Bishkek, Oct.3, 2019. /Kabar/. Wednesday, Oct. 2 President of Kyrgyzstan Sooronbay Jeenbekov received Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov.
Activities on the conducted monetary policy, the current situation in the banking and payment systems, as well as other measures taken to ensure price and financial stability in the country were discussed, the press service of the President reported.
President Jeenbekov noted the importance of stable and reliable work of financial and credit institutions of the country, which should effectively mobilize financial resources in the interests of entrepreneurs and citizens to promote long-term economic development of Kyrgyzstan.
At the same time, he drew attention to the importance of introduction of digital technologies and automation of processes in the system of the National Bank, and the need to further take measures to increase the level of penetration of new banking and payment services in the country and improve financial literacy of the population.
Chairman Abdygulov noted price stability is ensured in Kyrgyzstan, in August 2019 inflation in annual terms was 2%. He added that the monetary policy of the National Bank was aimed at stimulating business activity in the economy: the discount rate was reduced (4.25%) and credit operations continued.
The head of state was also briefed on the measures taken to create favourable conditions for the development and support of small business and the expansion of lending, as well as on the work carried out within the framework of digitization of banking services, increasing the availability of financial services in the regions of the country.
In 2019, the National Bank held 27 credit auctions with a total supply of KGS 36 billion. Most of them - 27 billion - were offered within the framework of credit auctions for the purposes of regional development.
Tolkunbek Abdygulov concluded that the payment system in the country is developing steadily. Pilot projects on development of mobile banking services, modern forms of cashless settlements and provision of banking services in remote regions of the country are being implemented. The number of Elkart cards increased by 27.3 % compared to the same period last year.
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