A seminar on “Payment systems and prospects of development of retail payments” was held in the National Bank
This event was aimed at enhancing the knowledge of representatives of the National Bank and the financial institutions of the Kyrgyz Republic in the field of payment systems and the development of innovative forms of payments on the payment services market.
Within the 4-day seminar for the staff of regulator, of commercial banks, microfinance institutions and CJSC “Interbank Processing Center”, the representatives of consulting company “Bankable Frontier Associates Consulting” - Brian Le Sar and Johann Bezuidenhoudt told about new ways of payment system development, implementation and the use of advanced technologies, taking into account the practices of foreign countries.
Particular emphasis was placed on topics such as the regulation of the legal framework in the field of payment systems and interoperability (interoperability) of systems, principles of clearing payments and settlement, the development of mobile banking and mobile money operators audit and electronic money issue.
Seminar participants showed an active interest in the development of innovative forms of payments through mobile, electronic money and other relevant topics, ask questions, share their views and shared their impressions.
Thus, according to the Head of analysis and development of payment systems Division of the Payment Systems Department of the NBKR Mr. Aibek Sultanaliev, seminar was very interesting and helpful, allowed to cover a wide range of issues and problems in the formation and development of the national payment system, implementation and management of innovative instruments and technologies. “Along with the high quality of presentations and handouts, I would like to mention a very thoughtful and informative practical part of the workshop and work with cases. On behalf of my colleagues and myself I express my gratitude to the organizers of the event, the “Bankable Frontier Associates Consulting” company’s consultants for an interesting seminar and an opportunity to improve knowledge and professional level in the field of payment systems” – he concluded.
“Engaging to the seminar of international experts as the National Institute on payment systems was very informative and useful practice. Currently, there is a growing demand of the population in the country for advanced technologies that allow the population to realize instant payments and remotely manage their funds while significantly reducing time and maintenance costs. In this regard, the study of international experience on mobile payments, implementation of innovations will allow Kyrgyzstan to prioritize and quickly implement new technologies. For our company, which has an extensive branch network, the introduction of new instruments will improve the penetration of financial services in remote regions of the country”, - the representative of company “Finca” Ms. Asseta Krasnozhonova said.
In turn, the chief specialist of the Group of operators and payment organizations of the Payment Systems Department of the National Bank Mr. Anton Bredikhin noted that the topics raised by the lecturers are most relevant to the National Bank in connection with the acquisition of new functions to regulate the operators of payment systems and the development of legal and regulatory framework for issuance of electronic money. “The consultants showed a high level of proficiency in the subject. Acquired knowledge will be very useful in my work and will undoubtedly find further practical application”, - he told.
30 people trained during the workshop. The event was organized by the National Bank of the Kyrgyz Republic with technical assistance of the European Bank for Reconstruction and Development.
