Kyrgyzstan plans to approve Strategy of development of non-banking financial market

Bishkek, Aug.30, 2019. /Kabar/. The State Service for Financial Market Regulation and Supervision submits for public discussion the draft resolution of the Government "On Approval of the Strategy of Development of the Non-Banking Financial Market of the Kyrgyz Republic for 2019-2023", which shows vision of Kyrgyzstan's financial market for these years.
The main objective of the Strategy is to ensure accelerated economic growth through the achievement of sustainable and efficient functioning of the non-banking financial market that meets the needs of the real sector of the economy in financial resources, provides quality services in a competitive environment and ensures the transformation of savings into investments.
The document reflects the current state and the main problems of the non-banking financial market sectors, strategic priorities of the non-banking financial market development, possible risks and threats in the implementation of the Strategy and measures to prevent them.
Achieving the goals and objectives set out in the Strategy in the medium term will make it possible to increase the importance and impact of the non-banking financial system on the country's economic growth and create incentives and conditions for improving the standard of living and quality of life of Kyrgyz citizens.