Published
09/16/2026, 16:55Restrictions on access to international payments have consequences not only for the banking sector, but also for the economy as a whole. This was stated by Paul Thomas, a member of the Board of Directors of the Global Alliance for Banking on Values (GABV) and representative for the Asia-Pacific region.
According to him, international payments, remittances, correspondent banking relationships and trade finance are often viewed as technical matters, although in fact they create the conditions for economic activity.
“They enable migrant workers to support their families, small and medium-sized enterprises to participate in international trade, and communities to be connected to global markets,” Mr Thomas noted.
He emphasised that access to payment infrastructure is particularly important for entrepreneurs, farmers, women entrepreneurs and other groups who may have limited access to financial opportunities. He said that payment systems for these groups must be accessible, affordable and reliable.
Thomas also noted that geopolitical shifts are altering the structure of international financial flows, and that Central Asia is becoming an increasingly important link between East and West.
He said that the development of new technologies and changes in regulation are creating both new challenges and opportunities for the region.
