BAKU, Azerbaijan, Feb. 5
By Klavdiya Romakayeva - Trend:
The number of individuals using remote banking services in Uzbekistan as of January 1, 2021 reached 13,748, while in 2018 this figure amounted to only 4,225 individuals, Trend reports referring to the press service of the Central bank of Uzbekistan (CBU).
The CBU provided information on the transformation of the banking system, the gradual privatization of commercial banks, the widespread introduction of digital technologies.
It was noted that the level of customer orientation of Uzbek banks with state participation is increasing. In addition, special attention is paid to the complex transformation of commercial banks with a state share and a decrease in the state's share in the banking system.
It was noted that the process of privatization of Uzbek commercial banks will be carried out in stages - at the first stage, it is planned to transform the activities of banks with a state share, and at the second stage, to sell state shares to influential foreign investors.
Furthermore, the state participation in the National Bank, Agrobank and Microcreditbank will be retained in order to fill the economic gaps formed during the transformation and privatization of the banking system, that is, to meet the demand of all segments of the population for financial services, to ensure territorial coverage of banking services and implementation of socio-economic programs.
Also, Uzsanoatkurilishbank, Asaka Bank, Ipoteka Bank, Aloqabank, Turonbank and Qishloqqurilishbank are preparing for privatization. It is noted that the state share in at least one large bank is sold in full to strategic investors.
Moreover, the scale of the use of digital technologies in the banking sector of Uzbekistan is increasing with the increase in the number of mobile applications, the advantages of the QR code system, and most importantly, the increase in the literacy of the population in using digital financial services.
The CBU noted that digital banking services in Uzbekistan are developing in accordance with modern requirements.
“It is planned to create the necessary regulatory framework for launching a remote identification system (e-ID and e-KYC),” the message said.
In addition, a long-term strategy for the development of the system of cashless payments will be developed in Uzbekistan.
It was also reported that c Center for the Prevention of Information and Cybersecurity in the Banking and Financial-Credit Sector at the Central Bank, as well as for Combating Financial Fraud and Verification (FINCERT) will be created.
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