Interest in Islamic finance is growing sharply in Kyrgyzstan

According to the National Bank of Kyrgyzstan, demand for Islamic finance has increased by almost 50 percent since the beginning of this year.

According to experts from the National Bank, the population considers the terms of Islamic financial institutions to be more attractive than those of traditional banks and credit unions.

In particular, in 2024, the volume of Islamic finance exceeded 10 billion soms, an increase of 45% compared to 2023. By the summer of 2025, this figure reached 12.1 billion soms (an increase of 33.6%).

This process is observed in all areas where Islamic finance is used. In particular, the greatest growth was recorded in the consumer credit segment. Since the beginning of this year, citizens have received funds from Islamic financial institutions for various needs in the amount of about 2.4 billion soms - this is 49.9% more than at the end of 2024.

Islamic mortgages are also gaining popularity in the country. The growth in this area has reached 32.8%: the amount of funds allocated for the purchase of housing is 4.3 billion soms.

It is noteworthy that business financing through Islamic lending is also growing steadily.

Samara Maytashova, Head of the Islamic Financial Products Department of the National Bank, said that the growth in demand for Islamic finance is due to a fundamentally different structure of the relationship between the bank and the client.

For your information, there is currently one Islamic bank, 4 conventional banks with an "Islamic window," and 10 financial institutions that adhere to Islamic principles operating in the country.