President Sooronbai Zheenbekov receives Chairman of the National Bank Tolkunbek Abdygulov

President of the Kyrgyz Republic Sooronbai Zheenbekov on May 10, 2020 received the Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov.

They discussed measures to ensure the stability and security of the banking and payment systems, a stable macroeconomic situation in the context of the impact of the coronavirus infection on the world economy.

The head of state noted the importance of maintaining the stability of the financial and banking system, the purchasing power of the national currency, and macroeconomic stability in the country.

He drew attention to the importance of minimizing risks for the national economy in the situation taking shape in international financial markets and economies of countries in connection with the spread of coronavirus infection.

He emphasized the need to support economic sectors, business entities, and the population, which were negatively affected by the consequences of the spread of coronavirus infection.

Also, President Sooronbai Zheenbekov drew attention to the importance of intensifying the work on digitalization of banking services, the introduction of a remote identification system that allows transferring customer service to digital platforms as much as possible and increasing their convenience in receiving services.

The Chairman of the National Bank, Tolkunbek Abdygulov, noted that in an emergency and state of emergency, the banking and payment systems continue to smoothly carry out payment, transfer operations and timely meet the needs of the economy and the population in banking services and cash.

Payments and settlements are also carried out using digital financial services provided by commercial banks on a remote basis and through banking equipment installed in all regions of the country: 1744 ATMs, 11260 POS-terminals and 1927 payment terminals.

In addition, Tolkunbek Abdygulov spoke about the measures taken by the National Bank to mitigate the negative economic consequences of the spread of coronavirus infection, as well as support for business entities and the public.

It is noted that, along other measures, the National Bank recommended financial and credit organizations to grant borrowers a deferral of loan payments for a period of at least three months and for bade imposing fines and penalties for late payments on loans, charging and charging fees when revision loan agreement terms.

According to the Chairman of the National Bank, commercial banks have restructured 90.151 loans totaling 58.1 billion KGS as part of the provision of concessions to borrowers.

President Sooronbai Zheenbekov noted the need to strengthen control over the process of restructuring loans by commercial banks, taking into account the individual approach to each client.