As part of the 5th Tashkent International Investment Forum, the Central Bank of the Republic of Uzbekistan hosted a meeting with a delegation from RAKBANK.
The meeting was attended by Nodirbek Achilov, Deputy Governor of the Central Bank; heads of the Bank’s relevant structural divisions; and representatives of the RAKBANK delegation. The parties exchanged views on the macroeconomic environment, banking sector development and prospects for financial cooperation.
During the meeting, the parties discussed the current state of Uzbekistan’s economy, key drivers of economic growth, the inflation targeting regime, the main directions of monetary policy, exchange rate policy, and the impact of external economic conditions on financial stability.
The Central Bank provided information on ongoing efforts to ensure price stability, strengthen the transmission mechanisms of monetary policy, develop money market instruments, and expand communication with market participants.
The discussions also covered external economic conditions, global commodity markets, cross-border money transfers, foreign investment flows, and the importance of macroeconomic buffers in ensuring financial stability.
Particular attention in the banking sector discussions was given to capital adequacy, liquidity indicators, loan portfolio quality, banking supervision and macroprudential policy instruments. Representatives of the Central Bank briefed the delegation on measures being implemented to maintain the stability of the banking system, prevent risks and gradually align banking practices with international standards.
The parties also considered issues related to implementing the recommendations of international financial institutions, gradually aligning with Basel III requirements, enhancing the transparency of financial reporting, and strengthening the attractiveness of the banking sector for foreign investors.
The RAKBANK delegation expressed interest in reforms in Uzbekistan’s banking and financial market, digital banking services, Islamic finance, non-bank financial institutions, the leasing market, and financing for small and medium-sized enterprises.
The parties explored opportunities to continue expert-level dialogue on supporting small and medium-sized enterprises, credit scoring, cooperation with financial institutions, studying international best practices, and developing banking services.
At the conclusion of the meeting, the parties expressed their readiness to continue dialogue on reforms in Uzbekistan’s banking and financial sector, the investment climate and international financial cooperation.
