Prime Minister Ulukbek Maripov: Serious reforms are needed to digitalize the banking system

Meeting in the Government of the Kyrgyz Republic.

On April 28, Prime Minister of the Kyrgyz Republic Ulukbek Maripov met with representatives of the banking sector, where he discussed the upcoming digitalization of the banking system.

“Meetings of this format have become a good tradition. Earlier, meetings were held with representatives of the business community, the IT sector, the construction and clothing industries, where problematic issues were voiced, on which active work is already underway. I hope that today’s meeting will also be productive and constructive, “said Ulukbek Maripov.

The Prime Minister stressed that the stringent restrictive measures taken by various governments of different countries to counter the spread of coronavirus infection have led to a decrease in economic activity around the world, including in the Kyrgyz Republic.

“It is necessary to unite our efforts to eliminate the negative consequences of the pandemic, COVID-19 maintain the stability of the financial and banking system. As part of the implementation of the Decrees of the President of the Kyrgyz Republic, in order to improve services for the population, serious reforms are necessary to digitalize the banking system, “said Ulukbek Maripov.

Representatives of the banking sector identified bureaucratic wires as the main barrier to digitalization of the banking system in working with state bodies, the absence of a single interacting state body, and also made a number of comments on the work of the “Tunduk” State Enterprise.

“As part of the digitalization of the banking system, we interact with more than 10 government agencies, however, due to the lack of coordination of actions, the process of obtaining certain certificates is delayed, this creates some inconvenience. It is proposed to create a single body that would become a connecting information link between banking institutions and the state apparatus, “said Anvar Abdraev, president of the Union of Banks of Kyrgyzstan.

The Prime Minister noted that this issue is being considered, adding that in the near future the powers of the State Digital Development Service will be strengthened, where all electronic interaction systems will be concentrated, including the “Tunduk” automated system, the approaches to the work of which will be completely revised, and the project implementation process will be brought to a high level.

As part of the digitalization of the banking system, proposals have been made to introduce electronic work books into the system of labor relations in the Kyrgyz Republic, which will ensure continuous and convenient access of employees to information about their work activities, and employers will open up new opportunities for personnel registration.

The meeting also discussed measures to ensure the sustainability and security of banking and payment systems, macroeconomic stability in the country in the context of the pandemic of coronavirus infection, expertise and assessment, speedy settlement of remote labor of various categories of workers during the pandemic of coronavirus infection, as well as amendments to the relevant regulations governing the banking sector.

Following a detailed discussion of these issues, the Head of Government instructed the relevant state bodies, together with representatives of the banking sector, to develop a concept for the introduction of electronic work books and submit to the Government of the Kyrgyz Republic for consideration, as well as promptly send to the Jogorku Kenesh of the Kyrgyz Republic a draft law on the settlement of remote work during the pandemic of coronavirus infection.