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18 October 2022, 10:43

National Bank: Belarus' financial sector operates steadily despite challenges

An archive photo
An archive photo

MINSK, 18 October (BelTA) – Belarus' financial sector has proved to be resilient to the challenges, Deputy Chairman of the Board of the National Bank of the Republic of Belarus Dmitry Kalechits said at the international forum on information technologies in banking industry BankIT 2022, BelTA has learned.

“Our economy and the financial sector operate in an increasingly unfavorable environment that took a further turn for the worse this year. In this uneasy setting, amidst all the challenges, the financial sector ensures continuous, uninterrupted and reliable provision of financial services and keeps operating steadily,” Dmitry Kalechits said.

He noted that all payment systems, including in the retail sector, remain available. According to him, the banking sector consistently maintains the availability of its systems close to 100%.

An urgent issue is how to overcome the consequences of the sanctions in the field of information technologies and information security in the banking sector, and to maintain the functioning of information systems in the banking sector. “In order to consolidate the efforts of the banking community in this area, specialized committees have been put together under the Association of Belarusian Banks. We see significant potential here,” the deputy chairman of the Board of the National Bank emphasized.

“We plan to continue cooperation with the Digital Business Confederation on updated areas of digital development. Our meaningful, systemic and consistent joint work is expected to help us withstand current and new challenges, lay the foundations for the further transformation of our payment market and the financial sector,” Dmitry Kalechits added.

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