Chang An is no longer a bank

AKIPRESS.COM - The Chang An Investment Bank JSC returned the license for banking operations in national and international currency on Sept 4, the National bank of Kyrgyzstan said.
The bank was removed from the registry of licensed banks, the regulator said.
The license was returned after the Chang An received a new license of microfinance company.
The new law on the National Bank envisaged increasing the authorized capitals of banks to 600 million soms until the end of July 2019, and those banks unable to do so were proposed to become microfinance companies.
The Chang An failed to increase its authorized capital and turned into a microfinance company on June 13.