The "Uzbekistan - 2030" strategy project outlines large-scale reforms to the banking system. Gradual reduction of state participation and privatization of most banks are planned, with only four institutions remaining state-owned. These measures aim to create healthy competition, strengthen corporate governance, and enhance the efficiency of the financial sector.
The document sets specific goals for market growth: the annual lending volume should reach 720 trillion soums, and the balance of deposits in commercial banks - 560 trillion soums. Simultaneously, the share of state-owned banks' assets in the system is planned to be reduced to 55%, which will create space for the development of private capital and improve the quality of services for clients.
The strategy also includes expanding the product line of banks: the introduction of Islamic financial services in at least three commercial banks is planned, which will open up new opportunities for the population and businesses. As a result of the reforms, Uzbekistan's banking system should become more competitive, technologically advanced, and resilient to market challenges.
