The draft resolution of the Government of Kyrgyzstan on approval of the State Program to increase the share of non-cash payments and settlements for 2018-2022 was submitted for public discussion.
It is reported that this is the third stage. Within the framework of the first, the banking and payment system had been modernized during 2002-2008.
During the second stage (2012-2017), the projects «Pensioner card», «Budget recipient card», «Social payments to bank cards», payment of tax (customs) duties, fines and other state payments to the budget in non-cash form had been implemented.
For example, all employees of budget institutions (except for remote regions of the republic) receive a salary on bank payment cards. In 2012, only 58 percent of state employees received money on cards.
«However, the level of non-cash payments in the total money turnover is much lower than in developed countries, where this figure reaches 80-90 percent. This remains one of the important tasks and problems that the state bodies, commercial banks, payment system operators and the business community face,» the National Bank noted.
«The further increase in the share of non-cash payments helps to reduce transaction costs, the cost of production and storage of cash, increases the collection of taxes, reduces the level of corruption and the share of the shadow sector in the economy, accelerates the circulation of money,» the background statement says.
