The issue of intensifying cooperation between US banks and banks of Kyrgyzstan was discussed

On March 1, 2024, the Special and Plenipotentiary Ambassador of the Kyrgyz Republic to the USA and Canada, B. Amanbaev, met with Jeff Maunts, the Head of Foreign Mission Relations at the prominent American bank, Citi.

The meeting addressed the need to restore cooperation between Kyrgyz and American banks, as well as the opening of correspondent accounts for Kyrgyz banks at Citi. In his speech, Bakyt Amanbaev emphasized that Kyrgyzstan is a country rich in natural resources, located at the heart of the Central Asian region, and provided detailed information on profitable sectors of the Kyrgyz economy for foreign investors. He also highlighted opportunities available in the country, which, for various reasons, have not been fully utilized to expand trade and economic relations between the USA and Kyrgyzstan, stressing the necessity of restoring interbank cooperation to tap into these opportunities.

Mr. Maunts noted that nearly half of all dollar transactions worldwide are processed through City Bank, expressing interest in enhancing bilateral cooperation with the embassy and banks of Kyrgyzstan. Plans for further cooperation were agreed upon.

For reference: Citi, an American bank, is one of the four largest banks in America, headquartered in New York. The bank has 2,649 branches worldwide, including 723 branches in the USA. City Bank's own capital amounts to $201.19 billion, with a turnover of $75.338 billion. The bank's assets are valued at $2.412 trillion, and it employs 240,000 people worldwide.