Uzbekistan Banking Association was established by commercial banks by the initiative of the President of the Republic of Uzbekistan Islam Karimov in 28 July 1995. By its status, Banking Association is a voluntary association of commercial banks in the country and is a non-commercial, non-governmental organization established to protect the legitimate rights and interests of commercial banks in the country and assist them fully. Nowadays, Association consolidates 22 from 30 commercial banks of the republic, with more than 97% of total banking sector assets in Uzbekistan.
During the years of independence, the Association of Banks has approved itself as an effective structure which is able to implement objectives, protect the legitimate rights and interests of commercial banks, develop banking infrastructure and create new kinds of financial services, improve the professional level of bank personnel, improve banking legislation, combine efforts of commercial banks in reformation and further liberalize the banking system, strengthen public confidence to the banking community.
By Association of Banks created modern banking infrastructure, which includes 11 companies that can provide a full range of high quality new services in the financial market. In some regions of the country, there are regional institutions of the Association of Banks.
In its activities, the Association of Banks of Uzbekistan governed by the laws of the Republic of Uzbekistan, Ordinances, Decisions of the President of the Republic of Uzbekistan, Resolutions of the Cabinet of Ministers and other legislative acts of the Republic of Uzbekistan.