The Chairman of the Cabinet of Ministers of Kyrgyzstan held a meeting with representatives of the country’s banking sector. They discussed topical issues of economic development and pressing problems of the sector. Press service of the Cabinet reported.
Akylbek Japarov called on bankers to work together with the state to attract investments from foreign and domestic markets to improve the welfare of the country’s citizens, and also noted the importance of introducing advanced high technologies into the banking sector. He also recalled that work is underway to improve the administration of tax revenues. The introduction of digital technologies is one of the main tools for reforming the Tax Service.
The official drew the attention of management of the banking sector to the fact that digitalization of tax administration and banking services need close interaction, and called on banks to take an active position in this direction and assist in the reform of fiscal structures.
Akylbek Japarov told about promising areas for the development of the domestic banking sector. For example, the possibility of granting the right to commercial banks to sell and buy gold and silver in the form of weighted bullions and coins is being considered. This will become one of the mechanisms for diversification of currency risks.
It is planned to create a consortium of banks that will mobilize resources for the implementation of various projects, such as the construction of small hydropower plants.
In addition, it is planned to enter the Eurobond market. Commercial banks of Kyrgyzstan will have the opportunity to place their securities on international stock exchanges.
The heads of state bodies and the banking sector, who participated in the meeting, made proposals and recommendations on the development and implementation of measures necessary to increase the efficiency of the national economy and improve the quality of customer service.
