The draft concept was developed by the Ministry of Finance of Uzbekistan with participation of experts from the Korean Stock Exchange, UNDP, the International Finance Corporation, the Institute for Forecasting and Macroeconomic Research under the Cabinet of Ministers and other structures.

The document covers the stock and insurance markets of Uzbekistan. The document envisages measures to further develop these markets.

As a result of implementation of the Concept, it is expected to enter a new stage in the development of the domestic stock market and increase the scale of the insurance market and create additional sources for development of investment activities.

As a result of implementation of the concept, insurance companies’ assets are expected to grow by 3.7 times, insurance services - 4.5 times, investments - 3.5 times, which will double the share of insurance services in GDP.

The document will also open up new opportunities for wide use of information technologies in the functioning of financial market segments.

The document proposes to approve the Comprehensive Program for Further Development of the Financial Market for the period of 2017-2021.

As part of implementation of the concept, it is planned to take measures to further improve the regulatory and legal framework of the entire financial market, including the securities market, insurance and banking services.