Capacity Building for Savings and Credit Union and Microfinancial Systems

Asian Development Bank
Central and West Asia Department, Kyrgyz Resident Mission
The TA was approved in December 2002 in response to the Government’s request to strengthen the capacity of the National Bank of the Kyrgyz Republic (NBKR) to regulate and supervise savings and credit unions (SCUs), established under the ADB-funded Rural Financial Institutions Project (RFIP),1 and microfinance institutions (MFIs). An urgent assistance was needed to conduct rapid assessment/audit of SCUs to ensure that the frauds detected in June 2002 were not widespread. Assistance was also required to strengthen SCUs and MFIs’ supervision by (i) updating the SCU regulations to tighten the prudential requirements, provide for sufficient capital adequacy, and promote deposit taking; (ii) establishing adequate off-site and on-site monitoring and supervising systems with financial early warning to flag poorly performing institutions; and (iii) strengthening supervision capacities at FCCU and NBKR. The TA was approved to address these requirements
See project site:
Kyrgyz Republic
0 USD 550,000

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