Nasirov highlighted several key areas where private sector activity is evident. First of all, he noted the creation of technological platforms for transactions between countries, covering areas such as payments, trade financing, digital identification, KYC procedures, and credit assessment for small and medium-sized enterprises.
According to him, in recent years there has been active implementation of technologies based on artificial intelligence. This includes chatbots, automated platforms, and other digital services, which contribute to the acceleration of financial technology development and improve service accessibility.
Moreover, Nasirov pointed out the importance of cooperation between businesses, banks, and large technology companies for the implementation of joint projects.
He also emphasized that regulatory "sandboxes" play a critically important role, allowing for the testing of innovations and facilitating the integration of national financial systems into broader regional and global ecosystems. He mentioned that joint projects between financial participants from Uzbekistan and Kazakhstan have already been launched.
The third important direction he identified is the active participation of the private sector in the unification of standards and legislation. Nasirov noted that businesses are interacting with regulators on issues of cybersecurity, the application of biometric technologies, the implementation of artificial intelligence, and the protection of personal data.
“Creating a unified financial ecosystem in Central Asia requires the development of joint solutions to overcome key challenges and to consolidate the best practices of the region,” he concluded.
