The State Mortgage Company of Kyrgyzstan
OJSC "State Mortgage Company" is the only authorized body in the field of mortgage lending
Goal
Providing affordable housing for citizens of the Kyrgyz Republic and creating a long-term sustainable mechanism for attracting financial resources to the sector of mortgage lending and economy class housing construction.
Mission
Contributing to the sustainable development of the economy of the Kyrgyz Republic by developing the mortgage market, improving people's access to housing, solving social problems in the area of housing in order to ensure the prosperity of society and improve living standards.
Vision
Stage Mortgage Company will become a sustainable and steadily developing mortgage organization of the Kyrgyz Republic, providing its citizens with the opportunity to purchase affordable housing funded by long-term and low-cost mortgages. Through a multiplier effect, Stage Mortgage Company will contribute to the growth of the economy and the construction industry, the increase in production, sales of construction materials and employment.
Goal
Providing affordable housing for citizens of the Kyrgyz Republic and creating a long-term sustainable mechanism for attracting financial resources to the sector of mortgage lending and economy class housing construction.
Mission
Contributing to the sustainable development of the economy of the Kyrgyz Republic by developing the mortgage market, improving people's access to housing, solving social problems in the area of housing in order to ensure the prosperity of society and improve living standards.
Vision
Stage Mortgage Company will become a sustainable and steadily developing mortgage organization of the Kyrgyz Republic, providing its citizens with the opportunity to purchase affordable housing funded by long-term and low-cost mortgages. Through a multiplier effect, Stage Mortgage Company will contribute to the growth of the economy and the construction industry, the increase in production, sales of construction materials and employment.
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Location
Kyrgyz Republic, Bishkek
Address
Kyrgyz Republic, 1 Chyngyz Aitmatov avenue, Bishkek, Head office - st. Toktogula 228
Website
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Member Activities
Open Joint Stock Company “State Mortgage Company” (SMC) is a state institution, which performs the function of an operator of state housing programs of the Kyrgyz Republic and an authorized body in the field of housing mortgage financing.
In order to ensure the full functioning of the mechanism of mortgage lending and housing construction in the Kyrgyz Republic, as well as to create conditions for the implementation of the program to provide housing to citizens, the Government of the Kyrgyz Republic established SMC by the Resolution of the Government of the Kyrgyz Republic No. 499 dated July 15, 2015.
The full-fledged owner of SMC with 100% participation in the capital is the Department of Affairs of the President of the Kyrgyz Republic. The authorized capital of the company is 330 million USD (as of the end of 2024).
Due to the support of international partners in the development and implementation of housing programs in accordance with international standards, currently SMC is a stable financial institution in the mortgage market of the Kyrgyz Republic. Financial indicators of the company have an annual tendency to improve, and the level of repayment of mortgage products issued under the state housing programs is about 99.9%
At the same time, it is important to understand that SMC along with performing the function of an operator of state housing programs of the Kyrgyz Republic has a social orientation in its activities in terms of ensuring the availability of state mortgage loans for the population of the Kyrgyz Republic with small and medium income levels.
Social orientation and availability of mortgage products of SMC is expressed in low interest rates on loans (4 and 8% per annum) and their long-term nature (up to 25 years). At the same time, we note that SMC issues mortgage products to households that do not have their own homes.
Thus, SMC is an authorized body in the field of housing finance, which has a responsible social mission to organize system mechanisms and processes aimed at providing the needy citizens of the country with affordable housing and does not pursue commercial goals to make profit.
In order to ensure the full functioning of the mechanism of mortgage lending and housing construction in the Kyrgyz Republic, as well as to create conditions for the implementation of the program to provide housing to citizens, the Government of the Kyrgyz Republic established SMC by the Resolution of the Government of the Kyrgyz Republic No. 499 dated July 15, 2015.
The full-fledged owner of SMC with 100% participation in the capital is the Department of Affairs of the President of the Kyrgyz Republic. The authorized capital of the company is 330 million USD (as of the end of 2024).
Due to the support of international partners in the development and implementation of housing programs in accordance with international standards, currently SMC is a stable financial institution in the mortgage market of the Kyrgyz Republic. Financial indicators of the company have an annual tendency to improve, and the level of repayment of mortgage products issued under the state housing programs is about 99.9%
At the same time, it is important to understand that SMC along with performing the function of an operator of state housing programs of the Kyrgyz Republic has a social orientation in its activities in terms of ensuring the availability of state mortgage loans for the population of the Kyrgyz Republic with small and medium income levels.
Social orientation and availability of mortgage products of SMC is expressed in low interest rates on loans (4 and 8% per annum) and their long-term nature (up to 25 years). At the same time, we note that SMC issues mortgage products to households that do not have their own homes.
Thus, SMC is an authorized body in the field of housing finance, which has a responsible social mission to organize system mechanisms and processes aimed at providing the needy citizens of the country with affordable housing and does not pursue commercial goals to make profit.
Member Tenure
On September 22, 2022, the 8th meeting of the Asian Secondary Mortgage Market Association (ASMMA) in Malaysia was held, during which SMC was unanimously accepted as a full member of ASMMA.
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