BAKU, Azerbaijan, September 22. The Ministry of Finance of Kyrgyzstan and state-owned Eldik Bank signed two memoranda of understanding with U.S. financial group StoneX Group in New York on September 21.
This was announced in a statement published by the press service of the Kyrgyz president, following the meeting between President Sadyr Japarov and StoneX Group Chief Executive Officer Philip Smith as part of the president’s working visit to the United States.
"The first memorandum of understanding was signed between the Ministry of Finance of the Kyrgyz Republic and StoneX Group. The second document was concluded between OJSC Eldik Bank and StoneX Group," the statement reads.
According to the information, the signing of the memoranda was part of discussions on further expanding and deepening commercial relations between Kyrgyzstan and StoneX Group.
During the meeting, the sides also discussed promising areas of cooperation, including trade in precious metals, price risk management, international settlements, and the use of modern financial instruments.
In addition, the sides discussed the possibilities of using international financial infrastructure and StoneX Group’s expertise to implement new projects in Kyrgyzstan.
Meanwhile, StoneX Group is a US-based financial services company providing institutional, commercial and governmental clients with access to global financial and commodity markets. Its services include trading and risk management solutions across a range of asset classes, including precious metals.
Kyrgyzstan has been developing its cooperation with international financial institutions and market participants as part of efforts to expand access to global financial markets and attract investment. The country also remains active in the international trade of precious metals, which is one of the areas discussed between Kyrgyzstan and StoneX Group.
