According to the Ministry of Finance, the strategy aims to ensure that all citizens, as well as small and medium-sized enterprises, can actively benefit from affordable, high-quality and safe financial services, contributing to a sustainable and prosperous society, as well as reducing economic and social inequalities.
One of the key priorities of the strategy will be the development of the payments system.
In particular, the authorities plan to:
- modernize the payment infrastructure;
- expand access to digital financial services, especially in regions with a low level of digitalization;
- remove barriers to the use of electronic and non-cash payments.
In parallel, the Ministry of Finance is developing a draft law on amendments to the Law on Cash Settlements. The amendments will take into account international practices, as well as comments and suggestions of stakeholders identified in the course of application of the current legislation.
It is expected that the updated legal mechanism will make the regulation of cash circulation more efficient and accelerate the transition to non-cash settlements in the country’s economy.
