Recent decisions by the Brussels court confirmed that the accusations against 'Bakay Bank' regarding questionable financial operations are unfounded. This information was disseminated by the press secretary of the president, Askhat Alagozov.
“Thus, 'Bakay Bank' won the lawsuit against the Polish-Belgian non-governmental organization 'Open Dialogue Foundation' (ODF),” he noted.
In 2023, ODF published materials on its website calling for sanctions against 'Bakay Bank' for alleged involvement in schemes related to circumventing the embargo in favor of Russia.
In response to these false accusations, the bank filed a lawsuit against ODF and achieved a favorable court ruling.
The French-speaking commercial court in Brussels concluded that the 'Open Dialogue Foundation' made serious allegations but did not provide sufficient evidence to substantiate them. The court ordered the organization to remove the disputed materials, publish the full court decision on the main page of its website, and compensate for legal costs.
Amid this, another bank in Kyrgyzstan, 'Keremet Bank', found itself under sanctions from the USA and the UK due to suspicions of circumventing restrictions imposed against Russia. 'Kapital Bank' was also sanctioned by the UK.
It is important to note that sanctions are accusatory in nature, and banks are merely suspected of violations. Neither the USA nor the UK provided specific evidence for these accusations.
The President of the Kyrgyz Republic, Sadyr Japarov, has repeatedly denied these accusations, asserting that the sanctions against domestic banks are based on false information disseminated by certain non-governmental organizations and unscrupulous individuals.
In this regard, the head of state expressed Kyrgyzstan's readiness to conduct an independent international audit of the activities of the country's banks to ensure a complete and objective review.
The court's decision in the 'Bakay Bank' case is compelling evidence of the Kyrgyz Republic's commitment to adhering to international law and protecting the interests of domestic businesses abroad.
In the absence of specific evidence supporting sanctions against several banks, the state's position remains unchanged: Kyrgyzstan is ready to confirm the full transparency and legality of its financial institutions' operations,” Alagozov added.
