IFC Supports Transformation of Kyrgyz Republic’s Bai-Tushum into Deposit-taking Microfinance Organization

In Almaty: 
Assel Choibekova 
Phone: +(727) 298 0580 
E-mail: achoibekova@ifc.org




Bishkek, Kyrgyz Republic, October 14, 2009—IFC, a member of the World Bank 
Group, has helped Bai-Tushum and Partners, an organization in the Kyrgyz 
Republic, transform itself from a microcredit to a microfinance company that 
provides a broader range of financial services to micro-entrepreneurs across 
the country.  

IFC mentored senior Bai-Tushum managers in strategic and business planning 
before the company’s successful transition to a closed joint-stock microfinance 
institution, with foreign equity participation. Bai-Tushum now has applied for 
an official deposit-taking license from the National Bank of the Kyrgyz 
Republic that will allow it to provide deposit, savings, and related services 
to the public.  

The IFC Azerbaijan and Central Asia Microfinance Transformation Support Project 
provides advisory services to businesses in the Kyrgyz Republic and across the 
region that want to become microfinance institutions. Services include 
providing support for organizational and financial restructuring, investor 
relations, and consulting in key organizational and institutional 
capacity-building activities relevant to the transformation process.  

Bai-Tushum, a long-term IFC investment client in the Kyrgyz Republic, is now 
one of the leaders in the country’s microfinance market, holding an estimated 
26 percent market share. The company has a network of seven branches and 37 
sub-branches nationwide that provide financial products to micro-entrepreneurs 
in various sectors. 

“By being able to offer different deposit schemes to our clients, we will be 
able to mobilize savings from the population and increase our funding base,” 
said Gulnara Shamshieva, Bai-Tushum’s General Manager. “IFC’s expertise in the 
financial sector is helping us achieve this goal.” 

Since 2008, IFC has supported microfinance companies in Azerbaijan and Central 
Asia in their transformation processes to achieve increased financial 
sustainability.

About IFC 
IFC, a member of the World Bank Group, creates opportunity for people to escape 
poverty and improve their lives. We foster sustainable economic growth in 
developing countries by supporting private sector development, mobilizing 
private capital, and providing advisory and risk mitigation services to 
businesses and governments. Our new investments totaled $14.5 billion in fiscal 
2009, helping channel capital into developing countries during the financial 
crisis. For more information, visit www.ifc.org.