President Sadyr Japarov proposed the establishment of a new Islamic commercial bank in Kyrgyzstan with the participation of Bahrain, during a meeting with Hassan Khalifa Al-Jalahma, Chairman of the Board of Directors of the Central Bank of Bahrain, as part of his official visit to Manama.
Both leaders discussed opportunities to deepen bilateral cooperation in the financial and banking sectors. President Japarov highlighted the growing demand for Islamic banking services in Kyrgyzstan and noted that the country has developed a legislative framework to support banking activities based on Islamic principles.
He emphasized that establishing such a bank could serve the Central Asian market, which includes over 80mn people, and potentially create the largest Islamic financial institution in the region.
In response, Chairman Al-Jalahma expressed full support for the proposal, emphasizing the Central Bank of Bahrain’s readiness to collaborate with Kyrgyzstan.
He also assured that Bahrain is prepared to offer training opportunities for Kyrgyz banking professionals and is eager to explore further cooperation with Kyrgyzstan’s National Bank and other financial institutions.
Al-Jalahma acknowledged the importance of this partnership, stating that Bahrain is committed to assisting Kyrgyzstan in its financial sector development and would carefully study the proposal to establish the Islamic financial institution.
Both sides agreed to initiate a cooperation program and work on implementing joint projects that could strengthen financial ties between the two countries.
The meeting concluded with a mutual agreement to continue fostering a robust and beneficial partnership, with both leaders confident in the broad prospects of Kyrgyz-Bahraini relations.
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