Kyrgyzstan has become the second country in the world to introduce contract banking

At the plenary session of the VII Kyrgyz-Russian Economic Forum in Issyk-Kul, First Vice President of Gazprombank Oleg Melnikov noted that Kyrgyzstan is the second country in the world after Russia to successfully apply contract banking technology.

According to him, the digitisation of data obtained through this system significantly increases its efficiency. Kyrgyzstan's positive experience has already attracted the interest of government agencies in other EAEU countries, which in the future will allow for the harmonisation of legislation in the field of public procurement within the union.

Last year, the BSK company was established, which, together with four Kyrgyz banks, provides contract support within the framework of public procurement.

‘We will continue to work to increase digitalisation and further develop the technology,’ Melnikov emphasised.