BISHKEK, Kyrgyzstan, October 28. President of Kyrgyzstan Sadyr Japarov participated in the official opening ceremony of the new building of the National Bank of Kyrgyzstan in Bishkek, Trend reports.
The construction of the new headquarters had been stalled for nearly 30 years. Work resumed in 2023 following President Japarov’s inspection of the unfinished project.
Addressing the guests, the president emphasized that the inauguration marks a new chapter in the country’s financial history. He highlighted the National Bank’s role as a key symbol of statehood and recalled the introduction of the national currency, the som, on May 10, 1993, as a milestone in establishing economic sovereignty.
“Maintaining the stability of the som is the National Bank’s main task. This mission directly affects every citizen and every family. Public trust in the som reflects the strength of the state,” Japarov said.
The president noted that over its history, the National Bank has successfully navigated inflation, financial crises, the pandemic, and global economic shocks. Today, the som is recognized as one of the most stable currencies in Central Asia, a testament to the dedication of the bank’s professionals and veterans.
Japarov also stressed the importance of embracing technological change in the financial sector. Digital banking, online payments, fintech innovations, and cryptocurrencies are now integral to modern life. He instructed the National Bank to accelerate its work on innovation and digitalization, including the implementation of the “Digital Som” project.
The President further announced that the bank has now acquired the largest gold vault in the country, meeting international standards and capable of holding up to 1,000 tons of gold. This will allow Kyrgyzstan to securely store its reserves domestically and offer storage services to foreign partners.
“State strength is measured not only by gold reserves and natural resources but by public trust, the rule of law, and the ability to ensure a dignified life for citizens. The National Bank must safeguard these values,” he said.