Tashkent, Uzbekistan (UzDaily.com) - A few days ago, an event was held at the Central Bank of the Republic of Uzbekistan with the participation of State Advisor to the President of the Republic of Uzbekistan R. Gulamov and Chairman of the Senate Committee of the Oliy Majlis on budget and economic reforms M. Jumagaldiyev, promoting the tasks assigned to banking system, as well as laws relating to this area and their implementation in practice.

The meeting was chaired by the Chairman of the Central Bank of the Republic of Uzbekistan M. Nurmuradov, the leadership and staff of the country’s main financial institution and employees of commercial banks took part in its work.

It was noted that at the twenty-third plenary meeting of the Senate of the Oliy Majlis, 5 laws relating to the banking system were adopted immediately. Such an event, when during the same session of the upper house of Parliament considered such a number of regulations on the financial sector of the country, is unprecedented and shows the degree of attention paid to improving the banking system in the country. During the meeting, the chairman of the Senate Committee on Budget and Economic Reforms M. Jumagaldiyev emphasized the merit of the leadership and specialists of the Central Bank of the Republic of Uzbekistan in the development of these acts.

Employees of the banking system should be interested in ensuring the unquestioning implementation of laws in practice, bringing their essence and significance to citizens. It was noted that if the bank’s customers are informed about the adopted regulatory legal acts, the powers and responsibilities of banks, then various disagreements between the parties will not arise. It was noted that for this, bank employees themselves should be well aware of the laws.

Speakers separately dwelled on the Laws of the Republic of Uzbekistan “On Banks and Banking Activities”, “On the Central Bank of the Republic of Uzbekistan”, “On Currency Regulation”, “On Payments and Payment Systems”, detailed all the requirements and procedures provided for in them.

The meeting also spoke about the draft Law of the Republic of Uzbekistan “On the State Budget of the Republic of Uzbekistan for 2020”. As noted, the main financial document of the republic for the first time in the history of the country is adopted as a separate law. This, in turn, will serve to raise to a qualitatively new level the process of formation and execution of the budget.