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Vagit Ismailov

Journalist

Vagit Ismailov is a Kazakhstani journalist. He has worked in leading regional and national publications.

Articles

Prosecutor Justice Crime Corruption Rule of law

Former Prosecutor General Beknazarov Detained in Kyrgyzstan

A former member of the Provisional Government and former Prosecutor General, Azimbek Beknazarov, has been detained in Kyrgyzstan. The State Committee for National Security (SCNS) said he is suspected of embezzling significant sums of money. The money in question was seized in April 2010 from bank boxes and the Government House during the revolutionary events. The investigation found that Beknazarov, then a member of the Provisional Government, was involved in the theft of these funds through the purchase of expensive real estate in Kyrgyzstan, including in Issyk-Kul, Bishkek, and the Chui and Jalal-Abad regions. “On September 12, 2024, A. Beknazarov was detained and placed in the temporary detention facility of the SIZO of the SCNS KR on suspicion of committing a crime under Article 222 part 3 p.3 of the Criminal Code of the Kyrgyz Republic (Legalization, laundering of criminal proceeds in large amounts),” the SCNS said in a statement. According to the investigation, the funds were allegedly seized from several bank boxes with the permission of the Bishkek prosecutor. At that time, $21 million belonged to President Kurmanbek Bakiyev's cronies. These funds were transferred to the National Bank for safekeeping. However, according to unconfirmed reports, the seized funds may have reached $100 million, which led to rumors that some money did not get into the vault. Azimbek Beknazarov is one of the key figures in Kyrgyz political life. He served as Prosecutor General and Deputy Prime Minister of Roza Otunbayeva's interim government from 2005 to 2010. Beknazarov was also actively involved in the coups d'état of 2005 and 2010, for which he was nicknamed “the bulldozer of revolutions.” The politician was also among the defendants in the “Kempir-Abad case”, in which he was acquitted in June 2024 with his associates.

4 months ago

Economy Climate Change USAID Environmental Awareness Climate Emergency IMF Climate Change Adaptation Strategy

Climate Crisis May Drastically Reduce Production in Central Asia

Central Asia may face serious economic losses due to climate change, which may reach a 6.5% annual decline in production by 2060. These figures were announced by Bo Li, Deputy Managing Director of the International Monetary Fund (IMF), at the “New Economic Challenges for Long-Term Development” forum. According to Bo, the Caucasus and Central Asia region is particularly vulnerable to climate change. Soaring temperatures and increasing frequency of droughts and floods are reducing crops, destroying infrastructure, and lowering living standards. “According to IMF estimates, if no action is taken to slow down climate change, Central Asia will lose up to 6.5% of its output annually by 2060,” Bo said. He noted that possible losses could be reduced with joint actions such as reducing carbon emissions, transitioning to a green economy, and adapting to changing climate conditions. As an example, Bo noted the efforts of Kyrgyzstan, that has already started to increase electricity tariffs and reduce energy subsidies, allowing the country to adapt to climate challenges and create new jobs in the “green” sector. Many Central Asian countries are taking steps to reform the energy sector and introduce “green” technologies. For example, Kazakhstan is actively cooperating with several countries to develop renewable energy and reform the energy sector. One key example is the partnership with the United States under the USAID Power Central Asia program. This initiative supports Kazakhstan and other Central Asian countries in modernizing energy markets, introducing clean energy, and encouraging private investment in renewable energy. Uzbekistan is undergoing a major reform of its energy system to reduce subsidies and promote renewable energy. The country plans to increase the share of renewable energy to 25% by 2030, which includes solar and wind energy projects. These measures will help Uzbekistan improve energy efficiency and reduce carbon dioxide emissions. In Tajikistan, USAID is implementing the Power Central Asia program, which supports energy cooperation in the region and encourages using renewable energy to help reduce dependence on fossil fuels and modernize energy systems.

