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Today the Company has a vast geography of activity, in particular throughout Kyrgyzstan it has a network of 42 offices, which employ about 400 employees, and provides services to more than 44 thousand clients.

“For the last ten years Company has been engaged in classical financing but in the process of work we have constantly observed a growing demand on Islamic products from the local population. We started the launch with the Murabaha product, the provision of equipment that is necessary in everyday life and in business by installments, and we hope that we will launch a line of Islamic products very soon”,said Chinara Moldazhanova, General Director of Bailyk Finance.

After successfully obtaining the right to carry out Islamic transactions from the NBKR, on December 4th, the first meeting of the Shariah Council of the Bailik Finance Company was held, at which internal policies and procedures were approved that meet the requirements of the NBKR and Shariah standards for Islamic finance. As we noted earlier, the Company will start with the Murabaha product, which is a deal for the sale by installments of goods purchased by the Company at the request of a client with a pre-agreed margin.

“Obtaining the NBKR certificate is a sign of the pure intentions of Bailyk Finance Company in its activities. Today, Kyrgyzstan already has a sufficient practical base in this direction and the emergence of a new player in the country’s Islamic financial system will have a positive effect on its development. As the chairman of the Shariah Council, I would like to wish success to the entire Company, and may the Almighty support our intentions, ”said Zamir Pusur Tegin, chairman of the Shariah Council of Bailik Finance.