The National Bank of Kyrgyzstan, in collaboration with the International Finance Corporation (IFC), organized a roundtable on December 22 dedicated to the development of digital financial technologies in the country.
Participants included representatives from the Association of Payment System Operators, the Association of Virtual Asset Market Participants, as well as commercial banks and the Union of Banks of Kyrgyzstan. Additionally, delegates from the IFC and the Swiss Embassy in the Kyrgyz Republic participated in the discussion.
During the event, participants discussed current projects and trends in digital finance, such as the development of digital payment systems and innovative solutions, as well as the financial market infrastructure. The discussion also featured research from the IFC regarding QR payments. Participants analyzed the results of implemented projects and identified existing challenges and opportunities for further fintech development, including market trends and regulatory issues concerning virtual assets.
S. Abdygaziev, a member of the Board of the National Bank, emphasized that the bank is actively working on creating a regulatory and institutional framework for the integration of modern financial technologies.
He also noted the need for close cooperation among all stakeholders: regulators, banks, fintech companies, the IT community, and academia. Abdygaziev urged participants to join efforts to develop approaches to regulation and the creation of innovative products, including the modernization of infrastructure and the implementation of new standards and technologies, as well as the development of a strategy for fintech growth in the coming years.
As a result of the roundtable, participants agreed that regular dialogue and coordination of actions among all stakeholders are crucial for creating a technologically advanced and sustainable digital financial ecosystem in the Kyrgyz Republic.
