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The National Bank of Kyrgyzstan should promote the introduction of fintech start-ups, including within special regimes. The Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov said at the International Financial Forum in Bishkek.

According to him, the state does not always keep up with trends in this area.

Therefore, the head of the Cabinet believes that the National Bank as a regulator needs to more actively introduce standards and regulations that will promote the development and adoption of new technologies in the banking sector.

«Against the background of the development of digital payment technologies, it is necessary to accelerate testing of the digital som and its putting into circulation. There is a lot of work to be done on the transition to a cashless economy and reduction of the shadow economy. Given the new global challenges, we will have to solve new tasks to develop a green, digital and creative economy. The financial market cannot develop separately from the real economy. That’s why the government provides support to the real sector through implementation of programs of concessional lending and allocation of budgetary funds. The financial market is supported through additional capitalization of state banks and the Guarantee Fund,» he said.

Source: News Agency

By kadmin