On October 25, 2024, a round table on open banking (API) in the Kyrgyz Republic was held, which was organized by the National Bank of the Kyrgyz Republic together with the International Finance Corporation (IFC). The representatives of commercial banks, payment system operators and payment organizations, as well as other stakeholders took part in the round table. 

The round table was held in the format of an open dialog. M.Sh. Attokurov, the Deputy Chairman of the National Bank of the Kyrgyz Republic, noted that the development of digital technologies was changing the banking and financial sectors at an incredible speed, and open banking is one of the most significant steps on this path. Implementation of open APIs and standardization of interaction between banks and payment organizations open new opportunities to improve the quality of service, increase the availability of financial services and create new products for customers.  

Within the framework of the dialog the prospects and the approaches to the implementation of open banking (API) were discussed, special attention was paid to the international experience of open API successful implementation, the possibility of integrating various financial services, innovations and security issues in the exchange of financial data. 

According to the results of the discussion, the participants of the table came to the conclusion that it was necessary to standardize the interaction between banks, payment system operators and payment organizations on the exchange of financial data in compliance with the rules of information security, as well as to provide for the requirements to information aggregators.