ISSN:
2181-3906
2025
In e na ional scien i ic jou nal
«MODERN SCIENCE АND RESEARCH»
VOLUME 4 / ISSUE 11 / UIF:8.2 / MODERNSCIENCE.UZ
185
WAYS TO IMPROVE THE BANKING SYSTEM OF UZBEKISTAN
Ziyadullaye a Mohi a Tagaye na
assis an eache o he Sama kand ins i u e o economics and se ice
Ku ashe a Sumbula Maxsudo na
a s uden o he Sama kand Ins i u e o Economics and Se ice, G oup 324, The Wo ld Economy
and In e na ional Economic Rela ions.
h ps://doi.o g/ 10.5281/zenodo.17535796
Abs ac . This wo k s udies ways o imp o e he banking sys em in he Republic o
Uzbekis an, exis ing p oblems and p oposals o hei solu ion. The wo k analyzes he cu en
s a e o he banking sys em o Uzbekis an, conside s such u gen issues as inc easing he
e iciency o comme cial banks, in oducing digi al echnologies, imp o ing he quali y o
inancial se ices and inc easing he inancial li e acy o he popula ion. Also, based on he
expe ience o o eign coun ies, p oposals and ecommenda ions o he u he de elopmen o
he banking sec o ha e been de eloped. Based on he esul s o he esea ch, p ac ical
p oposals ha e been pu o wa d aimed a o ming a s able and compe i i e banking sys em in
Uzbekis an.
Keywo ds: banking sys em, inancial s abili y, digi al banking se ices, comme cial
banks, e o ms, Uzbekis an, inancial li e acy.
ПУТИ СОВЕРШЕНСТВОВАНИЯ БАНКОВСКОЙ СИСТЕМЫ
УЗБЕКИСТАНА
Аннотация. В данной работе рассматриваются пути совершенствования
банковской системы Республики Узбекистан, существующие проблемы и предложения по
их решению. В работе проведён анализ текущего состояния банковской системы
Узбекистана, рассмотрены такие актуальные вопросы, как повышение эффективности
деятельности коммерческих банков, внедрение цифровых технологий, улучшение
качества финансовых услуг и повышение финансовой грамотности населения. Также, на
основе опыта зарубежных стран, разработаны предложения и рекомендации по
дальнейшему развитию банковского сектора. По результатам исследования выдвинуты
практические предложения, направленные на формирование устойчивой и
конкурентоспособной банковской системы Узбекистана.
Ключевые слова: банковская система, финансовая устойчивость, цифровые
банковские услуги, коммерческие банки, реформы, Узбекистан, финансовая грамотность.
In oduc ion
In ecen yea s, signi ican changes ha e aken place in Uzbekis an’s banking sys em.
The economic e o ms ini ia ed by he P esiden o he Republic o Uzbekis an, Sha ka
Mi ziyoye , along wi h he libe aliza ion o he inancial sec o and in eg a ion wi h he global
inancial sys em, ha e had a majo impac on he coun y’s banking sec o . Howe e , i canno
be said ha he e a e no sho comings o p oblems wi hin he banking sys em. The e o e, his
a icle will ho oughly examine he exis ing sho comings and issues in he banking sec o .
In Uzbekis an, g ea a en ion is being paid o he banking sys em, as emphasis is placed
on e o ming and mode nizing i .
ISSN:
2181-3906
2025
In e na ional scien i ic jou nal
«MODERN SCIENCE АND RESEARCH»
VOLUME 4 / ISSUE 11 / UIF:8.2 / MODERNSCIENCE.UZ
186
On May 12, 2020, he P esiden o Uzbekis an adop ed Resolu ion No. PQ-5992, which
app o ed he S a egy o Re o ming he Banking Sys em o 2020–2025.
