Kyrgyzstan’s National Bank, German LBBW bank discuss trade financing

BISHKEK, Kyrgyzstan, April 5. Representatives
from the National Bank of Kyrgyzstan and Germany’s Landesbank Baden
Württemberg (LBBW), a commercial bank, discussed trade financing
development issues in Kyrgyzstan, Trend reports.

According to the National Bank, the meeting discussed
Kyrgyzstan’s current economic position and future prospects, as
well as the country’s banking sector development results in 2023
and compliance with international sanctions.

As part of the tour, the LBBW held a session on sanction compliance
and foreign payments for National Bank staff and commercial banks
in Kyrgyzstan. Representatives from the EBRD and KPMG International
Limited also attended the event, where they shared insights into
compliance function development trends and practical implementation
advice.

Kyrgyzstan’s commercial banks shared their experiences in
sanction compliance and compliance control overall during the
seminar.

LBBW is a federal bank of the state of Baden-Württemberg in
Germany, ranking among the top ten largest banks in the
country.