ANNOUNCEMENT 07 Jun 2010In June 2010, the government of Kyrgyzstan announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
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
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 toensure the stability of banking and payment systems, not to allow socialtensions, preserve the assets in the interest of the depositors andcreditors, and prevent the deterioration of financial conditions".