Bishkek, Nov. 10, 2026 /Kabar/. Kyrgyzstan has emerged as a leader in Central Asia and globally, in the development of QR-based payments. However, the rapid growth of digital technologies has brought about a new challenge: large-scale cyberattacks. Anvar Abdraev, President of the Union of Banks of Kyrgyzstan told during a broadcast on Birinchi Radio, speaking on the sidelines of the "FinConference 2026: Cybersecurity, Anti-Fraud, and Artificial Intelligence."
"Not long ago, our domestic financial market was frequently criticized for lagging behind its neighbors, including Kazakhstan in terms of technology. Today, the situation has shifted: the ELQR system has established itself at the forefront, not only within Central Asia but on a global scale," he said.
According to the head of the Union of Banks of Kyrgyzstan, a downside to this digitalization is the threat to the security of the funds that citizens entrust to banks.
"I am convinced that we need to join forces, not just within the country, but also at the regional and broader levels to effectively prevent fraudulent activities," Anvar Abdraev noted.
