Bishkek, Sept. 28, 2018. /Kabar/. A meeting of experts of national/central banks of Belarus, Kazakhstan, Kyrgyzstan and Russia was held in Bishkek from 26 to 27 September, the press service of the National Bank of the Kyrgyz Republic reported.
The topic of the discussion was the cooperation on the implementation of the international standard ISO 20022 - Financial services. Universal financial industry message scheme, as well as the development of an action plan for its implementation.
"Transition to this standard will allow market participants to reduce costs through unified models for the exchange of financial messages for in-country and cross-border payments, as well as provide an opportunity for financial market participants to connect to new solutions implemented on the basis of ISO 20022," the agency reported.
It is noted that the work on the introduction of the ISO 20022 standard at the national level presupposes the involvement of commercial banks of Kyrgyzstan, participants of the financial market and government agencies.
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