Open Joint Stock Company Microfinance Company "Salym Finance" (further Company) is a financial organization that provides affordable lending and attracting time deposits, operating on the securities market and cooperating with international financial institutions. The company is one of the actively developing microfinance organizations in Kyrgyzstan and shows a stable annual growth of financial indicators.
Main stages of development:
- Establishment and development: on November 05, 2007, under the name of LLC MCC “Credit Systems”, the License of the National Bank of the Kyrgyz Republic No. 006 of November 08, 2007 was obtained;
- Renaming: January 24, 2011 in LLC Salym Finance MCC;
- Transformation: on September 28, 2012 into Open Joint Stock Company Microfinance Company "Salym Finance" with the authorized capital of 100,000,000 (One hundred million) soms;
- Obtaining the right to credit and operations in foreign currency under License No. 006/1 for the right to conduct banking operations in foreign currency dated September 24, 2014;
- Obtaining the right for attracting time deposits in connection with the removal of restrictions and renewal of the License dated May 28, 2019.
By 2021, JSC Salym Finance MFC is positioned as a financial organization that actively provides loans throughout the Kyrgyz Republic, also having a socially-oriented function and pursuing a policy of responsible financing and protecting the rights of customers.
According to the Association of Microfinance Organizations of the Kyrgyz Republic, by the size of the loan portfolio, Salym Finance MFC is the largest microfinance organization with local capital.
Providing loans to JSC Salym Finance MFC both in rural areas and in cities represents it as a universal financial organization that works with both microfinance clients and clients of the banking sector.
The company is not limited to activities in the field of lending and attracting deposits, actively working in the stock market of securities. Salym Finance MFC was the first in Kyrgyzstan that carried out an IPO-public offering of the company's shares on the stock exchange, having previously proved to be a successful issuer by placing several issues of corporate bonds.
Board of Directors
Chairman of the Board of Directors - Kydyrmaev Bakytbek Ishenbekovich. A businessman, one of the initiators of the transit international wholesale trade through the Dordoi market, a member of the trade union committee of workers at the Dordoi market. Since 1995 to the present day, he has been working at the Dordoi market, engaged in wholesale trade of optics.
Member of the Board of Directors - Sydykov Aizhigit Kamchybekovich. Independent expert. He has experience in the microfinance sector since 1995. He held the position of deputy of chief operating officer at CJSC "MCC FINCA" in Kyrgyzstan, chief operating officer at LLC MDO "FINCA" in Tajikistan, CJSC "First microcredit company" - the Aga Khan development network in Kyrgyzstan, CJSC "Micro credit company OXUS".
Member of the Board of Directors - Konushbaev Aruuke Tynchtykbekovna. Private entrepreneur. Previously, she worked at JSC RSK Bank.
Member of the Board of Directors - Dzhamankulov Bolot Saparovich. Independent Expert. Doctor of Economics. From 1997 to 1998 worked as the First Deputy of the Ministry of External Trade and Industry of the KR.
Has extensive experience in banking and financial system, including in the management of “Rosinbank” OJSC, ATF-Bank Kyrgyzstan, AKB “Kyrgyzstan”, the National Bank. From 2013 to the present time works in the Institute of Economics of the National Academy of Sciences of the KR as Head of Department.
Member of the Board of Directors - Konokbaev Samat Surabaldyevich. Independent Expert.
He has experience in banking and financial system since 1998, including he has worked in the leadership of the National Bank of KR and in the Russian-Kyrgyz Development Fund. He holds a Master’s Degree in Public Administration in Transition Economics, gained in Japan (Tokio), has successfully completed the courses in Business Analyst from the Wharton Business School, University of Pennsylvania (USA).
Since its inception, the Company has had the name "Credit Systems", since March 2011, the Company has changed its name to "Salym Finance", the word "salym" means contribution to a good cause. The national symbol is given, which means the Company's desire to invest its resources in the well-being of society.