Current Trends in the Development of the Financial and Credit System in the Context of Digitalization

The research discusses issues regarding the current state of the financial and credit system of Kyrgyzstan, as well as digitalization trends in this area, which determines the goals, directions, and principles of further development. Digitalization carries characteristic difficulties due to the different levels of development of the structural elements of the financial and credit system. Practical analysis of the financial and credit system shows the strengths and weaknesses of this system, its structural elements, possible threats, and further promising development, considering digitalization. The research aims to reveal the features of the development of the financial and credit system of Kyrgyzstan and study its further development in the context of digitalization. During the research, the authors applied analysis and statistical data processing. The main results of the research include the finding that the financial and credit system is the basis of the entire economy and a promising development direction, which must continuously introduce innovations, meeting the contemporary requirements of digitalization and the new realities of the global financial and credit system. The research value is that it, for the first time, attempts to generalize the development of the financial and credit system. This work can be used as a methodological and educational guide for further research of national financial and credit system and the development of regulatory documents in the field of the development of financial and credit system.