Financia Sector Innovation in Central Asia

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Innovative financial technologies became the solutions to improve the efficiency of financial transactions, reducing the time and cost associated with paper-based and labor-intense processes, thus helping financial service providers to offer affordable products and services. Furthermore, the provision of financial services such as payments, credit, or insurance in the course of non-financial activities, has become the emerging solution to financial inclusion for individuals and SMEs. Companies operating in such sectors as e-commerce, e-logistics, value-chain, and ride-hailing, substantially enhance or even transform their value proposition by adding financial services to their product suite. The overall objective of this IFC Project is to further support the financial sector development and increase access to financial services for MSMEs and the general population in Kyrgyzstan and Tajikistan through innovation and digitalization of financial services.