4 months ago

Industry Aviation Air Transport Civil Aviation Helicopters

Kyrgyzstan to Begin Manufacturing Helicopters

Daiyrbek Orunbekov, Head of the Information Policy Service of the Kyrgyz Presidential Administration, stated on his Facebook page that Kyrgyzstan has begun production on ultralight small-size two-seat helicopters. Describing the helicopter, he wrote: “It is a two-seater, can hold 70 liters of fuel, and flies 600 kilometers in 3 hours; pricing starts at around 60 thousand dollars." He also added that automobile, helicopter, and other manufacturing plants would soon be opening in the country. The production of helicopters in Kyrgyzstan, assembled from components supplies by Poland, is the country's first foray into the market. The helicopters can be used for various tasks, from pilot training and aerial photography to police patrols, power line control, medical personnel transport, and aerial agricultural work, and according to Orunbekov, interest has already been expressed by UAE companies in the test models. The Times of Central Asia previously reported that the German company "Linding Group" plans to invest some 10 million dollars in assembling aircraft in Almaty, Kazakhstan.

4 months ago

Finance Banking Digitalization Financial Market

Swedish Company to Help Turkmenistan Establish Fast Payment System

The Swedish IT company "CMA," specializing in software solutions for financial markets, has signed an exclusive agreement with Turkmen company "Abraýly Işler", at the International Conference “HI-TECH Turkmenistan 2024.” Noting the value of cooperation in creating a national system of fast payments, CMA Regional Director Maxim Nescheret stated, “We have already implemented similar projects in more than 50 countries, and we hope to share our experience with Turkmenistan in creating this important system.” CMA, founded in 1983, currently provides over 37 central banks and many commercial banks worldwide with solutions for instant payment systems, central depositories, and automated clearing houses. Built on CMA's advanced technology platform for high performance, scalability, and security, the service is customized to meet each client's needs. In addition to the fast payment system, CMA is engaged in discussion with Turkmenistan's stock market regarding the possibility of creating basic services, including a central depository and settlement center, to help attract external investments and expand cooperation with foreign investors. Although Turkmenistan is actively modernizing its banking sector and digital payments, including the introduction of a contactless payment system and mobile applications to facilitate transactions, challenges remain. One of the main issues is the need for infrastructure to support fast and contactless payments. Although local banks such as Halkbank have introduced mobile apps and terminals for contactless transactions, their usage remains limited. Moreover, people often lose money due to bank failures and technical problems.

4 months ago

Army State Budget Defense Military Finance

Tajikistan to Increase Defense Budget

Tajik authorities plan to increase the 2025 defense, law enforcement, and judiciary budget to 4.7 billion somoni ($446 million); a rise equivalent to $92 million compared to the $354 million spent in 2024. As a percentage, spending on the army and security forces will rise to 2.8 percent of GDP, up 0.2 percent from the previous year. In adherence to the State Secrets Act, data on the breakdown of the budget remains confidential. However, issues concerning the efficient spending of allocated funds have recently come to light. In August 2024, the Agency for State Financial Control and Anti-Corruption reported that over 120 million TJS ($11.3m), intended for clothing and food for servicemen, had been embezzled from the Defense Ministry. In response, a criminal case was opened against 52 suspects, including ministry officials. According to documentation of increased military spending in Central Asia by the Stockholm Institute for Peace Research (SIPRI), in 2023, Tajikistan, Kazakhstan, and Kyrgyzstan's expenditure on defense totalled $1.8 billion. Figures for Uzbekistan and Turkmenistan remain unknown. The growth of the defense budget in the region is due to several factors, and in particular, border conflicts between Central Asian countries, the unstable situation in Afghanistan, and the war in Ukraine which have forced the region's states to strengthen their defense and revise strategic priorities regarding security. Changes in the geopolitical environment have also impacted military expenditure. Whilst Central Asian states previously relied heavily on Russia for security, the number of external partners has increased significantly. Alongside Russia, countries such as Turkey, Iran, Saudi Arabia, the United States, Germany, France, China, and Belarus, are beginning to play an essential role in the region's security. They also supply arms and military equipment. Experts note that increasing defense budgets, while necessary to maintain stability, cannot solve all security-related problems, and for the foreseeable future, political instability and internal factors remain severe challenges for Central Asian countries.

4 months ago