Representatives from the National Bank of the Republic of Kyrgyzstan (NBKy) and the Asian Development Bank (ADB) met Friday to discuss possibilities of collaboration.
A major topic for cooperation was the development of microfinance in Kyrgyzstan and Islamic principles in terms of banking and finance as well as the development of mobile banking services.
The National Bank was represented by Nurbek Zhenish and Lada Orozbaev. The ADB delegation was headed by Pryankoy Court, the bank's financial sector development director for central and west Asia.
Both sides agreed on provisions for the bank to assist in training national bank staff in dealing with risk-based micro-finance institution supervision and means to prevent funding or laundering money for criminal and terrorist organizations and activity.
The ADB reported in January that it will provide $22 million in order to improve the educational system in the Kyrgyz Republic, and that it will maintain a partnership strategy aiming to improve the quality of living standards with increased economic prosperity.