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Introduction of digital national currency on agenda in Kyrgyzstan - KNB

Kyrgyzstan Materials 21 April 2022 10:28 (UTC +04:00)
Introduction of digital national currency on agenda in Kyrgyzstan - KNB

BAKU, Azerbaijan, April 21. Introduction of the digital national currency - som is on the agenda in Kyrgyzstan, Trend reports citing Kyrgyz National Bank (KNB).

The topic was discussed during the round table on the digital som draft conception held at the National Bank on April 19.

The round table was chaired by NBKR Deputy Chairman Zair Chokoev and was attended by representatives from the Ministry of Economy and Commerce, the Ministry of Finance, the Ministry of Digital Development, the State Committee for National Security, and the Financial Market Regulation and Supervision Service under the IEC, the financial regulator said.

The main stages of the Digital Som Concept project approach to the introduction of digital som in Kyrgyzstan, the advantages of digital som and the disadvantages associated with it, and the possible impact of digital som on the country's public finance system and financial market were discussed during the discussion.

The topics of ensuring the protection of the rights of financial service users and recipients of state budgetary funds and contributors to Kyrgyzstan's budget were also considered.

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