1
This s a egy was de eloped join ly by he Cen al Bank and he Minis y o Finance, in
coope a ion wi h he Wo ld Bank, based on an analysis o he banking sys ems o o he coun ies
and accompanied by conclusions and ecommenda ions. The s a egy pays special a en ion o
he cu en p oblems and u gen issues iden i ied wi hin he banking sys em. In pa icula , due o
he high le el o s a e pa icipa ion in he banking sec o , inancial and human esou ces a e
being used ine icien ly, and co po a e go e nance sys ems a e no p ope ly es ablished. S a e-
owned banks o en ac as adi ional "de elopmen banks" by p o iding loans a in e es a es
below ma ke le els o p io i y p og ams, sec o s, and en e p ises wi h s a e owne ship. This has
led o a sha p inc ease in lending olumes, which in u n nega i ely a ec s key indica o s o
bank s abili y such as liquidi y and capi al adequacy. Fu he mo e, a high deg ee o
globaliza ion, along wi h he concen a ion o loans and deposi s in la ge en e p ises and ce ain
sec o s o he economy, has made he banking sys em ulne able o cu ency, c edi , and
liquidi y isks. The business models o s a e-in ol ed banks a e mainly ocused on se ing
co po a e clien s, while hei ole as inancial ins i u ions is ela i ely limi ed. In addi ion, he
unde de elopmen o inno a ion and in o ma ion sys ems has esul ed in a low le el o inancial
inclusion, highligh ing he need o la ge-scale e o ms wi hin he sys em.
In ecen yea s, Uzbekis an’s banking sys em has unde gone signi ican e o ms, and he
p ocesses o in eg a ion wi h in e na ional inancial ins i u ions ha e accele a ed. Howe e , a
deepe analysis o he cu en si ua ion e eals ha he e a e s ill un esol ed p oblems and
un apped oppo uni ies wi hin he sys em. The di e si ica ion o se ices p o ided by banks
emains insu icien . Mos comme cial banks s ill mainly o e adi ional se ices such as
lending, accep ing deposi s, and p o iding se lemen and paymen ope a ions. The p ocess o
digi al ans o ma ion is p og essing slowly. A la ge pa o he popula ion, especially clien s
li ing in emo e a eas, canno ye access mode n banking se ices. To add ess his issue, banks
need o s eng hen coope a ion wi h in ech companies, c ea e inno a i e inancial p oduc s, and
widely implemen “digi al inancial li e acy” p og ams. In c edi policy, he isk assessmen
sys em is no ope a ing e ec i ely. This is especially e iden in he di icul ies aced by small
businesses and s a ups in ob aining loans. I is necessa y o in oduce mode n me hodologies o
assessing c edi wo hiness, such as a i icial in elligence-based c edi sco ing sys ems. Doing so
would no only imp o e he quali y o he c edi po olio bu also ensu e mo e e icien
alloca ion o banking esou ces. The le el o in e bank compe i ion emains low, and a i s o
many se ices con inue o be ela i ely high. To s eng hen he compe i i e en i onmen , i is
impo an o c ea e mo e a o able condi ions o o eign in es o s and inc ease he sha e o he
p i a e sec o in he banking indus y. Enhancing he a ac i eness o Uzbekis an’s ma ke o
in e na ional banks would help in oduce inno a i e inancial echnologies and mode n
managemen p ac ices. The le el o in eg a ion be ween he banking sys em and he eal sec o
o he economy also emains low. Banks end o ocus on sho - e m inancing, which limi s he
implemen a ion o la ge-scale in es men p ojec s.
1
h ps://lex.uz/en/docs/6972970?ONDATE=13.05.2020
ISSN:
2181-3906
2025
In e na ional scien i ic jou nal
«MODERN SCIENCE АND RESEARCH»
VOLUME 4 / ISSUE 11 / UIF:8.2 / MODERNSCIENCE.UZ
187
The e o e, i is necessa y o o m a long- e m esou ce base by a ac ing pension unds,
insu ance companies, and o he ins i u ional in es o s o he banking sec o . In addi ion, i is
essen ial o pu sue a mo e ac i e policy aimed a inc easing inancial inclusion— ha is, ensu ing
access o banking se ices o all segmen s o he popula ion. Acco ding o s a is ical da a, he
sha e o people wi hou bank accoun s is s ill signi ican ly high. This, in u n, con ibu es o he
pe sis ence o a la ge in o mal economy.
