BFC Bulletins Monthly News Digest
Tags Digital Transformation Payments
The conclusions of a World Bank report on the development of digital technologies in Central Asia are disappointing. Experts found that expensive and difficult access to the internet has become a barrier to the development of business in the region. In Tajikistan, it was found that only 17% of the population had stable access to the internet. Moreover, most companies and firms in the region, if they use internet, only use it for simple operations such as e-mail. Furthermore, not all companies have their own websites, and many of those who engage in e-commerce use online intermediaries rather than opening their own online stores.
This problem is also connected with the low level of development of the financial sector in the region. People simply do not use digital payment systems, often citing that the financial system as a whole is untrustworthy. There is also a general attitude in the region that the internet is not really a tool for economic prosperity and transparency, but rather is a channel for the penetration of extremism.
Experts of the World Bank note that the longer these states postpone the Digitalization of the economy, the longer their residents will have to wait for the opportunity to take advantage of digital dividends.
