The Department of Precious Metals under the Ministry of Finance of the Kyrgyz Republic held an extended meeting with the participation of the banking sector and leading domestic jewelry manufacturers. The parties discussed the practical application of an industry support measure — the sale of gold and silver from the State Fund to manufacturers with a 2% discount.
The topic of the meeting was the practical application of the Procedure for the sale of precious metals, approved by the Resolution of the Cabinet of Ministers of the Kyrgyz Republic No. 175 dated March 13, 2026.
The meeting was opened by the Director of the Department of Precious Metals, A.A. Kadyrakunov, who emphasized the strategic importance of state support for the jewelry industry. According to him, the introduction of the mechanism for selling gold and silver from the State Fund with a 2% discount is an unprecedented measure to stimulate domestic production.
The Head of the Sales Sector, A. Omarali uulu, explained the technical aspects of the Procedure in detail, including the conditions for receiving raw materials and the possibility of a deferred payment for up to 180 calendar days.
The Head of the State Control Sector, B. Temirbekov, highlighted issues of anti-corruption, paying special attention to minimizing corruption risks during the interaction between the Department and domestic manufacturers and individual entrepreneurs.
The meeting was attended by representatives of major industry enterprises — “Kyrgyz Jewelry Plant Altyn”, “Kyrgyz Zerger”, “Opal”, and others, as well as numerous individual entrepreneurs. The participants actively engaged in the discussion, raising questions regarding technical difficulties when working with the aforementioned Procedure.
An important part of the meeting was the presentation by representatives of the banking sector. Employees of CJSC “Demir Kyrgyz International Bank”, CJSC “KICB”, and other banks answered questions in detail about the mechanisms for issuing bank guarantees — a mandatory condition for receiving raw materials with deferred payment — and the banks also confirmed their readiness to cooperate with manufacturers.
Following the discussion, the proposals and comments expressed by the meeting participants regarding the improvement of the processes and procedures for implementing the Procedure for the release of precious metals to domestic manufacturers were noted and will be taken into account in further work on its improvement.
