On March 12 of the current year, a meeting was held at the Central Bank of the Republic of Uzbekistan with representatives of the international financial institution The Currency Exchange Fund (TCX). The main focus of the discussion was the development of the derivatives market in Uzbekistan and matters related to the effective management of foreign exchange risks.
During the meeting, the introduction of mechanisms aimed at minimizing currency risks in the domestic financial market, in particular the promotion of hedging instruments, as well as opportunities to improve the regulatory and legal framework in this area was discussed in detail.
At the end of the meeting, a Memorandum of Understanding outlining the strategic directions of cooperation was signed. Within the framework of this document, the parties agreed to place particular emphasis on the following priority areas:
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Based on international best practices, systematically enhancing the professional knowledge and skills of specialists from banks and large
state-owned enterprises in the field of financial risk management; -
Organizing specialized training seminars aimed at developing practical skills in the application of hedging instruments;
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Forming a modern ecosystem for risk management through establishing continuous knowledge and experience exchange among financial market participants.
This cooperation will contribute to ensuring the stability of Uzbekistan’s domestic foreign exchange market, enabling banks and business entities to manage foreign currency related risks more effectively, and enhancing the investment attractiveness of the country’s financial market.
