BISHKEK, Kyrgyzstan, October 16. The volume of Islamic financing in Kyrgyzstan has increased since the beginning of the year, reaching about 6.7 billion soms ($78.3 million), Trend reports via the National Bank of Kyrgyzstan.
The financing covers the following sectors:
Industry: 300 million soms ($3.5 million) - an increase of 100 percent since the beginning of the year.
Agriculture: 1 billion soms ($11.6 million) - an increase of 61.5 percent.
Trade: 800 million soms ($9.3 million) - an increase of 12.4 percent.
Construction: 500 million soms ($5.8 million) - an increase of 8.8 percent.
Mortgage: 1.9 billion soms ($22.2 million) - an increase of 83 percent.
Consumer financing: 1.3 billion soms ($15.2 million) — a decrease of 47.8 percent.
Other purposes: 800 million soms ($9.3 million) - an increase of 77.5 percent.
To note, as of August 31, 2024, Kyrgyzstan had 21 commercial banks and 305 branches. Five of these banks provide services in accordance with Islamic banking and financing principles in the national and/or foreign currencies.
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