Bailyk Finance

«Central Asian Microfinance Summit-2024» From September 19 to 20, 2024, CJSC MCC «Bailyk Finance» took part in the Central Asian Microfinance Summit, which was held in the historical city of Samarkand, Uzbekistan. The summit was organized by the Central Asian Microfinance Alliance to coordinate initiatives for the development of microfinance, exchange of best practices, and the introduction of new products and services to the market. The key topic of the event was «Support for small businesses». The participants discussed important aspects of the implementation of environmental, social and corporate governance (ESG) standards, as well as the development of Islamic finance, digitalization and the prospects of FinTech technologies. Such discussions highlight the relevance of strategies aimed at sustainable and inclusive development of the regional economy, as well as the need to support small businesses in the face of modern challenges. On the first day of the summit, General Director of CJSC MCC “Bailyk Finance” Чинара Молдажанова Moldazhanova Chinara Darkenbaevna took part in a panel discussion at the plenary session “The Role of Microfinance in Enterprise Development”. During the discussion, the important role of microfinance organizations in the development of small and medium businesses was emphasized. Chinara Darkenbaevna noted that effective cooperation between microfinance institutions and small businesses can become the basis for sustainable economic development, allowing talented entrepreneurs to implement their ideas and enter new markets. On the second day of the summit, as one of the key speakers, Chinara Darkenbaevna made a presentation on the topic “Implementation of the ESG agenda in the microfinance sector” using ZAO MCC “Bailyk Finance” as an example. In her speech, she shared the experience of social impact in the Company and spoke about the activities implemented within the framework of the ESG strategy, emphasizing the importance of responsible financing and sustainable development to support small businesses in the region. “The implementation of ESG approaches helps create favorable conditions for entrepreneurs, promoting their growth and development, as well as increasing social responsibility in the field of microfinance,” Chinara Darkenbaevna noted in her speech.

Incofin Investment Management's climate-smart initiatives in Kyrgyzstan! 🤝 Incofin Investment Management in Kyrgyzstan is partnering with Bailyk Finance to finance climate solutions for smallholder farmers, low-income climate households and MSMEs, helping them to minimize the negative impacts of climate change and prepare to withstand ❄ 🔥 climate shocks.   We are very pleased that Incofin Investment Management thanked all participants in this transaction for their joint work: Chinara Moldazhanova, Lyubov Aramyan, Jamshed Khodzhiev, Elisabeth Bulcke, Heidy Zuzunaga Ferrigno! 👍

The CEO of MCC “Bailyk Finance” spoke at the EBRD forum on youth entrepreneurship development. Chinara Moldazhanova, the CEO of MCC "Bailyk Finance," participated in the EBRD forum on youth entrepreneurship development in Tashkent on December 12, 2023. The forum was dedicated to the topic of youth in business, particularly focusing on the EBRD allocating 200 million euros to support small and medium-sized entrepreneurs aged between 18 to 34 in Central Asia. To execute this program, the EBRD plans to collaborate with 20 banks across Central Asia. During the panel discussion, the CEO shared the experience of financing youth at Bailyk Finance and emphasized the significant importance of supporting youth entrepreneurship for the development of the Central Asian region. She noted that it's commendable that the EBRD's seven-year program not only involves financing youth but also focuses on developing tools for teaching entrepreneurship basics. "This is crucial because the loan repayment rates among young borrowers are notably lower. Hence, it's essential to address and mitigate these risks through education, digitalization of business processes, as the youth increasingly prefer mobile applications and online operations. Moreover, promoting financial literacy is imperative," highlighted the CEO of MCC "Bailyk Finance."