Forum on Data Management in the Banking System Held

The Central Bank, in cooperation with KPMG and with the participation of commercial banks, held a forum dedicated to issues of data management and the transition to a new model of data reporting.

The development of financial products and the increasing volume of data require financial market participants to reconsider their approaches to data management and enhance information systems.

During the forum, representatives of the Central Bank of Uzbekistan emphasized the key tasks facing the financial sector, namely:

• Improving transparency in the data collection process;
• Reducing the reporting burden on supervised organizations;
• Enhancing the quality and reliability of submitted data.

During the panel session, representatives of the “Biznesni rivojlantirish banki”, “Uzsanoatqurilishbank”, “Xalq Banki”, and “Ipak Yuli Bank” held an open discussion on the pressing issues faced by banks in implementing new data management approaches and their possible solutions.

Additionally, it was noted that the Central Bank will continue to hold regular meetings with supervised organizations to analyze the transition to the new data reporting model and provide further clarifications.