Bank of Asia CJSC supports program "Academy of Women Entrepreneurs"

Today the mentoring program "Academy of Women Entrepreneurs" was held in the walls of Bank of Asia CJSC, where 20 women from Bishkek, Osh and Dzhalal-Abad took part.

Bank of Asia CJSC provided its platform to women entrepreneurs with the purpose of assisting them in obtaining knowledge to help them unlock their potential, acquire skills to launch and scale their businesses.

 The event started with gamification to increase motivation, concentration and other positive values in the group.

Ismailov Edil, First Deputy Chairperson of the Bank of Asia CJSC, made a welcoming speech and emphasized the role of women in the economy. According to him, 60% of all loans today fall on women entrepreneurs. Women in different sectors are already proving that they are ready to make additional efforts to achieve more sustainable business practices.

Next, Sharapov Nurlan, the Head of Credit Department, spoke in more detail about the main aspects of lending in business. He emphasized the importance of keeping financial records and analysis on business. After all, according to him, these techniques further minimize the risk of financial gaps, and reduce the likelihood of theft among employees of companies.

Mambetalieva Aizhan, Sustainable Development Project Manager, made a closing speech on the topic of gender bonds. As an example, she compared this type of security with a deposit. She pointed out that in case of early redemption, the advantage of gender bonds is that interest is accrued and paid by the moment of presentation, while for a deposit part of the interest is burned off, as almost all deposits have certain requirements for early closure.

The Academy for Women Entrepreneurs (AWE) program was created by the U.S. Embassy in the Kyrgyz Republic in cooperation with the American Chamber of Commerce in the Kyrgyz Republic - is a six-month hybrid initiative that will select 20 women small business owners or women with ideas for starting a business from newly constructed buildings in the Bishkek, Osh, and Dzhalal-Abad. Successful candidates will participate in workshops and sessions conducted by trainers from the United States of America and the Kyrgyz Republic.