A round table on the topic “Digital transformation of the financial sector in Kyrgyzstan: prospects, problems, solutions” was held in Bishkek, organized by the National Bank in cooperation with the International Finance Corporation (IFC), the press service of the National Bank said, Trend reports citing Kabar.
The round table was held with the participation of representatives of the National Bank of the Kyrgyz Republic, the International Finance Corporation (IFC), international organizations, government agencies, the business community, the Union of Banks of Kyrgyzstan, commercial banks, the Association of Payment System Operators, the Association of Cellular Operators, the Association of Electronic Commerce and others.
Welcoming the participants of the round table, Chairman of the National Bank Bokontaev noted that the introduction of digital technologies and their effective use is possible only with the interaction of all interested parties, including the exchange of information between government bodies and the business community.
He spoke about the measures taken by the National Bank in the development of financial technologies, and assured that in the future the central bank of the country also intends to pursue a policy of development of the banking system, taking into account the main directions of development of digital banking technologies.
“I hope that the financial sector will continue to develop and implement innovative technologies, expanding access to financial services in accordance with the needs of the population, business and modern realities, carefully analyzing the possible risks associated with the introduction of new technologies,” Bokontaev added.
During the round table, the issues of the current state of digital transformation of the financial sector of Kyrgyzstan, marketplaces and other digital products, their development trends, as well as international experience in the implementation of regulatory sandboxes and the implementation of the Open-banking concept were discussed.