The National Bank of the Kyrgyz Republic’s chairman, Melis Turgunbaev, spoke at the XIII Congress of Financiers of Kazakhstan, joining other central bank heads from Eurasian Economic Union member states on a panel on financial system development amid economic turbulence and digital transformation. His remarks covered the central bank’s monetary policy stance, payment system development, and prospects for introducing the digital som. He noted that economic activity in the Kyrgyz Republic continues to grow at a persistently high pace, which is accompanied by ongoing inflationary pressure, and that the central bank is therefore maintaining relatively tight monetary conditions to support medium-term price stability. On digital transformation, he outlined the main stages of work on implementing the digital som and highlighted its potential to reduce costs, shorten settlement times, and increase the transparency of financial transactions.
National Bank of the Kyrgyz Republic 2025-11-14
National Bank of the Kyrgyz Republic chair outlines tight monetary conditions and digital som implementation work at Kazakhstan financiers’ congress
The National Bank of the Kyrgyz Republic's chairman, Melis Turgunbaev, addressed the XIII Congress of Financiers of Kazakhstan, discussing monetary policy, payment system development, and the digital som. He emphasized maintaining tight monetary conditions due to high economic activity and inflationary pressure. Turgunbaev outlined the digital som's potential benefits, including cost reduction, faster settlements, and enhanced transaction transparency.