Through its subsidiary in the Kyrgyz Republic, Tiner Wernow, formerly John Tiner & Partners creates and arranges the issuance of securities and other investment instruments for professional clients. For over 25 years the firm has been a leader in creating financial instruments, including globally tradable securities – through its headquarters in Switzerland and a network in other countries.

The Kyrgyz Republic is a unique country with an open economy, no currency barriers, and extremely flexible financial markets legislation. Since 2006, Tiner Wernow has been assisting in the development of the country’s securities market legislation, serving as a consultant to various governmental and official organizations, as well as key national stock market infrastructure institutions.

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Available instruments

Securities

• Stocks, SPAC equity
• Bonds, asset-backed bonds
• Investment funds
• Islamic Leasing Certificates (Sukuk)
• Islamic Asset Financing Certificates (Sukuk)
• Islamic Investment Management Certificates (Sukuk)
• Islamic Investment Agency Certificates (Sukuk)
• Islamic Partnership Certificates (Sukuk).

Derivative financial products

• Forwards (exchange-traded / OTC)
• Options (exchange-traded / OTC)
• Futures
• Complex derivatives
• Structures products
• Foreign exchange products
• Tracker instruments on foreign financial products.

Scenarios

• Asset / project financing in Kyrgyzstan & globally
• Financing of working trade capital
• Asset management (funds, portfolio strategies)
• Raising investment from Shariah-compliant funds and family offices
• Packaging assets into Shariah-compliant securities

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Underlying assets

Review the current list of underlying assets for our derivative / structured financial products:

• synthetic derivative contracts (e.g., settlement-only forward contracts), traded on a stock exchange or OTC in the Kyrgyz Republic, fully backed by the underlying instrument
• depositary securities – depositary receipts, depositary notes, fully backed by the underlying instrument
• financial instruments being ‘securities’ under the law of issuing jurisdiction (ISIN allocated), but being blockchain tokens in form (security tokens), fully backed by the underlying instrument
• structured products / notes, enabling the investor to assume market risk/potential reward from price movement of the underlying instrument