Nasirov highlighted several key areas where the contribution of the private sector is evident. First of all, it is worth noting the development of technological platforms that facilitate cross-border operations, such as payments, trade financing, digital identification, KYC procedures, and credit assessment for small and medium-sized enterprises.
Additionally, he mentioned that in recent years there has been an active implementation of artificial intelligence-based solutions, including chatbots, automated platforms, and digital services, which contribute to the acceleration of fintech development and improve the accessibility of services.
The second important area is the collaboration between businesses, banks, and large technology companies to implement joint projects.
Nasirov also emphasized the importance of regulatory and legislative "sandboxes" that allow for testing innovative solutions and accelerate the integration of national financial systems into regional and global ecosystems. He added that joint projects are already being carried out between participants in the financial markets of Uzbekistan and Kazakhstan.
The third area is the active participation of the private sector in harmonizing standards and legislation. According to Nasirov, businesses are interacting with regulators on issues of cybersecurity, the use of biometrics, the implementation of artificial intelligence, and the protection of personal data.
“To create a unified financial ecosystem in Central Asia, it is necessary to develop joint solutions to key challenges and combine the best practices of the region,” he concluded.
