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Interview with AUCC Chairperson Carolyn Lamm Before 2012 Uzbekistan-US Annual Business Forum

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NEWS

Uzbekistan to carry out large-scale banking reforms

akipress.com/
24 January 2020

The banking system of Uzbekistan falls 10-15 years behind from the current IT requirements, President of Uzbekistan Shavkat Mirziyoyev said in his state of the nation address today.

The President said sustainable results in economic development won't be achieved without introduction of the latest information technologies, digitization of banks, launch of new banking products.

Large-scale transformation program will be carried out in each bank since 2020, the President said.

"None of our banks copes with the task of preparation of project proposal... Our banks should enter international financial markets... We want motivated specialists to come into the banking sector. The main aim of the reforms is to teach commercial banks client-oriented approach," the President said.