The amount of cash held by the population is estimated at 200–300 billion soms. Marat Pirnazarov, Chairman of the Financial Market Regulation and Supervision Service, said today at a press conference at the Kyrgyz Stock Exchange.
According to him, this is a large sum and a worrying trend amid ongoing inflationary processes.
«Our task is to convey to the public that this money should be transformed into investments in the real sectors of the economy, rather than being kept under mattresses. If we want to become a regional hub, we should create an investor-friendly environment. For example, the Freedom Group has proposed developing its presence in Kyrgyzstan and allowing them remote identification. In today’s world, no one will fly to our country just to open a brokerage office here,» Marat Pirnazarov said.
He also spoke about the implementation of key projects, including the establishment of a national depository, which is expected to increase transparency and reduce risks in the financial market. In addition, he noted that relevant legislation is being amended to support the development of the virtual assets sector.
