Here is the converted article in Markdown format:
Kyrgyzstan Takes Steps to Protect Whistleblowers in Financial Institutions
In a move to promote transparency and combat economic crime, the government of Kyrgyzstan has taken steps to strengthen whistleblower protection in the country’s financial institutions. This initiative is part of the Central Asia Rule of Law Programme 2020-2023, a joint project co-funded by the European Union and the Council of Europe.
Programme Objectives
The programme aims to improve the business climate in the region by enhancing transparency, integrity, and anti-corruption measures. Specifically, it focuses on:
- Improving mechanisms for preventing and tackling corruption, money laundering, and economic crime
- Enhancing national systems to combat these issues
- Strengthening capacities to fight and prevent economic crime in five Central Asian countries (Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan)
Webinar on Whistleblower Protection
A webinar was held on December 3, 2020, to discuss the framework for whistleblower protection in Kyrgyzstan’s financial sector. The event brought together authorities from various government agencies, including:
- Public Prosecutor’s Office
- Business Ombudsman’s Office
- National business associations
Experts from the Council of Europe provided an overview of international standards on whistleblower protection, highlighting best practices and recommending improvements to the existing legislation.
Challenges Faced by Whistleblowers
The webinar also focused on addressing challenges faced by whistleblowers in Kyrgyzstan, including:
- Lack of effective reporting channels
- Retaliation mechanisms
- Negative public perception of whistleblowing
Key Issues Identified
Authorities participating in the webinar identified several key issues that need to be addressed, including:
- The need for more effective compensation for losses and damages resulting from whistleblowing
- Broader coverage of private sector employees and businesses under the law
- Clearer protection for whistleblowers
Next Steps
The event created a platform for further cooperation and collaboration between stakeholders to improve whistleblower protection in Kyrgyzstan’s financial institutions. The recommendations and best practices discussed during the webinar are expected to contribute to improving whistleblower protection in the country.
About the Central Asia Rule of Law Programme
The Central Asia Rule of Law Programme 2020-2023 is a comprehensive initiative aimed at strengthening capacities to fight and prevent economic crime in five Central Asian countries. The programme focuses on improving mechanisms and capacities for preventing and tackling corruption, money laundering, and economic crime, as well as enhancing national systems to combat these issues.
By promoting transparency and accountability in Kyrgyzstan’s financial sector, the government is taking a significant step forward in combating economic crime and protecting whistleblowers.