Kyrgyz Republic : Nationalisation of AsiaUniversalBank
Description
By the Decree of the Provisional Government No.56 from 7 June 2010, the Kyrgyz Republic nationalized one of the country’s largest banks, the foreign-controlled “AsiaUniversalBank.”
According to the decree, the bank is nationalized "with the purpose to ensure the stability of banking and payment systems, not to allow social tensions, preserve the assets in the interest of the depositors and creditors, and prevent the deterioration of financial conditions".
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | |
| Is there any evidence that alternatives to the proposed measure were considered? | |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | |
| Was such evidence identified? | |
| Is such evidence publicly available? | |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | |
| Did the government state its intention to review the measure within one year of implementation? |
Date Discovered:
Implemented: Yes
Date of inception: 7 Jun 2010
GTA Evaluation: Red
Source:
Kyrgyzstan: Roza Otunbaeva approved the nationalization of AsiaUniversalBank - http://enews.fergananews.com/news.php?id=1732&mode=snews
Decree of the Provisional Government No.56 from 7 June 2010
Government Response:
- 229 reads
