Tashkent, Uzbekistan (UzDaily.com) — The Legislative Chamber of the Oliy Majlis reviewed the response of Central Bank Chairman Timur Ishmetov to a parliamentary inquiry regarding “Ongoing Work on Reforming the Banking System and Transforming Commercial Banks.”

The inquiry focused on the transformation of state-owned banks, implementation of international standards and modern IT solutions, attraction of foreign investors, expansion of banking services, ensuring financial stability, and eliminating corruption factors.

The Central Bank noted that between 2020 and 2025, three banks were privatized and nine new private banks were established, including three international financial institutions. As a result, the share of state-owned bank assets decreased from 85% to 65%.

Deputies positively assessed the results presented in the response. During this period, 34.1 trillion soms were allocated to strengthen the capital base of state-owned banks. These measures allowed for expanded lending capacity, improved service quality, and reinforced financial stability of the banking system.

At the same time, deputies emphasized the need for further development of remote services for the population and small businesses, as well as stronger measures in information and cybersecurity.

Proposals included accelerating the implementation of a specialized information system for secure data transfer between banks and payment organizations. Special attention was given to the launch of the oilakredit.uz platform, aimed at increasing transparency in lending and reducing human-factor influence.

Following the discussions, the Central Bank’s response was taken into consideration.