Officials said Kyrgyzstan’s state-owned ABank and Eldik Bank had ended business ties with 284 companies flagged as having elevated sanctions risks by Nov. 5, while 41 others were still being monitored or reviewed.
ABank accounted for 115 of the terminated relationships and had 37 companies under monitoring. Eldik Bank ended ties with 169 companies, while four more were being reviewed. The figures came after a Nov. 5 meeting of a working group of government agencies chaired by Bakyt Sydykov, the president’s special representative for sanctions policy and risk mitigation.
Participants discussed government agencies’ efforts to find and check companies and other legal organizations considered to pose higher risks related to sanctions. They also discussed creating and using a list of those companies and organizations. They also discussed how to coordinate with the European Union, the United States and the United Kingdom.
They discussed steps to make financial activity clearer and improve cooperation among government bodies, regulators and banks. The companies’ names and the specific reasons for the banks’ decisions were not made public in the reporting. The figures show that the companies were considered at higher risk; they do not establish that every affected company violated sanctions.
Monitoring and review of the other 41 companies are ongoing.