National Bank: financial sector working steadily despite challenges

Despite the challenges, the financial sector of the country is performing steadily – as noted by Dmitry Kalechits, the Deputy Chairman of the Board of the National Bank of Belarus during the BANKIT-2022 International Forum on Banking Information Technologies, BelTA reports

“The conditions in which our economy and the financial sector operate are constantly becoming more and more difficult, especially this year. In this difficult environment, despite all the challenges, the financial sector ensures the continuous, uninterrupted and reliable provision of financial services, and its stable operation is also maintained,” Dmitry Kalechits noted.

He added that the continuity of the functioning of all payment systems, including retail ones, is ensured. According to him, the country’s banking sector consistently maintains the availability of its systems close to 100 percent.

An urgent issue is measures to overcome the consequences of sanctions restrictions in the field of banking information technologies and information security, maintaining the continuity of the functioning of information systems in the banking sector. “In order to consolidate the efforts of the banking community in this area, specialised committees have been established under the Association of Belarusian Banks. We see significant potential here,” the Deputy Chairman of the National Bank’s Board emphasised.

“We plan to continue interaction with the Digital Business Confederation on updated areas of digital development. Our meaningful, systematic and consistent joint work should enable us to withstand current and new challenges while laying the fundamental foundations for the further transformation of our payment market and the financial sector,” Mr. Kalechits added.