About

FinanceCreditBank KAB Open Joint Stock Company was established in 2005. On November 18, 2005, the National Bank of the Kyrgyz Republic granted prior approval for the establishment of FinanceCreditBank OJSC in Kyrgyzstan. On December 30, 2005, FinanceCreditBank received the NBKR (National Bank of the Kyrgyz Republic) license to engage in banking activities after completing the required documentation and registration process. This license authorizes the Bank to conduct a wide range of banking activities, including investment services. On February 6, 2006, FinanceCreditBank OJSC commenced full-scale customer service operations.

FinanceCreditBank OJSC is a modern financial institution offering a comprehensive suite of banking services with competitive interest rates and a strong commitment to delivering top-notch service with maximum efficiency. The bank is dedicated to an active growth strategy and aims to become a prominent player among the commercial banks of the Kyrgyz Republic in the next two years.

Currently, FinanceCreditBank OJSC has a branch network that spans six main regions of the Kyrgyz Republic, featuring six branches and 14 savings banks.

The Bank's primary focus is on the development of retail banking, encompassing consumer and mortgage lending, as well as the deposit market. Additionally, the Bank is actively expanding its presence in other business sectors, including corporate and small to medium-sized enterprises (SME) banking.

Currently, the Bank maintains correspondent accounts with major banks in the Russian Federation and the Republic of Kazakhstan. In the future, we plan to establish correspondent relationships with globally recognized banks in North America, Europe, and Asia.

Mission

The Bank's mission is to provide all customers with a range of high-quality banking products and services. 

Our fundamental principle is building trust between the Bank and its customers, which is rooted in mutual development and partnership. This mission dictates that the core drivers of the entire Bank team's activities should be active creation and utility. The needs of our customers serve as our motivation for development, and we are the cornerstone in the process of intensive growth. We firmly believe that business holds significance only when all of its members benefit.

The Bank's philosophy is founded on principles of harmony, justice, political impartiality, confidence, development, and rationality. Achieving harmony in relationships, both within the Bank and with its external environment, requires justice, confidence, and political impartiality. Political impartiality stems from the recognition that aligning with any particular political ideology can distract from addressing immediate challenges. Confidence and justice in relationships are nurtured through rationality, which is attained through continuous self-improvement and the Bank's daily development efforts. Real development becomes feasible when harmonious relations are cultivated, thus reducing conflicts and contradictions.

Address by the Chairman

Ladies and Gentlemen,

Welcome to the updated official website of FinanceCreditBank, an Open Joint Stock Company that has been operating since 2005. FinanceCreditBank is a modern financial institution that offers a wide range of banking services at competitive rates, emphasizing speed and quality of service. Our bank provides a comprehensive suite of financial services, including commercial and consumer lending, all-inclusive payment and cash services, fixed-term deposits, currency exchange transactions, money transfers, and a secure depository. The primary focus of our Bank's activities is the development of retail business, encompassing consumer and mortgage lending, as well as the provision of remote banking services.

Our goal is to offer our customers a wide range of options for obtaining banking services. We firmly believe that client-centeredness and professionalism are the cornerstones of our stable growth and competitive advantage. FinanceCreditBank actively participates in the public life of Kyrgyzstan, supporting various positive and socially significant events.

We express our gratitude to all our customers and partners for their trust and support. We look forward to continued mutually beneficial cooperation. Special appreciation goes to the dedicated employees of the Bank, whose professionalism and creative approach contribute to our successful development.

I can confidently say that this address reflects the ideology of our cohesive team.

Chairman of the Management Board of FinanceCreditBank OJSC 

Correspondent network

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FATCA

Information for the Bank's partners: In order to prevent evasion of the payment of taxes on income received by US residents outside the United States, on March 18, 2010, the United States adopted the Foreign Account Tax Compliance Act (FATCA).

In accordance with the provisions of FATCA, foreign financial institutions (FFIs), which also include OJSC FinanceCreditBank (hereinafter the Bank), from 07.01.2014 are required to disclose transactions and balances in the accounts of American taxpayers, individuals, customers of the Bank to the US Internal Revenue Service (IRS).

In accordance with this recommendation, OJSC FinanceCreditBank, like all the Kyrgyz Republic banks, acceded to the agreement with the IRS and the Bank was assigned a GIIN (Global Intermediary Identification Number): E7E0WA.99999.SL.417.

Non-participation in FATCA has significant risks:

• sanction risks by the IRS and foreign financial institutions participating in FATCA in the form of a 30% tax deduction (penalty) on certain payments made by refused or not participating FFIs from July 1, 2014;
• risks associated with the termination of cooperation with correspondent banks in the United States.
• FFIs non-participating in the FATCA will be treated in the international community as potentially risk-related counterparties that may be involved in crimes related to tax evasion, money laundering obtained by criminal means.

The participation of OJSC FinanceCreditBank in FATCA does not take out of risk of withholding 30% tax (penalty) from outgoing payments of Customers made to or through FFIs that have refused or are not participating in FATCA, and therefore, before making a transfer, it is necessary to clarify information about participation in FATCA of the beneficiary bank, intermediary bank through the link http://apps.irs.gov/app/fatcaFfiList/flu.jsf.

Compliance Control

In order to prevent the use of the Bank as a tool for legislation (laundering) illegal income and financing of terrorism, as well as protecting the business reputation of the Bank and its customers, OJSC FinanceCreditBank has an "Internal Control Policy for Countering the Financing of Terrorism and Legislation (laundering) of criminal proceeds (CFT/LCP)," complying with all the requirements and norms of the Law of the Kyrgyz Republic" On countering the financing of terrorism and legislation (laundering) of criminal proceeds "dated August 06, 2018 No. 87 and regulatory acts of the NBKR.

The Bank’s current CFT/LCP Policy meets the requirements of the legislation of the Kyrgyz Republic and international standards. Based on the Policy, the Bank has an internal control system for CFT/LCP, the main areas of which are:

• Development and systematization of measures aimed at countering financing of terrorism and legislation (laundering) of criminal proceeds;
• Rule "Know Your Customer" - identification and examination of the Bank's customers based on the required documents and personal data;
• Identification and interdiction of operations related to financing of terrorism and legislation (laundering) of criminal proceeds;
• Systematic training and advanced training of Bank‘s employees, as well as ensuring the participation of all Bank‘s employees in the work on countering the financing of terrorism and legislation (laundering) of criminal proceeds;
• Improvement of software for the purpose of modern identification of suspicious customers and transactions subject to mandatory control;
• Documentary information, as well as storing information and documents obtained as a result of measures to counter financing of terrorism and legislation (laundering) of criminal proceeds;

The Bank operates the Compliance Control Service to organize the internal control system and achieve the aims established by the Policy.

OJSC FinanceCreditBank does not maintain correspondent relations with "shell banks," banks registered in offshore zones and in a number of countries that do not apply FATF recommendations.

Dear partners,
In order to reduce costs and risks in establishing bilateral correspondent relations, OJSC FinanceCreditBank is registered on the website: http://www.swift.com/ for the safe exchange of standardized data "Know your client," which can be found at the following link: https://www.swift.com/our-solutions/compliance-and-shared-services/financial-crime-compliance/the-kyc-registry.