BAKU, Azerbaijan, September 22. The Ministry of
Finance of Kyrgyzstan and state-owned Eldik Bank signed two
memoranda of understanding with U.S. financial group StoneX Group
in New York on September 21.
This was announced in a statement published by the press service
of the Kyrgyz president, following the meeting between President
Sadyr Japarov and StoneX Group Chief Executive Officer Philip Smith
as part of the president’s working visit to the United States.
"The first memorandum of understanding was signed between the
Ministry of Finance of the Kyrgyz Republic and StoneX Group. The
second document was concluded between OJSC Eldik Bank and StoneX
Group," the statement reads.
According to the information, the signing of the memoranda was
part of discussions on further expanding and deepening commercial
relations between Kyrgyzstan and StoneX Group.
During the meeting, the sides also discussed promising areas of
cooperation, including trade in precious metals, price risk
management, international settlements, and the use of modern
financial instruments.
In addition, the sides discussed the possibilities of using
international financial infrastructure and StoneX Group’s expertise
to implement new projects in Kyrgyzstan.
Meanwhile, StoneX Group is a US-based financial services company
providing institutional, commercial and governmental clients with
access to global financial and commodity markets. Its services
include trading and risk management solutions across a range of
asset classes, including precious metals.
Kyrgyzstan has been developing its cooperation with
international financial institutions and market participants as
part of efforts to expand access to global financial markets and
attract investment. The country also remains active in the
international trade of precious metals, which is one of the areas
discussed between Kyrgyzstan and StoneX Group.
