securities market participants attended the presentation of Samat Konokbaev, Board Member of National Bank of the Kyrgyz Republic. In his report, the NBKR official addressed dynamics of macroeconomic indicators in the Kyrgyz Republic, various banking development issues, public administration and tax code reforms, and also an anti-crisis action plan that provides for government back-up to KR banking system. Presentation by Mr. Konokbaev provided western bankers with a fresh outlook on investment attractiveness of Kyrgyzstan and sustainability of its banking sector to adverse pressure of financial crisis.

Foreign colleagues found the speech by Anvar Abdraev, President of Union of Kyrgyz Banks particularly interesting. Mr. Abdraev described banking system in the Kyrgyz Republic, outlined its shortcomings and advantages and identified a number of promising development avenues, such as leasing operations, Islamic Banking, improved government regulation pertaining to payment systems, microfinance and non-banking financial institutes. Anvar Abdraev also noted potential risk factors for Kyrgyzstan that include deterioration of foreign trade, investments outflows due to political and economic volatility, and reduced volume of donor assistance.
“Colleagues from Europe and CIS countries are concerned among other things, in the strategy that Kyrgyz banks have chosen under global financial crisis and the assistance those banks receive from the government. This is not the first time AsiaUniversalBank takes part in international conference at such level and we are intended to continue the trend. Our participation at such prominent events contributes to breeding a favorable image of the Kyrgyz Republic abroad and makes it more open for foreign investors and businesses”, Hagan Alizade, Deputy Head of AUB Board, noted.