UZBEKISTAN BANKING ASSOSIATION
Creation of Association of banks of Uzbekistan is a command of time. In present new conditions, the banking network gains the increasing value that connects all branches of economy and serves their development. Banks define stability, direction and pace of development of a national economy, its banks that create a basis of decent life of each citizen.
President of the Republic of Uzbekistan
Main goals and tasks
Main objectives of the Association of banks of Uzbekistan are:
- Expansion of the role of commercial banks in the realization of market oriented reforms
- Creation of integrated banking infrastructure as a solid basis of development of the banking system of Uzbekistan to the level of international standards
- promote self-reliance of commercial banks in the presence of economic levers of centralized control of the banking system
- Protecting the rights and legal interests of member banks and providing overall support
Overall goals of Uzbekistan Banking Association are maintenance of achievement by commercial banks of the country to the level of the international standards with the subsequent integration of banking sector into the international banking system.
In accordance with the goals and challenges facing the banking community, efforts of the Association of Banks of Uzbekistan also focus on:
- Increasing the confidence towards commercial banks
- Creating the necessary conditions to increase the level of capitalization of banks
- Enhancing investment activity of banks on modernization, technical and technological re-equipment of enterprises
- Further development of cashless payment system with utilization of plastic cards and encouraging their holders
- Improving the training and retraining of banking and financial system specialists
To carry out its functions the Association works with the Central Bank, government bodies, participates in developing drafts of laws and takes part in realizing government programs on reforming and developing the banking system, which testifies the trust of society and state support of the activities of the Association. Over the years, the Association took a number of steps to improve the activities of the Association itself and its infrastructure. The Association established a number of companies offering totally new services to commercial banks and branches of the Association were opened in regions of the country, which offer services to regional branches of commercial banks. All activities of the Association are directed at ensuring fair competition among banks and fortifying the trust of people of Uzbekistan towards banks, strengthening the position of commercial banks in the financial market of Uzbekistan, increasing their financial stability and level of capitalization that will further stimulate progressive development of the economy of the country as a whole.