Conclusions and sugges ions
In conclusion, imp o ing Uzbekis an’s banking sys em is a c ucial ac o in ensu ing
sus ainable economic g ow h and c ea ing a compe i i e inancial en i onmen ha mee s
in e na ional s anda ds. O e he pas ew yea s, la ge-scale e o ms ha e been implemen ed o
mode nize he sec o , s eng hen ma ke p inciples, and expand in eg a ion wi h he global
economy. Despi e hese achie emen s, se e al challenges emain ha equi e sys ema ic and
inno a i e solu ions.
Fu he de elopmen should ocus on accele a ing digi al ans o ma ion. The use o
mode n inancial echnologies, expansion o online and mobile banking, and imp o emen o
cybe secu i y will enhance se ice quali y and accessibili y, especially o u al popula ions. I is
also essen ial o imp o e c edi policy h ough ad anced isk assessmen me hods, including
a i icial in elligence–based sco ing sys ems. This will inc ease he e iciency o c edi alloca ion
and ensu e be e suppo o small and medium en e p ises.
S eng hening inancial inclusion is ano he key p io i y. Expanding access o banking
se ices, p omo ing inancial li e acy, and encou aging he use o non-cash ansac ions will
educe he in o mal economy and os e g ea e public us in inancial ins i u ions. A he same
ime, inc easing compe i ion in he sec o by a ac ing o eign in es o s and suppo ing p i a e
banks will s imula e inno a ion and b ing he sys em close o global s anda ds.
De eloping long- e m unding sou ces is equally impo an . Coope a ion wi h pension
unds, insu ance companies, and ins i u ional in es o s will help o m a s able inancial base o
in es men p ojec s. Addi ionally, con inuous aining and de elopmen o quali ied banking
specialis s a e i al o main aining p og ess and e iciency in he sys em. O e all, consis en and
inno a i e e o ms—cen e ed on digi aliza ion, anspa ency, inancial inclusion, and human
capi al—will allow Uzbekis an’s banking sys em o become mo e s able, mode n, and
in e na ionally compe i i e.
Re e ences
1. A. Abduka imo and B. Is oilo , Bank ishi asosla i. Toshken : IQTISOD-MOLIYA, 2021.
2. N. Xamido , Pul-k edi a bankla . Toshken : Fan a exnologiya, 2020.
3. Sh. Toshboe , O‘zbekis on bank izimi: a aqqiyo bosqichla i a isloho la . Toshken :
Iq isodiyo , 2019.
4. Ziyadullaye a M.T. Language used o Add ess Women in English and Uzbek and he
His o ical Con ex o Thei De elopmen . AMERICAN Jou nal o Language, 2024.
5. A. Ka imo , O‘zbekis onning bozo munosaba la iga o‘ ish s a egiyasi. Toshken :
O‘zbekis on, 1995.
6. A. Qodi o and R. Alimo , Moliya iy menejmen . Toshken : IQTISOD-MOLIYA, 2022.
ISSN:
2181-3906
2025
In e na ional scien i ic jou nal
«MODERN SCIENCE АND RESEARCH»
VOLUME 4 / ISSUE 11 / UIF:8.2 / MODERNSCIENCE.UZ
188
7. C. A. E. Goodha , The E olu ion o Cen al Banks, MIT P ess, 2021.
8. M. Ziyadullaye a, The in luence o his o ical-p og essi e and p agma ic ac o s on he
add essee, Fo eign Linguis ics and Linguodidac ics, 2024.
