NEWS AND EVENTS
November 27, 2015
PROGRAM FOR FURTHER REFORMING THE BANKING SYSTEM OF UZBEKISTAN FOR 2016-2020 PLANNED TO BE WORKED OUT
It is planned to work out and implement in Uzbekistan the Program for further reforming of the banking system for 2016-2020. Deputy Chairman of the Central Bank of the Republic of Uzbekistan Ahadbek Khaydarov explained that in his speech at the IV Tashkent International Banking Forum held in Tashkent.
The program of further reforming the banking system for 2016-2020 will provide:
- further increase in the efficiency of the banks and the level of financial intermediation in the economy;
- strengthening of financial stability and liquidity of banks in accordance with international standards, improvement of the quality of bank assets and loan portfolio, further development of the evaluation system of bank risks;
- expansion of the range and quality of banking services with the widespread implementation of modern information and communication technologies;
- development of private banks and reduction of the state share in the capital of banks;
- further improvement of the legal framework of banking activity;
- further implementation of measures to improve the financial literacy of the population, and others.
It is expected that realization of the new program for further reforming the banking system coupled with current favorable macroeconomic environment will contribute to the high rates of economic growth, dynamic development and strengthening of the financial stability of the banking system of the republic.