Eldik Bank Creates an International Level Securities Depository

Eldik Bank creates an international level securities depository with the support of Alvarez&Marsal and strengthens Kyrgyzstan’s position in the global financial market.

On December 6, a ceremonial signing of a document took place between the leading financial institution of Kyrgyzstan, Eldik Bank OJSC, and Alvarez&Marsal, the international consulting company. Within the framework of the document, the bank, with the consulting support of Alvarez&Marsal, is launching a project to build an international level securities depository, which in the future will be linked to global depositories, developing the national securities market.

- The creation of a depository is an important step in strengthening both Kyrgyzstan's position in the international arena and the confidence of foreign investors in the national banking system. That is why, in order to successfully implement the project, we have engaged the company Alvarez&Marsal, a recognized expert in the field of strategic consulting and asset management, - noted the Chairman of the Board of Eldik Bank OJSC - Ulanbek Nogaev.

It is worth noting that the key goals of the project are to strengthen investor confidence and attract foreign investment, develop the local securities market and integrate into the global financial system. Eldik Bank plans to build interdepository bridges with the world's leading European depositories, as well as establish cooperation with global custodian banks to ensure access to world-class services, as well as storage and asset management.

“- We are proud to become part of such a significant project launched by Eldik Bank. The Kyrgyz Republic has enormous potential for the development of the financial sector and our cooperation with the public bank will help to implement the best world practices and attract the attention of the global financial community,” - Anton Avazhansky, Managing Director of Alvarez&Marsal for Central Asia.

During the implementation of the project, it is planned to achieve significant results in terms of increasing the volume of foreign investment, increasing the availability of financial instruments for local and international players and strengthening the country's international image as a reliable and promising investment destination.

The launch of the depository and the completion of integration processes with international systems, which is an important stage in the history of Kyrgyzstan's financial development, are planned for the end of 2025.

For information: Alvarez&Marsal is a global consulting company with over 40 years of experience in financial and operational restructuring, operational efficiency improvement and interim management.