CZ Proposes Kyrgyzstan’s Bereket Bank for Digital Assets

President Sadyr Japarov has announced that Bereket Bank, formerly known as the Kyrgyz Investment and Credit Bank (KICB), is being positioned to become a central player in the nation's digital asset and digital banking landscape. This initiative aims to attract global investment and modernize financial services within Kyrgyzstan. The announcement was made during an interview with the Kabar news agency.

Japarov clarified that Bereket Bank is entirely private, with no government ownership. The goal is to open Kyrgyzstan’s doors to foreign capital while offering modern digital finance services centered around virtual assets—a term used for digital forms of value, such as cryptocurrencies, that operate on secure blockchain networks.

A Private Vision for a Digital Future

President Japarov explained that the idea began during Binance founder Changpeng Zhao's visit in May 2025, when Zhao suggested creating a digital-first bank in Kyrgyzstan. Initially, Japarov wanted it to be state-run, but Zhao preferred a privately managed model. Eventually, both sides agreed on a partnership focused on innovation and foreign investment.

To bring expertise to the project, former Parliament Speaker Marat Sultanov, a respected banker, was invited to help with the setup. Japarov’s son, Nurdoolot Nurgozhoev, also joined as a co-founder to gain hands-on business experience. The President emphasized that the state remains uninvolved, describing Bereket Bank as a sign of Kyrgyzstan’s shift toward entrepreneurship and technological growth.

According to the President, Binance’s involvement sends a clear signal: global tech leaders recognize Kyrgyzstan’s stability, its ongoing anti-corruption efforts, and its readiness to embrace digital transformation. Many nations have sought Binance’s partnership, yet Zhao chose Kyrgyzstan—a move that could channel billions of dollars in investment into the country’s economy.

Bridging Tradition and Innovation

Bereket Bank will operate like any traditional bank but focus heavily on digital currencies and blockchain-based services. This shift aligns with a growing global trend. According to the World Bank, digital financial services are expanding at record speed, with over 76% of adults worldwide now using some form of digital banking—up from just 51% in 2011.

Other countries are seeing similar moves. For example, Singapore’s DBS Bank recently integrated blockchain technology to speed up cross-border settlements, showing how digital banking can enhance both efficiency and transparency. Bereket Bank aims to bring that same level of innovation to Central Asia.