The Eurasian Development Bank (EDB) will support the modernization of the Central Depository of Kyrgyzstan
The Eurasian Development Bank (EDB), CJSC Central Depository and RKDF have signed an agreement on the provision of technical assistance aimed at modernizing the accounting system of the Central Depository of the Kyrgyz Republic.
The project will be the next stage in the modernization of Kyrgyzstan’s capital market infrastructure. Earlier, with the support of EDB and RKDF, the IT infrastructure of the Kyrgyz Stock Exchange was upgraded. The technical assistance will now focus on the development of the Central Depository, a key institution responsible for recording rights to securities and ensuring the reliability of the capital market’s settlement infrastructure.
The need for modernization is part of the stock market reform being carried out in the Kyrgyz Republic. As part of the project, the Central Depository’s accounting system will be modernized, its IT infrastructure upgraded, electronic document management will be introduced with all professional participants in the securities market, and real-time data exchange on securities transactions will be ensured. The project also provides for the integration of the depository system with the Kyrgyz Stock Exchange and other accounting platforms, improvement of business processes and the regulatory framework, professional development of specialists, as well as technical and legal support for the project.
Alexey Skatin, Deputy Chairman of the Management Board of the Eurasian Development Bank:
“The development of modern financial infrastructure is a necessary condition for building an efficient capital market. Modernizing the Central Depository will increase the reliability and speed of securities transactions, expand opportunities for digital interaction among market participants, and create a technological foundation for the further development of the financial sector.”
Anarkan Nogoybaeva, General Director of CJSC Central Depository:
“For the Central Depository, this is a strategic project. It will enable us to move to a new level of digitalization, automate key processes, ensure real-time information exchange, and improve the quality of services for all securities market participants. The modernization will lay the foundation for the further development of the Kyrgyz Republic’s stock market and its integration with international financial infrastructure.”
The implementation of the project will improve the reliability and efficiency of Kyrgyzstan’s securities market, shorten the time required to process transactions and execute instructions, reduce operational risks, and create modern digital infrastructure for recording financial instruments. The project will contribute to strengthening investor confidence and further enhancing the country’s investment attractiveness.